YCH Group Breaks Ground On RM500-million Supply Chain City® Malaysia In Sime Darby Property's Bandar Bukit Raja, Strengthening Asean Connectivity And Malaysian Logistics Ecosystem
The groundbreaking ceremony was attended by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI) Malaysia, Mr Shivakumar Nair, Singapore Acting High Commissioner to Malaysia, Tan Sri Nazir Razak, Chairman of the ASEAN-BAC, Malaysia Chapter, Dr Robert Yap, Executive Chairman of YCH Group, Mr Ryan Yap, Country General Manager, YCH Group Malaysia, Dato' Seri Azmir Merican, Group Managing Director & Chief Executive Officer of Sime Darby Property, as well as key customers and partners of YCH Group.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
34 minutes ago
- Free Malaysia Today
Court throws out Halim Saad's attempt to reinstate Renong takeover suit
(From left) Halim Saad claimed that Dr Mahathir Mohamad and Nor Mohamed Yakcop 'forced' him to relinquish his stake in Renong-UEM, together with all rights vested in him, without adequate compensation more than 23 years ago. PUTRAJAYA : Tycoon Halim Saad has failed to reinstate his lawsuit against former prime minister Dr Mahathir Mohamad and two others over the government's takeover of his holdings in the Renong-UEM Group. The Court of Appeal dismissed Halim's appeal today on grounds that this lawsuit, filed in 2023, was time-barred. Justice Supang Lian, who led a three-member bench, said Halim's lawsuit was a plain and obvious case for striking out. Justices Lim Chong Fong and Alwi Wahab also heard the appeal. The court ordered Halim to pay RM20,000 in costs to the defendants, who included former second finance minister Nor Mohamed Yakcop and the government. In the suit, Halim claimed that Mahathir and Mohamed 'forced' him to relinquish his stake in Renong-UEM, together with all rights vested in him, without adequate compensation more than 23 years ago. Mahathir was prime minister from July 1981 to October 2003, and again from May 2018 to February 2020. Halim alleged that Mahathir and Mohamed were 'the prime movers in respect of the said compulsory acquisition and deprivation'. The stake was said to comprise 372 million shares, and represented 16% of Renong Bhd's entire share capital. Halim claimed that the shares, acquired by government investment arm Khazanah Nasional Bhd through its subsidiary in 2001, belonged to him personally and not to Umno, a fact acknowledged by Anwar Ibrahim in Parliament on Nov 24, 1997. Anwar was Mahathir's deputy and also the finance minister and Umno deputy president at the time. Halim claimed that UEM then held a 32.6% stake in Renong, while Renong held a 37.92% share in UEM. The suit sought an unspecified amount in compensation or, alternatively, general, aggravated and exemplary damages to be assessed by the court, together with interest and costs. The High Court struck out the lawsuit in May last year. Lawyer Malik Imtiaz Sarwar appeared for Halim while senior federal counsel Ahmad Hanir Hambaly and Imtiyaz Wizni Aufa Othman appeared for Mahathir, Mohamed and the government.
Malay Mail
an hour ago
- Malay Mail
Powering progress: The role of solar energy in Malaysia's renewable future — Malaysia Debt Ventures Berhad (MDV)
AUGUST 18 — As the world pivots towards cleaner, more sustainable energy systems, Malaysia is making strategic strides in the solar energy sector. Solar power is no longer a niche option — it is emerging as a cornerstone of Malaysia's renewable energy (RE) ambitions, with government policies, market readiness, and technology convergence working in tandem to accelerate adoption. For a financing institution like Malaysia Debt Ventures Berhad (MDV), this shift offers opportunities to support high-impact ventures across the solar value chain — from rooftop installations to utility-scale photovoltaic (PV) farms and AI-integrated energy management systems. Malaysia's solar energy outlook Malaysia has set targets to increase its renewable energy capacity to 31 per cent by 2025 and 70 per cent by 2050, with solar energy expected to account for a substantial portion of this growth. The country's geographical location near the equator offers it an advantage, as it receives consistent solar irradiance throughout the year, making it an ideal environment for photovoltaic (PV) investments. To support these national targets, several government initiatives have been introduced. One such initiative is the Large-Scale Solar (LSS) programme, which is managed by the Energy Commission and the Ministry of Energy Transition and Water Transformation (PETRA). This programme allows private developers to construct solar power plants with capacities ranging from 10 megawatts (MW) to 500 MW. The most recent phase, known as LSS Petra 5+, is scheduled for commissioning by 2027. Malaysia has set targets to increase its renewable energy capacity to 31 per cent by 2025 and 70 per cent by 2050, with solar energy expected to account for a substantial portion of this growth. — Pexels pic Another key initiative is the Net Energy Metering (NEM) scheme, which enables residential and commercial users to export