Continue to explore investment opportunities abroad, Fadillah tells Malaysian companies

The Sun

23-04-2025

ISTANBUL: Major Malaysian companies are encouraged to continue exploring investment opportunities abroad to strengthen business collaboration and, more crucially, to extend the sharing of technology and expertise, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
Fadillah, also the Energy Transition and Water Transformation Minister, said expertise and experience-sharing through cooperation with foreign countries benefits Malaysia tremendously.
Citing Tenaga Nasional Bhd's (TNB) investment in Turkiye's energy company Gama Enerji AS, Fadillah said it exemplifies the deep business ties between the two countries.
'Although TNB is not the majority shareholder, it is involved in its management and is also developing or expanding TNB's investment at the international level,' he told Bernama on Tuesday night.
'We want to encourage more companies to explore and seek partners who can help extend their knowledge, technical skills, and technology back to Malaysia, in addition to the energy and water sectors, which are our focus,' he said.
Earlier, Fadillah visited Gama Enerji in Ankara during his two-day official working visit to Turkiye which started on Tuesday. Malaysia's ambassador to Turkiye, Sazali Mustafa Kamal, and TNB's chief of new energy, Mohd Zarihi Mohd Hashim, were also present.
Fadillah said he would also visit Turkish floating power plant operator Karpowership. The company is interested to invest and share expertise with Malaysia, particularly Sabah's power generation.
'Karpowership comprises vessels that serve as power generators. They are mobile and can be deployed anywhere to supply electricity using gas, liquefied petroleum gas and other fuels.
'They are very interested because they are aware, for example, of Sabah's electricity supply shortages. Therefore, they can deploy vessels for power generation wherever needed,' Fadillah said.
He added that he would personally inspect the construction and installation site of the vessels to assess their energy supply capabilities.
'I want to see their capabilities, because sometimes we need a backup. So at the very least, we know there's an alternative. If there's a shortage, we can get support. But this is not a commitment yet – it's more an exploration,' he said.
Fadillah also said Malaysia and Turkiye are working to move beyond an exchange of letter of intent related to energy sector cooperation, particularly in renewable and nuclear energy for power supply purposes into a memorandum of understanding (MoU).
This would pave the way for cooperation between high-level officials and policymakers from both countries.
Fadillah said this was among the matters discussed during his meeting with Turkiye's Energy and Natural Resources Minister, Alparslan Bayraktar, in Ankara on Tuesday.
'We are working to upgrade this letter of intent into an MoU,' he added.
The exchange of the letter of intent was formalised during Turkiye President Recep Tayyip Erdogan's Feb 10-11 official visit to Malaysia.
Fadillah will lead the Malaysian delegation to the Summit on the Future of Energy Security in London to be held tomorrow and Friday, after his visit to Turkiye.