Latest news with #RM9.9
The Star
2 days ago
- Business
- The Star
Singapore's SMRT to be fined RM9.9mil for six-day train service disruption last September
Releasing the findings of its months-long investigation into the incident, LTA said degraded grease was likely to have caused a faulty part of a train's undercarriage to fall out, which precipitated the disruption on the morning of Sept 25, 2024. - Photo: Straits Times/ANN SINGAPORE (Bernama): Singapore's public transport operator SMRT will be fined S$3 million (RM9.9 million) following a six-day MRT service disruption on the East-West Line (EWL) in September last year, according to the Land Transport Authority (LTA). LTA said that in determining the penalty amount, the agency took into account that SMRT had borne the cost of repairs and had provided free bridging buses and regular bus services, as well as shuttle train services at the affected stations. "It also provided free travel to passengers alighting at Jurong East and Buona Vista stations for the six days of disruption. The total costs amounted to over S$10 million,' it said in a statement on Tuesday. The penalty will be channelled to the Public Transport Fund to help lower-income families with their public transport expenses. LTA said its investigation into the Sept 25 to 30, 2024 service disruption concluded that the likely cause was degraded grease in the axle box, which subsequently led to overheating and failure. This conclusion was supported by the presence and location of burnt rubber and metal pieces from the chevron springs found along the path of the affected train. However, the agency noted that it was not possible to establish a definitive root cause. On Sept 25, 2024, a dislodged axle box caused the wheels of the third car of a Kawasaki Heavy Industries (KHI) train to fall off the track, damaging the tracks between Dover station and Ulu Pandan Depot. The incident resulted in MRT service disruption between Jurong East and Buona Vista stations. Repair works were carried out over six days, and full services resumed on Oct 1, 2024. - Bernama
Borneo Post
18-05-2025
- Business
- Borneo Post
Sabah, Sarawak fast emerging as key digital infra hubs
Anuar Fariz Fadzil says digital clusters in East Malaysia are now gaining momentum, backed by strong support from the Madani Government, regional demand and growing investor confidence. – Photo by Ronnie Teo KUALA LUMPUR (May 18): Sabah and Sarawak are fast becoming integral to Malaysia's national digital infrastructure strategy, with major data centre developments placing East Malaysia firmly on the map for high-value digital investments. Malaysia Digital Economy Corporation (MDEC) chief executive officer Anuar Fariz Fadzil said that while Johor and Cyberjaya have long been established digital clusters Peninsular Malaysia, new locations in East Malaysia are now gaining momentum, backed by strong support from the Madani Government, regional demand and growing investor confidence. In Sabah, the upcoming Tier III Borneo Data Centre in Kota Kinabalu is expected to significantly improve regional connectivity and support cross-border data flows. Over in Sarawak, projects within the Samalaju Industrial Park and ongoing infrastructure expansion in Kuching are helping to position the state as a rising hub for data-driven industries. 'What we are seeing is a nationwide movement — from the peninsula to East Malaysia — driven by investor confidence, government facilitation and real market demand,' Anuar said. He was speaking at the Datacentre and Cloud Infra Summit (DCCI) 2025, held in Kuala Lumpur recently, where he highlighted how Malaysia's stable governance, coherent digital strategies and commitment to sustainability are drawing global tech giants to invest. Malaysia currently hosts 54 operational data centres with another 24 under construction. Global players such as ByteDance, Microsoft, Oracle and NVIDIA have already established a presence, while Google's new hyperscale data centre in Port Dickson, Negeri Sembilan — part of a US$2 billion investment — is progressing on schedule. Data centre and cloud-related projects accounted for RM9.9 billion, or over 60 per cent of total approved investments under the Malaysia Digital (MD) initiative between January and mid-April 2025. The overall total reached RM16.2 billion in the same period. 'These projects are creating meaningful, gainful employment for more Malaysians, enabling greater digitalisation for businesses and delivering long-term benefits for the rakyat and the nation as a whole,' said Anuar. He added that Malaysia's 40 per cent renewable energy target by 2035 has become a major draw for global hyperscalers seeking ESG-aligned expansion in Asia. 'We must build not just for today, but for the generations to come. That means embedding sustainability into every layer of our digital infrastructure — from site selection and energy use to operations and regulation.' As an agency under the Ministry of Digital, MDEC works closely with its sibling institutions — including MyDIGITAL Corporation, CyberSecurity Malaysia, Digital Nasional Berhad (DNB), MYNIC, the National Digital Department (JDN) and the Department of Personal Data Protection (JPDP) — to ensure alignment across cybersecurity, regulation and talent development. While challenges such as power provisioning, regulatory clarity and skilled talent remain, Anuar said East Malaysia has an important role to play in ensuring inclusive growth across the national digital landscape. 'The infrastructure we build today will determine our competitiveness tomorrow. It is essential that we move forward with purpose, clarity and shared resolve,' he said. Meanwhile, Tradepass director Praveen Venu praised the government's efforts in creating an investor-friendly climate, noting that Malaysia's digital push is increasingly resonating with global players seeking sustainable and inclusive opportunities. 'Malaysia has positioned itself exceptionally well under the Madani Government's leadership. The clarity of its digital roadmap, commitment to ESG principles and willingness to collaborate with industry are exactly what global investors look for,' he said. 'As an international company, we are proud to host DCCI 2025 in Kuala Lumpur where conversations have moved beyond growth to include sustainable, inclusive progress that benefits the entire region — including East Malaysia.'