excess solar electricity back to the national grid. This not only reduces electricity bills but also encourages wider adoption of rooftop solar PV systems. Additionally, the Corporate Renewable Energy Supply Scheme (CRESS) was introduced to allow large corporations to source green electricity directly through power purchase agreements (PPAs). This initiative is expected to accelerate corporate decarbonisation efforts and support the broader energy transition agenda. Rooftops and megawatts: Dual engines of growth Growth is taking place at both ends of the solar energy spectrum in Malaysia. On one hand, rooftop solar installations are becoming increasingly common across residential properties, small and medium enterprises (SMEs), and commercial buildings. These decentralised systems not only offer significant electricity cost savings but also contribute to the reduction of carbon emissions. As a result, rooftop solar is expected to account for a substantial share of near-term solar energy expansion in the country. On the other hand, large-scale solar farms continue to play a crucial role in strengthening grid-level renewable energy contributions. Supported by initiatives such as the Large-Scale Solar (LSS) programme and corporate power purchase agreements (PPAs), these utility-scale projects channel solar power directly into the national grid. In doing so, they support Malaysia's broader energy transition goals while presenting attractive long-term investment opportunities for both public and private sector stakeholders. The technical backbone: Lifespan, warranty and maintenance In Malaysia, solar equipment must withstand tropical conditions—high humidity, intense rainfall, and coastal environments—making durability and maintenance central to financing considerations. According to Malaysia's Energy Commission's 'Guidelines on Large Scale Solar Photovoltaic Plant for Connection to Electricity Networks,' PV modules are designed for 25–30 years of operation, while inverters, transformers, and balance-of-system components are expected to last one to four decades, depending on component type and maintenance schedules. Warranties on these components—such as 12-year product and 25-year performance guarantees for PV modules—can be voided if standard O&M routines are neglected. The same guidelines highlight the importance of regular maintenance, advising practices like periodic module cleaning, inverter servicing, vegetation management, and grounding checks. Furthermore, module cleaning is crucial in Malaysia's climate to prevent soiling losses, which global research suggests can range from 4 per cent to 10 per cent annually if left unattended. Given that solar panels in Malaysia degrade at an estimated rate of around 0.75 per cent per year—and inverters typically require replacement after 10–12 years—project electrical and financial models must account for these lifecycle costs. Anticipating these events aligns with Malaysian PPAs and strengthens both bankability and investor confidence. Legal considerations and bankability In Malaysia, legal due diligence is a key part of developing and financing solar energy projects. Well-structured agreements help reduce risks, ensure regulatory compliance, and enhance the project's long-term viability. Power Purchase Agreements (PPAs), whether under the Feed-in Tariff (FiT) system or bilateral deals like the Corporate Renewable Energy Supply Scheme (CRESS), must clearly state pricing, contract period, and curtailment terms to attract investor confidence. For large-scale solar farms, securing land through lease or tenancy agreements is equally important. These contracts should match the project's lifespan and consider land use zoning, state approvals, and site restoration at the end of operations. Engineering, Procurement, Construction and Commissioning (EPCC) contracts outline contractor responsibilities and performance standards, while Operation and Maintenance (O&M) agreements define the upkeep needed to maintain efficiency throughout the plant's life. As a technology financier, Malaysia Debt Ventures Berhad (MDV) plays a facilitative role by supporting solar projects that are underpinned by clear, bankable legal structures. MDV works closely with developers to assess the viability of project agreements—including step-in rights, liability caps, performance guarantees, and supply commitments—ensuring they align with industry standards and financing expectations. By championing robust legal frameworks and risk-sharing mechanisms, MDV enables greater access to capital for solar developers and contributes to the broader growth of Malaysia's renewable energy ecosystem. Beyond infrastructure: The rise of solar AI Artificial intelligence (AI) is also beginning to reshape the solar landscape by transforming how systems are designed, maintained, and managed. Through predictive maintenance, AI enables early detection of equipment issues, minimising downtime and reducing maintenance costs. It also enhances energy forecasting by analysing weather data and historical trends, helping to optimise storage use and manage energy demand