Business

POWERWELL Holdings Bhd’s wholly-owned subsidiary, Powerwell International Sdn Bhd, has won a RM68.5 million contract to design, procure, deliver, test and commission low voltage switchgears for a Selangor data centre, with completion expected by the second quarter of 2026.

Its MD Catherine Wong Yoke Yen said the contract is the largest data centre project in the group’s history and highlights Powerwell’s technical expertise and strong delivery track record.

She added that the project is expected to contribute positively to earnings from FY26 through FY27 while strengthening the group’s order book.

Powerwell said it continues to pursue additional tenders across data centres, infrastructure, renewable energy, and semiconductor sectors.

As of September 30, 2025, the group’s order book stood at approximately RM105 million, excluding the newly secured contract. — TMR

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GEOHAN Corporation Bhd has clinched two contracts from Sunway Group subsidiaries worth a combined RM32.2 million, marking its first major project wins in FY2026 and expanding its footprint in Johor.

The first contract, from Sunway Majestic Sdn Bhd, covers piling and contiguous bored piling retaining wall works for a 46-storey SOHO development in Johor Bahru, scheduled to start in February 2026 and complete within nine months.

The second, from Sunway City (JB) Sdn Bhd, involves bored piling for three 47-storey serviced apartment blocks in Plentong, Johor, also commencing in February and expected to finish in eight months.

Geohan MD Lee Kim Seng said the awards, following previous wins at Astaka Arden Residence and Causewayz Square @ JBCC in FY2025, underscore Sunway Group’s confidence in Geohan’s quality and reliability, strengthening the company’s order book and project pipeline for FY2026. — TMR

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SASBADI Holdings Bhd has entered into a tripartite memorandum of understanding (MoU) with Intel Microelectronics (M) Sdn Bhd and Maistorage Technology Sdn Bhd to explore potential collaboration in the education technology sector.

In a Bursa Malaysia filing today, Sasbadi said the MoU aims to develop hybrid and offline-first artificial intelligence-enabled learning environments for Southeast Asia, combining Intel’s technology expertise, Maistorage’s AI platforms and Sasbadi’s K-12 educational content.

The initiative is intended to support the modernisation of national education systems through locally relevant curricula and digital content, beginning with Malaysia.

The proposed collaboration includes the deployment of a Content Access Point platform to enable local caching and offline access to educational materials, as well as the integration of AI platforms for real-time, on-device learning.

The parties also plan to co-develop and localise education solutions in line with national education blueprints.

Sasbadi said the MoU aligns with its strategy to expand content accessibility through digital and offline infrastructure, supporting its broader digital growth plans.

The agreement is effective until June 30, 2027. — TMR

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OCK Group Bhd’s subsidiary, OCK Datawave Sdn Bhd, has entered into a distributorship agreement with Japan-based Fujikura Ltd to distribute its optical fibre cable solutions in Malaysia.

The agreement will take effect from January 2026 and is valid until December 2026.

Under the agreement, OCK Datawave will distribute Fujikura’s flagship Wrapping Tube Cable (WTC) series and related accessories, strengthening the group’s supply chain capabilities and broadening its product offerings across its business segments.

Fujikura will retain the right to modify product specifications and provide updates on newly developed products to ensure continued technological advancement.

Fujikura is a global manufacturer specialising in advanced optical fibre cable systems and connectivity solutions, serving telecom operators, data centres and smart city projects worldwide.

OCK said the collaboration supports Malaysia’s accelerating fibre rollout and network upgrade initiatives, amid rising demand driven by smart city development, data centres, AI adoption, enterprise digitalisation and 5G implementation.

The addition of Fujikura’s optical cable solutions enhances OCK’s positioning as an end-to-end digital and telecommunications solutions provider.

“This partnership will enhance our capability to deliver reliable and future-ready fibre solutions to the market, supporting the activity for network infrastructure expansion as well as upgrades,” OCK MD atuk Wira Sam Ooi Chin Khoon said.

“By leveraging on Fujikura’s advanced product range, we believe that we will be able to better serve the evolving requirements of telecom operators, data centres and renowned enterprise clients nationwide,” he added. — TMR

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KINERGY Advancement Bhd is selling a 49% stake in its power project vehicle to Thailand-based private power producer B.Grimm Power Public Co Ltd for RM41.52 million, marking a strategic shift towards becoming an independent power producer.

Under the deal, Kinergy’s wholly owned unit KAB Energy Holdings Sdn Bhd will divest 49% of Jati Cakerawala Sdn Bhd to B.Grimm Power’s subsidiary, B.Grimm Power Tiara Sdn Bhd, while retaining a 51% controlling stake.

Jati holds an 80% interest in Teknologi Tenaga Perlis Consortium Sdn Bhd, which will develop a proposed 1.5-gigawatt combined-cycle gas turbine power plant in Perlis, subject to regulatory approvals and final phasing.

Kinergy said the partnership reflects its move beyond being purely an engineering, procurement, construction and commissioning contractor towards owning and operating power assets that generate recurring income.

Electricity from the plant will be sold to Tenaga Nasional Bhd under a power purchase agreement targeted to be finalised by the third quarter of this year.

EPCC works are expected to begin in the first quarter of 2027, with Phase 1 commercial operations targeted by end-2029. — TMR

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OMESTI Bhd said that its indirect subsidiary, Ohana Communications Sdn Bhd, has been designated as a Universal Service Provider for the installation and upgrading of Wi-Fi network facilities at education institutions under Majlis Amanah Rakyat (MARA).

The appointment follows Ohana’s acceptance of a notification of approval from the Malaysian Communications and Multimedia Commission (MCMC) on Jan 23, 2026, under the Universal Service Provision initiative.