New Straits Times
16-05-2025
- Business
- New Straits Times
Malaysia cements position as top site for data centre investments: MDEC
KUALA LUMPUR: Malaysia is rapidly cementing its position as a leading destination for data centre investments in Southeast Asia. Global technology giants pointing to stable governance, clear digital strategies and strong institutional coordination as key enablers. Malaysia Digital Economy Corporation (MDEC) chief executive officer Anuar Fariz Fadzil said investor confidence is being driven by the country's coherent policy direction, effective public-private collaboration, reliable power infrastructure, low disaster risk and commitment to long-term sustainability. "The fundamentals are in place - from institutional support to renewable energy integration. "This is why global players are choosing Malaysia as their regional base for cloud and data infrastructure," he added. Anuar spoke at the international Datacentre and Cloud Infra Summit (DCCI) 2025 at the Kuala Lumpur Convention Centre on Wednesday. Malaysia currently hosts some 54 operational data centres, with a further 24 under construction, supported by a balanced mix of domestic and international players. Global technology firms such as ByteDance, Microsoft, Oracle and Nvidia have already expanded their presence, while Google's new hyperscale data centre in Port Dickson - part of a US$2 billion investment - is progressing on schedule. Data centre and cloud infrastructure projects alone accounted for over RM9.9 billion, representing more than 60 per cent of total approved investments under the Malaysia Digital (MD) initiative from January to mid-April 2025. This forms part of RM16.2 billion in overall digital investments approved during the same period. Anuar said these investments are expected to generate thousands of high-value jobs and enhance Malaysia's position as a trusted regional hub for digital services. "These projects are creating meaningful, gainful employment for Malaysians, enabling greater digitalisation for businesses and deliver long-term benefits for the rakyat and the nation as a whole," he said. Beyond the Klang Valley, momentum is also building across the country. Johor and Cyberjaya remain leading clusters, but newer locations such as Port Dickson as well as Sabah and Sarawak are quickly emerging. In Sabah, the upcoming Tier III Borneo Data Centre in Kota Kinabalu is expected to boost regional connectivity, while in Sarawak, projects within the Samalaju Industrial Park and digital infrastructure expansion in Kuching are positioning the state as a rising data economy. "What we are seeing is a nationwide movement - from the peninsula to East Malaysia - driven by investor confidence, government facilitation and real market demand," Anuar said. He added that Malaysia's firm commitment to environmental, social and governance (ESG) principles is also a key factor in attracting responsible, long-term digital investments. The country is aiming for a 40 per cent renewable energy mix by 2035 - a target that resonates with the sustainability expectations of hyperscalers and cloud service providers. As an agency under the Digital Ministry, MDEC works closely with sibling agencies including MyDIGITAL Corporation, CyberSecurity Malaysia, Digital Nasional Bhd, MYNIC, the National Digital Department and the Department of Personal Data Protection to ensure that Malaysia's digital infrastructure development is consistently aligned with national priorities. "Our collective efforts ensure Malaysia's infrastructure strategy remains aligned with cybersecurity, regulatory and talent development goals," said Anuar. While acknowledging challenges around power readiness, land provisioning, regulatory speed and talent supply, Anuar said Malaysia's long-standing culture of partnership and adaptability will continue to be a competitive advantage. "The infrastructure we build today will determine our competitiveness tomorrow. It is essential that we move forward with purpose, clarity and shared resolve," he said. Meanwhile, event organiser Trade pass director Praveen Venu commended the government for creating a stable, investor-friendly climate that continues to attract high-value digital infrastructure projects into the region. "Malaysia has positioned itself exceptionally well under the Madani government's leadership. The clarity of its digital roadmap, commitment to ESG principles and willingness to work hand-in-hand with industry players are exactly what global investors look for," he said. "As an international company, we are proud to host DCCI 2025 in Kuala Lumpur where conversations have moved beyond growth to encompass sustainable, inclusive progress that benefits the entire region," said Praveen.
