22/12/2025

BIZ & FINANCE MONDAY | DEC 22, 2025

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SumiSaujana in pact to explore Indonesia venture

Shareholders approve Wawasan Dengkil’s solar venture, RE entry PETALING JAYA: Earthworks and civil engineering construction services provider Wawasan Dengkil Holdings Bhd has obtained shareholders’ approval for a joint venture in volving wholly owned subsidiary Wawasan co-invest in JV Co and develop a 70-megawatt large-scale solar photo voltaic plant, along with ancillary equipment and facilities, under the LSS Petra 5+ Programme (Project LSS5+), located at Mukim Ayer Puteh, Kedah. WDSB will hold 70% equity interest in JV Co, while Nestcon Infra will hold the remaining 30%. Project LSS5+ has an estimated total investment cost of RM187 million, of which about 85% is expected to be funded through bank financing, with the balance financed via equity contributions and shareholder advances. Wawasan Dengkil shareholders approved the deal at an extraordinary general meeting (EGM) on Friday. They also approved diversifying the group’s existing principal activities to include investment in renewable energy and related activities. Wawasan Dengkil executive director Lim Soon Yik ( pic ) said the diversification reflects the group’s strategic progression beyond its core construction activities. “Our prior experience in delivering solar farm earthworks and infrastructure works has provided a strong operational foundation for this transition. “With shareholders’ approval secured, the timing is strategically aligned with the growing emphasis on ESG practices and the continued expansion of Malaysia’s renewable energy sector, enabling the group to participate more directly in the country’s energy transition opportunities,“ he said after the EGM. Anchored by Project LSS5+, the diversi fication broadens the group’s earnings base beyond construction through ownership of renewable energy assets. Under a 21-year solar power purchase agreement with Tenaga Nasional Bhd, Project LSS5+ will provide long-term, recurring income through the sale of renewable electricity. Construction of Project LSS5+ is expected to begin in the third quarter of 2026, with commercial operation targeted by Feb 29, 2028. In parallel, Wawasan Dengkil continues to maintain a healthy construction pipeline. As of Sept 30, 2025, the group is managing 13 ongoing projects with an unbilled order book of RM348.7 million. Subsequently, the group accepted a letter of award dated Nov 24 from Warisan Infra Sdn Bhd for flood mitigation works at Sungai Langat, Selangor, with a contract value of RM16.1 million, which is not included in the reported order book. Lim said, “Looking ahead, we remain confident in Wawasan Dengkil’s prospects, supported by a robust tender book of approximately RM1.6 billion, comprising RM1 billion from earthworks and civil engineering services and RM600 million from solar farm infrastructure works. “The industry outlook is positive, under pinned by Malaysia’s National Energy Transition Roadmap targeting a 70% renewable energy share of installed capacity by 2050, alongside continued vibrancy in the con-struction sector boosted by the massive RM430 billion allocations under the 13th Malaysia Plan.” Dengkil Sdn Bhd (WDSB), Nestcon Infra Sdn Bhd and WD Solar Kedah Sdn Bhd (JV Co). The joint venture will

o Specialty chemicals producer, SPCI HELM, Pertamina unit and

PETALING JAYA: SumiSaujana Group Bhd, a manufacturer of oil and gas specialty chemicals, announced that its wholly owned subsidiary, SumiSaujana TCM Chemicals Sdn Bhd, has signed a memorandum of understanding (MoU) with PT Kilang Pertamina Internasional (KPI), SPCI HELM Malaysia Sdn Bhd and Denmark-based Topsoe A/S to jointly explore the develop ment of a wet gas sulphuric acid (WSA) facility at one of KPI’s refinery units in Indonesia. The parties will collaborate to evaluate the technical, commercial and financial feasi bility of implementing a WSA project under a build-own-operate-transfer (Boot) model. The facility will convert acid gas produced during refinery operations into commercial grade sulphuric acid while recovering heat for reuse, helping reduce emissions and comply with environmental regulations. This circular waste-to-value approach helps reduce sulphur emissions and other pollutants, lowers overall greenhouse gas emissions, supports compliance with en vironmental regulations and aligns with refinery operators’ broader low-carbon and energy efficiency objectives by turning industrial waste into valuable products and energy. SumiSaujana executive deputy chairman Toh Chee Seng said the MoU marks an important step in expanding SumiSaujana’s role from a specialty chemicals provider into a more integrated refinery solutions partner within the region. He said that by working alongside PT Kilang Pertamina, SPCI HELM Malaysia, and Topsoe, the companies can jointly assess the technical and commercial viability of converting refinery acid gas streams into value-added products under a structured operating model, while supporting improved environmental performance through a waste to-value approach. Denmark’s Topsoe to jointly study development of wet gas sulphuric acid facility