The designation is made pursuant to the Communications and Multimedia (Universal Service Provision) Regulations 2002.

Under the approval, Ohana is obligated to implement the project and provide the required warranty and support over a 44-month period from Jan 23, 2026 to Oct 23, 2029.

The total approved cost for the initiative amounts to RM43.1 million, determined in accordance with the applicable regulatory framework.

Omesti said the designation will not affect its issued share capital or the shareholdings of its substantial shareholders.
The group expects the approved cost to contribute positively to revenue, earnings per share and net assets per share, and noted that it is not expected to have an immediate material impact on gearing for the financial year ending Oct 31, 2026.

Its board said the fulfilment of the obligation is in the best interest of the Omesti group. — TMR

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UNIQUE Fire Holdings Bhd is proposing to diversify into the renewable energy sector through a joint venture to develop a 95MW large-scale solar photovoltaic plant in Hilir Perak, with an estimated development cost of RM300 million to RM350 million.

The group, via its wholly owned subsidiary Unique Green Energy Sdn Bhd, has formed a joint venture with HEB Energy Sdn Bhd, a wholly owned unit of Main Market-listed HSS Engineers Bhd.

The project vehicle, Unique HEB Energy Sdn Bhd, is 60%-owned by Unique Green and 40%-owned by HEB Energy.

The joint venture has been shortlisted under the government’s LSS5 bidding exercise and has signed a 21-year power purchase agreement with Tenaga Nasional Bhd.

Construction is expected to begin in the first half of 2026, with commissioning targeted for the fourth quarter of 2027.

Samaiden Sdn Bhd has been appointed as the EPCC contractor.

To support the project, Unique Fire is proposing to provide financial assistance of up to RM309.95 million, comprising shareholders’ advances and corporate guarantees for bank borrowings.

The proposals, including the diversification into renewable energy, will be subject to shareholders’ approval at an EGM.

Upon completion, the solar project is expected to provide long-term recurring income for the group, while its core fire protection business will remain unchanged. — TMR

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ADVANCECON Holdings Bhd has secured an RM82.09 million contract for earthworks and infrastructure works at Phase 1 (Package 1) of the Southern Catalyst Innovation District in Johor.

The contract was awarded to its wholly owned subsidiary, Advancecon Infra Sdn Bhd, by Southern Catalyst Sdn Bhd.

The project, located in Mukim Sedenak, Kulai, involves earthworks, main drainage, ancillary works and related infrastructure.

Construction is scheduled to commence on Feb 4, 2026 and be completed by May 4, 2027, providing earnings visibility over a 15-month period.

The contract strengthens Advancecon’s presence in Johor and is expected to contribute positively to its order book and earnings.

The Southern Catalyst Innovation District is positioned within Johor’s growing industrial and innovation corridor, supported by rising manufacturing and logistics activity.

Its MD Phum Boon Eng said the contract reflects continued confidence in the group’s execution capabilities and highlighted Johor as a key growth market, underpinned by ongoing industrial expansion and infrastructure development.

Advancecon said it will continue to pursue projects aligned with its core earthworks and civil engineering strengths, while maintaining disciplined risk management and capital deployment. — TMR

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KJTS Group Bhd’s wholly-owned subsidiary, KJ Technical Services Sdn Bhd (KJTS SB), has entered into a two-year collaboration agreement with China Construction Yangtze River (Malaysia) Sdn Bhd (CCYRM) to jointly pursue data centre projects and other infrastructure or building-related projects in Malaysia and selected regional markets including Cambodia, Thailand, Singapore, and Turkey.

Under the agreement, KJTS SB will contribute its expertise in cooling and heating system design, energy management, and facilities management, while CCYRM will provide its experience in civil, structural, architectural, and construction works, along with overall project coordination.

The partnership is exclusive for projects under the agreement.

The collaboration aims to leverage both parties’ core strengths to deliver integrated solutions for data centres and other mission-critical facilities, supporting KJTS Group’s strategy to expand beyond its core markets and enhance its positioning in the infrastructure segment.

The board of KJTS noted that the agreement will not have any material effect on the company’s share capital, net assets, gearing, or earnings, and no directors or major shareholders have any interest in the collaboration.

The agreement is seen as a strategic move to broaden access to large-scale projects, improve client value propositions, and support long-term growth without creating immediate financial obligations. — TMR

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PGF Capital Bhd posted a net profit of RM4.56 million in the third quarter ended November 30, 2025 (3Q26), down from RM6.24 million in the same quarter last year.

Revenue for the quarter grew 14.8% year-on-year to RM44.12 million, driven by stable demand for insulation products in its core Oceania markets.

For the nine months, the group recorded revenue of RM130.1 million, up 7.3% from RM121.3 million in 9M25, while net profit fell to RM17.07 million, compared with RM19.97 million a year earlier.

The slight dip reflects mark-to-market unrealised losses on cross currency swaps and foreign exchange.

The insulation segment remained PGF Capital’s main contributor, accounting for over 99% of total revenue.

Segment revenue rose to RM129.7 million, with segment pre-tax profit improving to RM32.5 million, reflecting operational efficiencies despite currency-related impacts.

“We remain positive on our prospects in FY2026 as demand across our core markets of Australia and New Zealand continues to be supported by regulatory requirements, housing-related initiatives and energy efficiency programmes. In Malaysia, energy efficiency regulations and Budget 2026 measures are expected to boost broader adoption of insulation solutions,” its ED and CEO Fong Wern Sheng said.

The group also noted opportunities in mineral wool sandwich panels for data centres and maintains a strong balance sheet with a net gearing ratio of 0.32 times and net assets per share of RM1.43. — TMR

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