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THURSDAY | OCT 16, 2025

ADB commits up to US$10b for Asean Power Grid projects

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

KUALA LUMPUR: The Asian De velopment Bank (ADB) is com mitting up to US$10 billion (RM42 billion) to support projects linked to the Asean Power Grid (APG), said ADB Southeast Asia Department director general Winfried Wicklein. The ADB and the World Bank yesterday jointly launched the Asean Power Grid Financing Initiative (APGF) to help accelerate the region’s clean energy transition. Wicklein said it is committing up to US$10 billion for financing of the national grids that are related to the Asean Power Grid, as well as some of the clean energy generation infra structure that will have to be built. “We are working on project preparation through lending, project preparation loans, grants, technical assistance and blended finance,” he told reporters at the Asean Energy Business Forum yesterday. He said the financing initiative brings together multiple sources of funds from commercial and multi lateral financiers to philanthropies to provide project-specific sup port. “The whole financing initiative brings together many multiple sources of finance from commercial through multilaterals like the World Bank and ADB, through even philanthropies. You bring them together with the project sponsors and see what each project requires in terms of very specific, tailor-made KUALA LUMPUR: Carabat AI, a Malaysian technology innovator dedicated to smart living solutions, expects to operate 15 outlets nationwide by year’s end, in creasing to around 50 by the end of 2026 and potentially reaching 150 by 2028. Of these, about 30 will be in Sabah, with a smaller number planned for Sarawak. Carabat AI CEO Shafiq Jailani said the company’s expansion plan in Malaysia is progressing steadily. “At the moment, our primary focus remains on Malaysia. We aim to strengthen our brand presence and establish a solid foundation locally before expanding into neighbouring countries in the future,” he told SunBiz at the opening of the brand’s flagship experience outlet in Wangsa Maju yesterday. The opening ceremony was officiated by Datuk Johan Pahlawan Lela Perkasa Sitiawan Datuk Muhammed Abdullah, who was the guest of honour. Besides Wangsa Maju, Carabat AI opened experience outlets in Sri Hartamas, Penang and Kota Bharu simultaneously yesterday. The company is planning to open additional outlets in Wisma Sabah, Seremban 2 and Subang, targeted for November. These new locations will continue the com Ű BY JOHN GILBERT sunbiz@thesundaily.com

enabling role of the APG to allow more energy cooperation between us, improve our energy security, and increase renewable energy adoption in the region.” Fadillah said the Ministerial Interface Meeting has reaffirmed and endorsed the APG’s role in advancing the “Asean 2045: Our Shared Future” through streng thening multilateral power trade. “The ministers noted the po tential role of the APG Financing initiative to accelerate the progress of the APG. The meeting shall serve as a pivotal moment that represents the commitment of Asean to develop APG beyond just the energy sector.” Fadillah commended the pro posal to develop the APG Financing Working Group, consisting of the Asean Secretariat, the Asean Centre for Energy, the World 5 Bank, and the Asian Development Bank. “I expect the working group to work closely together in accelerating the progress of this initiative with the facilitation of ACE as the Working Group Secretariat.”

the Enhanced APG memorandum of understanding (MoU) as one of the Priority Economic Deliverables under Malaysia’s Asean Chair manship 2025. “The completion of the MoU will mark a renewed commitment of Asean to advance our energy cooperation through the APG,” he added. Fadillah said it will be a cornerstone of the initiatives to overcome the challenges in realising the APG dream, including for the financing aspect. “Financing the APG matters ... because it is the foundation upon which our energy ambitions are built. Without adequate and innovative financing mechanisms, even the most promising projects may stall. We must mobilise both public and private 4 capital, de risk investments, and create enabling environments that attract long-term commitments.” He said Asean has put the APG initiative as one of the most strategic initiatives of the Asean energy co operation. “Asean have identified the

o Asian Development Bank and World Bank jointly launch financing initiative to help accelerate region’s clean energy transition

financing.” Wicklein said the APG is “one of the most complex projects that the region has seen” due to its scale and cross-border nature. “We have technical complexity, financial complexity, and then the institutional issues, the legal, regulatory and policy frameworks that need to be harmonised. This is why this larger partnership is required.” Wicklein said ADB has begun work on several bilateral projects, citing the Monsoon Wind Project in Laos, which exports power to Vietnam, as an example. Meanwhile, Bernama quoted Wicklein saying that ADB has reaffirmed that it will not finance any nuclear power generation projects under its current energy policy. pany’s provide Malaysians with hands-on access to innovative, smart living solutions. Elaborating, Carabat AI mar keting manager Perakash Nair said the brand aims to strengthen its market presence by expanding its outlets across major Malaysian cities within the next year. “This experience outlet marks the first step in our nationwide rollout strategy. We are projecting a 30% year-on-year growth as consumer adoption of smart home technology continues to rise. By providing accessible and practical smart living innovations, we believe Carabat AI can play a major role in shaping Malaysia’s smart living future,” he said. Shafiq said Carabat AI’s products are primarily positioned for the mass market, designed to be accessible and practical for everyday users. While tech-savvy consumers are naturally drawn to the products’ advanced features and appeal, the company’s primary focus remains on serving regular users and making smart living technology accessible to the majority. In reply to a question, Shafiq said Carabat AI’s research and develop ment activities are fully based in Malaysia, where the in-house team handles all aspects of product design and innovation. Manufacturing is carried out in China to maintain competitive pricing and efficiency, a practice standard across the industry. mission to

He said the bank’s existing framework does not permit funding for nuclear energy initiatives. However, Wicklein noted growing interest among several Asean member states in exploring nuclear energy as part of their long-term energy strategies. “At the moment, our energy policy does not allow our financing of nuclear energy.“We recognise increasing demand and exploration of nuclear options in the region, and we are following those develop ments with interest, but we are not directly involved at this stage,” he added. Deputy Prime Minister cum Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof said Malaysia is pleased to put the endorsement of “Our R&D is entirely managed by our own Malaysian team, from design to product development. Manufacturing is done in China to ensure cost competitiveness, and our supply chain is managed directly between our teams in Malaysia and our partners abroad,” Shafiq said. During the launch, Carabat AI unveiled its product lineup, including a new range of smart home and kitchen appliances designed to integrate seamlessly with the com pany’s proprietary Astana App. The app was developed to simplify the management of mul tiple smart devices, addressing common challenges where devices are often incompatible or require numerous apps. By serving as the central platform of Carabat AI’s ecosystem, the Astana App enables users to automate, monitor, and personalise devices such as air solutions, smart switches, home and kitchen appliances, and CCTV and security systems, all from a single, intuitive interface. “The Astana App and our smart appliances are more than just products. They form a complete ecosystem that brings smart living to life in Malaysian homes. Today’s launch allows visitors to see how technology can seamlessly enhance comfort, convenience, and every day living,” Shafiq said. The flagship outlet features inter active zones that showcase Carabat AI’s diverse range of innovations.

Smart living firm Carabat AI eyes 50 outlets nationwide by end-2026

Shafiq speaking at the opening of Carabat AI’s flagship experience outlet in Wangsa Maju yesterday.

Visitors can explore AI-driven and smart wearable devices – such as smart glasses, rings and health tracking tools – alongside the

integrated smart home ecosystem, providing an engaging opportunity to experience the practical benefits of connected living first hand.