more accurately. However, the use of AI for predictive maintenance in Malaysian solar farms remains limited. Some local players have begun adopting AI-powered energy management systems, particularly in commercial-scale installations, but large-scale or widespread deployment is still emerging. Nonetheless, the growing interest signals a shift towards more intelligent, data-driven solar operations that can improve system visibility, integration with the grid, and ultimately return on investment. Conclusion: Financing a sunlit future For MDV, solar energy is more than a green pivot — it is an investment in resilience and innovation. As an agency under the Ministry of Science, Technology and Innovation (MOSTI), MDV supports Malaysia's renewable energy transition under the National Energy Transition Roadmap (NETR) and New Industrial Master Plan (NIMP) 2030 framework. To date, MDV has successfully financed over 110 green technology-related companies, providing a total of RM2.12 billion in green technology financing, with RM619.65 million channelled to solar projects, the largest share of its portfolio. Other allocations include mini-hydro, energy efficiency, biomass, and biogas, reflecting MDV's commitment to diversifying the clean energy landscape. Recent reforms to Malaysia's electricity tariff, effective July 2025, further strengthen the business case for solar adoption. With average grid electricity costs rising to approximately RM0.51/kWh for commercial and industrial users, solar via self-consumption (SelCo) models offer a cost-saving alternative at around RM0.29–0.34/kWh, representing savings of up to 43 per cent. This cost differential makes solar energy particularly compelling for SMEs, (environmental, social and governance) ESG-driven firms, and high-usage sectors seeking to reduce overhead and meet sustainability goals. MDV is well-positioned to respond to this shift by financing accessible and scalable solar solutions, particularly for commercial and industrial users navigating higher grid costs. The alignment between MDV's financing mandate and the NETR agenda positions the agency as a key enabler in accelerating Malaysia's transition to cleaner, more cost-efficient energy. By providing tailored, risk-mitigated financing solutions, MDV empowers developers — from SMEs to utility-scale operators — to advance solar adoption. Together with Mosti, MDV continues to build a sustainable energy future where solar power strengthens Malaysia's national grid and economic competitiveness. *This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
Barnama
an hour ago
- Barnama
Unity Ministry Seeks RM250 Mln Under Budget 2026 For Five Initiatives
KUALA LUMPUR, Aug 18 (Bernama) -- The National Unity Ministry (KPN) is seeking a RM250 million allocation under Budget 2026 to implement five initiatives aimed at strengthening community harmony and empowering communities. Its minister, Datuk Aaron Ago Dagang said the Unity and National Identity initiative involves an allocation of RM100 million to implement the Flagship Kembara Perpaduan programme to strengthen the nation-building agenda. 'The Community Harmony and Well-being initiative, with an allocation of RM100 million, aims for a more progressive Neighbourhood Watch Areas (KRT) by revitalising the Voluntary Patrol Scheme, empowering Community Mediators, and implementing the MADANI Harmony Initiative. "Under the 'Ini Warisan Kita' (This is Our Heritage) initiative, an allocation of RM10 million is for the acquisition of historical materials and national heritage treasures to be preserved and inherited by future generations, while the 'Transformasi Pendigitalan' (Digitalisation Transformation) initiative, with an allocation of RM20 million, is for the digitalisation of national heritage treasures including museums, archives, and libraries to make them more accessible to the public," he said in his speech during the ministry's Budget 2026 dialogue session here today. He said that the fifth initiative, Conducive Unity Premises, with an allocation of RM20 million, aims to improve the facilities and amenities of agencies under the KPN for the well-being of the people. "Last year, the allocation we requested was RM290 million, but we only received RM90 million. For next year, we are requesting RM250 million, and we hope it will be considered because there are many more activities we want to carry out," he said. In a similar development, Aaron also hopes that the Finance Ministry and the Inland Revenue Board will consider providing tax exemption incentives to companies that contribute directly to unity programmes or activities at the community level. "We know that in Malaysia, there are many large companies that can help us provide funds for activities, but these companies, no matter how much money they give, will claim tax relief under social responsibility," he also said. Today's dialogue session involved government agencies, non-governmental organisations (NGOs), KRT, associations, and students from institutions of higher learning (IPTs) to discuss needs, suggestions, and priorities related to the Budget 2026.