From left: Topsoe Southeast Asia managing director Amrul Atiqi Sansudin, PT Kilang Pertamina Internasional CEO Taufik Aditiyawarman, Toh and PCI HELM Malaysia CEO Teah Choon Lee at the signing ceremony.

efficiency, decarbonisation, green energy, and its proprietary WSA technology, will contribute process design inputs, indicative licensing parameters, and technical advisory support. At the same time, SPCI HELM will provide insights into the sulphuric acid market demand, distribution and regional supply dynamics. Topsoe’s technologies are widely deployed to help refineries and industrial operators reduce emissions, improve energy efficiency and support the transition towards lower carbon operations, reinforcing the project’s alignment with sustainability and ESG-driven infrastructure development. Any potential Boot structure, including the establishment of a special-purpose vehicle, will be subject to further discussions and the execution of definitive agreements following completion of the feasibility study. SumiSaujana said it continues to pursue strategic collaborations that strengthen its regional presence, expand its technical solution offerings and support sustainable growth across the oil and gas and industrial chemicals value chain.

“While the collaboration is currently at the evaluation stage, it allows us to apply our technical expertise, strengthen our regional presence, and build a foundation for potential long-term participation in large-scale refinery infrastructure projects, subject to successful feasibility outcomes and the execution of definitive agreements,” he said in a statement. SumiSaujana TCM Chemicals is res ponsible for leading the technical and com mercial evaluation of the project, leveraging its experience in specialty chemicals and refinery-related solutions. The scope includes coordination with Topsoe on WSA technology inputs, engine ering considerations and proprietary process requirements, as well as colla boration with SPCI HELM on sulphuric acid offtake, logistics and downstream market considerations. PT Kilang Pertamina, a sub-holding company of Indonesia’s national oil company PT Pertamina, will provide the necessary refinery data, site access and operational support to facilitate the feasibility assessment. Topsoe, a globally recognised technology provider with a strong focus on energy

Malakoff-Solarvest company, TNB sign 21-year power purchase deal PETALING JAYA: Malakoff Corporation Bhd’s 80%-owned subsidiary, Malakoff Silver Solar Sdn Bhd, has signed a 21-year solar power purchase agreement (SPPA) with Tenaga Nasional Bhd (TNB) in the development of a 470MW large-scale solar (LSS) facility in Larut and Matang in Perak. Although the SPPA will not have a material financial impact for the year ending Dec 31, 2025, Malakoff expects long-term earnings contributions once the facility achieves commercial operations. Malakoff CEO and director of Malakoff Silver Solar Syahrunizam Samsudin said it signals continued progress in decarbonisation plan. “These developments contribute to carbon avoidance and are expected to support a gradual reduction in Malakoff’s overall emissions intensity. “We see this as an opportunity to demonstrate what responsible and future focused energy development looks like.

The SPPA formalises Malakoff Silver Solar’s commitment to design, construct, own, operate and maintain the solar photovoltaic facility at Windsor Estate, supplying clean energy to TNB throughout the contract period. This will be Malaysia’s largest LSS project under the LSS Petra 5+ Programme, aligned with the National Energy Transition Roadmap. Malakoff Silver Solar is a special-purpose vehicle jointly owned by Malakoff (80%) and Solarvest Holdings Bhd (20%). The agreement outlines the obligations for energy generation and delivery over the 21 year term, with commercial operations targeted for the first quarter of 2028.

With this SPPA in place, we are well positioned to move the project into its next phase and ensure that long-term benefits – from lower emissions to the advancement of sustainable energy – can be realised for Malaysians. It also reinforces the importance of having a capable, committed team behind these developments. Their work allows us to take on projects of this scale with clarity and confidence, and that remains central to how we create value for the country.” The SPPA marks another step in Malakoff’s commitment to supporting Malaysia’s clean energy direction, he said.

Malaysia’s clean energy transition, with Malakoff playing an active role in advancing the nation’s renewable energy (RE0 ambitions. “This agreement represents a major milestone for us. It gives the project the long term foundation it needs and reflects the confidence placed in Malakoff to deliver Malaysia’s largest LSS development under the LSS Petra 5+ Programme. “Beyond adding substantial capacity to our RE portfolio, the project supports the country’s wider transition efforts by increasing the availability of green power for the national grid. LSS projects form part of Malakoff’s