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The Star
a day ago
- Business
- The Star
Steel innovation for lasting sustainability
ACROSS Malaysia, cities and homes face a critical challenge as climate change escalates. Life-changing heatwaves and floods now profoundly impact lives, demanding immediate action to safeguard the nation's future. The construction industry must adapt to play a crucial role in shaping a more resilient future. This shift requires the use of smarter materials and greener structures for all. As Malaysia's leading steel manufacturer, Malaysia Steel Works (KL) Bhd (Masteel) is taking charge in building a sustainable and responsible future for the country's buildings and infrastructure. The company's commitment to net-zero fuels continuous innovation. Innovation in action: Masteel's Direct Casting and Direct Rolling process cuts carbon intensity by eliminating fossil fuels in billet heating. Masteel has adopted advanced processes that redefine steelmaking. The company's pioneering Direct Casting and Direct Rolling technology eliminates the use of fossil fuels in billet heating, significantly reducing carbon intensity. Its six-phase roadmap to net-zero by 2050 is well underway, having already achieved a remarkable 51.2% reduction in Scope 1 greenhouse gas (GHG) emissions as of 2024. Masteel's energy efficiency programme optimises operations through real-time monitoring. Since August 2024, the company has achieved an average reduction of 33.7% in GHG emissions per metric tonne of steel, made possible by over RM57mil in investments for carbon capture monitoring. The company's technological evolution embraces the future of steelmaking. Masteel utilises low GHG emission Induction Furnaces (IFs), recognised worldwide for their high efficiency. These furnaces produce carbon and alloy steel from raw materials sourced from the circular economy. The company also sets industry benchmarks, being the first steel mill in Malaysia to adopt an ultra-low GHG process. Beyond carbon, Masteel's commitment to holistic resource management ensures the conservation of precious resources through its zero-water discharge practice, which recycles all process cooling water. Recognised for excellence: Masteel executive director Shirley Ng receiving the Gold Award for Energy Efficiency at The Star's ESG Positive Impact Awards 2024, in the presence of OCBC Malaysia chief executive officer Tan Chor Sen (left) and Star Media Group chief executive officer Chan Seng Fatt. Masteel also drives industry decarbonisation through innovative partnerships. The company's collaboration with The Institute for Democracy and Economic Affairs (IDEAS) supports policy advocacy, promotes Climate Change Leadership in Asean and aligns with Malaysia's National Industrial Master Plan. Looking ahead, Masteel actively engages with academia to pursue new horizons. The company has partnered with experts from Universiti Tunku Abdul Rahman (UTAR) to jointly explore carbon capture, utilisation and storage (CCUS), pushing boundaries for cleaner solutions. Honoured for innovation: Masteel liaison officer Brian Tai, representing Masteel executive vice chairman Datuk Seri Tai Hean Leng, accepting the Gold Award for Innovative Partnership from Chan, with Tan (left) in attendance at The Star's ESG Positive Impact Awards 2024. Masteel's sustainability pursuits have earned the company independent recognition. It was honoured with two Gold Awards at The Star's ESG Positive Impact Awards 2024 for green steel production and decarbonisation leadership, affirming its progress in responsible manufacturing. Masteel offers a distinct advantage for all stakeholders, ensuring sustainability and market competitiveness as regulations evolve, including the Construction Industry Development Board (CIDB)'s new green criteria and the rising Green Building Index (GBI) benchmarks. The company's responsibly manufactured green steel helps achieve: > Enhanced regulatory compliance: Seamless alignment with green construction requirements; > Elevated ESG credibility: Strengthened corporate profile and property value; > Boosted brand reputation: Demonstrated commitment to sustainability; > Future-proof investments: Positioning projects ahead with low-carbon materials. To learn more about the company, its products and sustainability initiatives, visit
The Star
23-06-2025
- Business
- The Star
OCBC commits over RM11bil for Johor growth
From left: Bank of Singapore CEO Jason Moo, OCBC Bank (M) Bhd CEO Tan Chor Sen, CBC Group CEO Helen Wong, Johor Mentri Besar Datuk Onn Hafiz Ghazi, Great Eastern Group CEO Greg Hingston, Great Eastern Life Assurance (M) Bhd CEO Datuk Koh Yaw Hui and OCBC Al-Amin Bank Bhd CEO Syed Abdull Aziz Syed Kechik. JOHOR BARU: The OCBC Group has committed over RM11bil in financing to businesses in Johor since the start of last year, as part of its commitment to the development of the Johor-Singapore Special Economic Zone (JS-SEZ). By the end of 2025, the group expects to provide at least another RM3bil in financing for investments into various sectors including real estate, oil and gas, manufacturing and data centres, said OCBC Group CEO Helen Wong during a recent courtesy visit with her senior executives to Johor Mentri Besar Datuk Onn Hafiz Ghazi at his official residence in Saujana. Reiterating the group's long-term support for JS-SEZ, Wong emphasised that OCBC's One Group approach is underpinned by the collective strengths of OCBC Bank, its insurance subsidiary Great Eastern Holdings, its private banking arm Bank of Singapore, and its leasing and wealth management capabilities. This uniquely positions the group to support business growth and cross-border collaboration. Leveraging its deep-rooted history in Johor, diverse financial capabilities, and integrated regional network, OCBC is well-placed to contribute meaningfully to the JS-SEZ, fostering stronger economic ties between Singapore and Malaysia. Meanwhile, Onn Hafiz said the OCBC Group's commitment of over RM11bil in financing, with at least RM3bil more by year-end, reflects a strong endorsement of Johor's economic direction and investment potential. 'We welcome this partnership and look forward to working closely with OCBC to unlock Johor's full potential as Asean's next economic powerhouse,' he noted. According to OCBC Bank (M) Bhd CEO Tan Chor Sen, even prior to the official signing of the JS-SEZ agreement in January this year, OCBC had already taken proactive steps in Malaysia to showcase the zone's potential to global investors. 'OCBC has a strong track record of assisting foreign businesses in establishing operations in Malaysia and has facilitated the entry of new companies from various sectors, including services, construction, manufacturing, and wholesale and retail trade. 'Our collaborative efforts in the past with the mentri besar of Johor and key stakeholders such as the Iskandar Regional Development Authority, Malaysian Investment Development Authority and Invest Johor for the JS-SEZ Trade and Investment Mission have been fruitful,' Tan said. Great Eastern Life Assurance (M) Bhd CEO Datuk Koh Yaw Hui added: 'Along with OCBC Malaysia and the wider OCBC Group of which we are a part, we are excited about having a role in bringing to fruition the strategic initiatives aimed at transforming the border region between Malaysia's Johor state and Singapore into a premier economic hub.'
