16/04/2025

BIZ & FINANCE WEDNESDAY | APR 16, 2025

15

Boost for Malaysian space industry o Pahang state agency, China Great Wall Industry, Lestari Angkasa to explore initiatives

KUALA LUMPUR: The Pahang State Economic Development Corporation (PKNP), China Great Wall Industry Corporation (CGWIC), and Lestari Angkasa Sdn Bhd signed a letter of intent (LoI) to explore strategic cooperation in the development of space initiatives in Malaysia. This landmark partnership marks a pivotal step forward in positioning Malaysia as a regional hub for space technology and innovation. Subject to the necessary approvals from relevant authorities, the LoI lays the foundation for a powerful tripartite collaboration focused on building Malaysia’s launch capabilities, expanding commercial space services, and driving technology transfer and investment across the aerospace ecosystem. LBS Bhd group executive chairman Tan Sri Ir (Dr) Lim Hock San said the signing of this LoI is more than just a symbolic gesture. “It is a shared commitment to advancing the frontiers of science and technology for mutual growth. “This signing will serve as a platform to embark on a new business venture, reflecting our collective vision to drive innovation, economic development, and cross-border collaboration within the space industry,” he said in a statement.

Together with Lim, the signing of the LoI was witnessed by the Pahang Mentri Besar Datuk Seri Wan Rosdy Wan Ismail, Pahang Investment, Industries, Science, Technology and Innovation Committee chairman Datuk Mohamad Nizar Mohamad Najib, along with officials from CGWIC. Their presence underscored the importance and national significance of this strategic collaboration. Under the LOI, the parties have agreed to work together on the following key areas, namely to explore launch capabilities in the form of “Sea Launch” at this stage, so as to assist Malaysia in achieving launch capabilities in the shortest period of time and other possibilities of mutual interest. It is also aimed to provide launch services for both domestic and neighbouring countries and enhance Malaysia’s aerospace industry chain. CGWIC is willing to offer technical solutions and related consultancy services to the government, and together with PKNP and Lestari Angkasa, the parties will carry out specific projects under an agreed framework. This cooperation represents a win win strategy for all parties involved. Malaysia stands to gain cutting

Wan Rosdy (third from left), together with Mohamad Nizar (third from right) and Lim (second from right), at the signing ceremony.

Pahang and Malaysia – particularly in the areas of land use development, economic growth, scientific and technological advancement, and the enhancement of the tourism sector – as the first hub of its kind in Southeast Asia,” PKNP CEO Datuk Mohd Faizal Jaafar said. With this collaborative framework now in place, the parties will proceed with detailed discussions to formalize a definitive agreement that outlines the specific terms and timelines for implementation.

This project reflects the Pahang state government’s efforts to support the national agenda in the field of space technology in line with the National Space Policy 2030. “Today’s ceremony is highly meaningful, serving as a strong indicator of the significance and commitment towards the implementation of this development proposal. “We hope that the project will be successfully carried out and will bring substantial benefits to the state of

edge technology, infrastructure development, job creation, and the upskilling of local talent. For CGWIC, this partnership enhances its footprint in Southeast Asia, while PKNP and Lestari Angkasa solidify their roles as key enablers in Malaysia’s growing space ecosystem. PKNP, as the representative of the Pahang state government, will give full support and cooperation in coordinating all necessary approvals from the local state authorities to realise the project.

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