New Straits Times
12-05-2025
- Business
- New Straits Times
Pentamaster misses expectations, outlook downgraded
KUALA LUMPUR: Pentamaster Corp Bhd's first quarter net profit of RM9.9 million, which dropped 37 per cent due to weaker revenue from the medical segment, has missed expectations. CGS International Securities Malaysia Sdn Bhd said the results made up only 12 per cent of its full-year estimates and 15 per cent of Bloomberg consensus. The firm expects medical segment revenue to decline by 20 per cent in financial year 2025 (FY25) as more US-based MedTech companies may increasingly seek to re-shore their manufacturing operations. "This trend could be particularly pronounced for companies with existing facilities in the US, potentially limiting strong order wins for Pentamaster compared to our earlier expectations," it said in a note. The firm lowered its earnings forecasts for Pentamaster by 14 per cent-17 per cent for FY25-FY27 to reflect more conservative revenue growth assumptions for its equipment segment amid rising uncertainties in the automotive sector. The firm said that these uncertainties, driven by reciprocal US tariffs, could dampen demand for the group's known good die and burn-in testers. However, Pentamaster's diversification into new growth areas, such as renewable energy and high-performance computing, may alleviate the emerging challenges pertaining to the US tariff situation, added CGS International. "We expect these new segments to contribute five per cent of FY25F revenue, driven by the group's ongoing efforts to expand its sales pipeline," it said. The firm downgraded its call for Pentamaster to 'Hold' from 'Add' with a lower target price of RM2.70 following the earnings revision.
New Straits Times
29-04-2025
- Business
- New Straits Times
Malaysia digital initiatives secures RM16.2bil worth of investments in four months
GEORGE TOWN: The total approved investments under the Malaysia Digital (MD) initiative reached RM16.2 billion from January to April this year, backed by strong global investor confidence, said Digital Minister Gobind Singh Deo. The minister said the investment momentum is expected to generate almost 6,500 job opportunities and reinforce Malaysia's position as a regional digital leader. He said that out of the total approved investment, RM9.9 billion or more than 60 per cent, was contributed by data centres and cloud investments. "From an innovation lens, AI (artificial intelligence) companies now make up the largest share of new MD status companies at 27 per cent, followed by data centres (23 per cent) and Global Business Services (11.5 per cent). "Investor confidence in Malaysia remains strong. Our top five sources of foreign direct investments include the Netherlands, Singapore, Hong Kong, India and the United Kingdom, a reflection of our robust infrastructure and investor-friendly policies," he said when delivering his keynote speech at the MD Open Day 2025 here, today. Also present were Penang Deputy Chief Minister II Jagdeep Singh Deo, Penang Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari and Malaysia Digital Economy Corporation (MDEC) non-executive chairman Syed Ibrahim Syed Noh. Therefore, Gobind said those achievements reaffirmed Malaysia's appeal as a leading digital investment destination and, more importantly, reflect the real-world impact we are driving across our economy and workforce. Elaborating, he said to date, Malaysia has hosted 3,891 active MD companies, including 254 in the northern region, and currently, Penang alone has attracted RM1.23 billion in MD-approved investments, with 266 jobs expected to be created. "While 93 per cent of these investments are driven by data centres and cloud, more than 60 per cent of job opportunities are in high-value sectors such as IC (integrated circuit) design and embedded software," he added. The MD Open Day 2025 is a dedicated platform for engagement between MD-status companies, investors, government agencies, and key stakeholders within Malaysia's digital economy ecosystem. The event also marked the official launch of the Digital Ministry's northern regional office, reinforcing the government's commitment to regional empowerment and nationwide alignment.