Business Times
11-06-2025
- Business
- Business Times
DayOne raises RM15 billion in green financing to develop Johor data centres
[KUALA LUMPUR] Singapore-based DayOne Data Centers has secured RM15 billion (S$4.6 billion) in dual-tranche green financing to support capital expenditure to develop its Johor data centres, setting a record for sustainable data centre funding in Malaysia. OCBC, in a statement on Wednesday (Jun 11), said the financing facility comprises a RM7.5 billion Murabahah term financing facility and a US$1.7 billion offshore term loan. (Murabahah term financing is a method of financing following Islamic finance principles, in which a bank or financial institution sells an asset to a customer at a cost-plus-profit price, rather than charging interest.) Structured under Green Loan Principles, the proceeds will be used for refinancing and capital expenditure for DayOne's data centres that meet or are expected to meet LEED 'Gold' certification or higher, in line with the United States Green Building Council's standards. (LEED is Leadership in Energy and Environmental Design.) The deal drew strong interest from among local and international banks, achieving an oversubscription of two times, said OCBC. OCBC Bank (Malaysia) and its parent, the Singapore-based Oversea-Chinese Banking Corporation, acted as joint coordinator, mandated lead arranger and bookrunner (MLAB), as well as green financing coordinator; OCBC Bank was also the joint syariah adviser. Tan Chor Sen, chief executive officer at OCBC Bank, said: 'As a key MLAB, we supported DayOne with one of the highest underwriting commitments, reflecting our commitment to fostering a sustainable future that aligns with our leadership in responsible finance.' OCBC's senior banker and head of investment banking, Tan Ai Chin, said the innovative 'double-green' structure – merging Islamic and ESG financing – sets a new benchmark for the market. 'We remain dedicated to delivering tailored ESG financing solutions to support sustainable digital infrastructure ecosystems,' she said. Other participating MLABs were CIMB Investment Bank, CIMB Bank Singapore, Crédit Agricole Corporate & Investment Bank, DBS Bank, Maybank Investment Bank, Standard Chartered Bank Singapore, United Overseas Bank and UOB Malaysia. Headquartered in Singapore, DayOne is a fast-growing global digital-infrastructure platform with operations across Tier-1 and emerging markets, including Malaysia, Indonesia, Thailand, Japan and Hong Kong.
The Star
11-06-2025
- Business
- The Star
DayOne secures RM15bil landmark deal for sustainable data centres
OCBC Bank (Malaysia) Bhd chief executive officer Tan Chor Sen KUALA LUMPUR: DayOne Data Centers has closed a landmark RM15bil equivalent multicurrency financing, comprising a RM7.5bil Murabahah Term Financing facility and a US$1.7bil offshore term loan facility. OCBC Bank (M) Bhd and its parent, Singapore-based Oversea-Chinese Banking Corporation Limited, acted as joint coordinator, mandated lead arranger, bookrunner, and green financing coordinator (MLAB), with OCBC Bank also serving as joint Shariah adviser. The financial close was commemorated at a signing ceremony held today. In a statement, OCBC Bank said the dual-tranche financing—structured under the Green Loan Principles—will partially fund the refinancing and capital expenditure of DayOne's data centres in Johor, which meet or are expected to meet LEED 'Gold' or higher certification by the U.S. Green Building Council, setting a new benchmark for sustainable digital infrastructure. Headquartered in Singapore, DayOne is a global leader in digital infrastructure, with a growing footprint across tier-one and emerging markets, including Singapore, Johor (Malaysia), Batam (Indonesia), Greater Bangkok, Hong Kong, Tokyo, and beyond. OCBC Bank Chief Executive Officer Tan Chor Sen said that, as one of the largest integrated financial services groups in the region, OCBC's regional strength enables it to support both the onshore and offshore tranches of this landmark syndication. 'As a key MLAB, we supported DayOne with one of the highest underwriting commitments, reflecting our commitment to fostering a sustainable future that aligns with our leadership in responsible finance.' Meanwhile, OCBC Bank managing director, senior banker and head of investment banking Tan Ai Chin said: 'OCBC Bank is honoured to have acted as MLAB for this landmark financing, underscoring our dominance as the top lead arranger in the syndicated loan market. The 'double-green' structure—merging Islamic and sustainable finance, coupled with the green feature of the facility—drew overwhelming demand, with oversubscription of two times by local and international banks.' 'We have been a leader in digital infrastructure financing regionally and remain dedicated to delivering tailored ESG financing solutions to drive sustainable digital infrastructure ecosystems forward,' she said. The financing also involved CIMB Investment Bank Bhd, CIMB Bank Bhd (Singapore Branch), Crédit Agricole CIB, DBS Bank Ltd, Maybank Investment Bank Bhd, Standard Chartered Bank (Singapore), United Overseas Bank Limited, and UOB (M) Bhd as MLABs.
