23/02/2026

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MONDAY | FEB 23, 2026

Wasco Greenergy looks beyond Malaysia, Indonesia o Steam energy specialist aims to supply technology, biomass-based systems to clients in selected Southeast Asian markets ago and that Malaysia and Indonesia remain the group’s core markets today.

T7 Global unit appointed Petronas panel contractor for support services PETALING JAYA: T7 Global Bhd has secured a fresh mandate from Petroliam Nasional Bhd (Petronas), reinforcing its position within Malaysia’s energy services landscape. In a Bursa Malaysia filing on Friday, the group announced that subsidiary T7 Intelligent Re contractor for third-party pro fessional and support services across the Petronas Group of Companies. The appointment, effective from Jan 1, runs for two years and positions T7 Intelligent Resources within Petronas’ approved panel for the provision of professional and support services. According to the filing, Petronas granted approval on Feb 20 for the company to make the announcement. While the appointment does not guarantee a fixed contract value, it enables T7 Intelligent Resources to undertake work assignments issued by Petronas during the tenure. The board noted that any financial contribution will depend on the issuance of specific work orders. The company acknowledged customary execution risks, including the availability of skilled manpower, equipment readiness and regulatory considerations. However, it emphasised that T7 Intelligent Resources has the track record and technical expertise required to manage and mitigate these factors effectively. Importantly, the appointment does not affect T7 Global’s issued share capital or the shareholdings of its substantial shareholders. The board confirmed that none of the directors, major shareholders or persons connected to them have any direct or indirect interest in the appointment, and that shareholder approval is not required. sources Sdn Bhd has received a letter of appoint ment from Petronas to serve as a panel

ciency gains today. “For example, our boilers are designed to run continuously for months with minimal downtime – something many competitors cannot achieve. This reliability directly translates into higher uptime, better fuel efficiency and lower lifecycle emissions.” The group is integrating digital tools and automation into bio energy projects to improve opera tional reliability. “We are integrating real-time system monitoring, predictive maintenance analytics, perfor mance optimisation dashboards, remote diagnostics and technical support. “Biomass plants are more operationally complex than natural gas systems. By embedding digital tools, we help clients overcome this complexity. This enables us to anticipate maintenance needs before failures occur, minimise downtime, optimise fuel mix and combustion efficiency, and extend asset life. “The result is better plant reliability and stronger returns over the full lifecycle of the investment,” Lee explained. Looking ahead to 2027 and beyond, Lee said Wasco Greenergy’s innovative focus is about continuous engineering improvement and execution excellence. “Post listing, we will focus on investing in technical talent and training, expanding digital and automation capabilities, and encouraging knowledge sharing between the Malaysian and the Indonesian teams. “We are also building stronger project management and service frameworks. Our teams are already experienced in palm oil biomass systems, a highly specialised field. The next phase is to scale that expertise across more projects and markets while maintaining strict delivery discipline.” Wasco Greenergy made its debut on Bursa Malaysia’s Main Market on Dec 11, 2025.

Together, these countries account for about 85% of global palm oil production, generating significant biomass residues that underpin the group’s entire business model. “Our key milestones over the next three to five years are centred on strengthening our execution and service capabilities in Indo nesia, which is already a major operating market for us, while expanding our installed base of biomass steam and power systems for industrial users across both Indonesia and Malaysia. “We also aim to grow our BOO portfolio, where we not only supply technology but also own and operate energy assets for clients, and selectively enter neighbouring Southeast Asian markets such as Thailand, Myanmar and the Philippines through BOO projects. “Importantly, our approach is not rapid geographic expansion, but disciplined deepening of presence in markets where bio mass economics and industrial demand are strongest,” Lee said. When asked about what emerging technologies, such as advanced turbines or artificial intelligence-optimised biomass processing, and how Wasco Greenergy will prioritise to enhance efficiency and reduce emissions by 2030, Lee said the group’s philosophy is to prioritise proven, deployable technologies rather than experimental concepts. Key areas of focus include higher-efficiency steam turbines and boilers, advanced combustion systems capable of operating at high EFB feed rates, improved heat recovery and energy optimisation, data-driven performance monitoring, and predictive maintenance tools. Lee said, “We are not chasing technologies that look impressive on paper but are not commercially viable. Instead, we focus on inno vations that deliver proven effi

Ű BY JOHN GILBERT sunbiz@thesundaily.com

SHAH ALAM: Wasco Greenergy Bhd, a subsidiary of global energy solutions and infrastructure provider Wasco Bhd, aims to scale up by offering modularised, industrial grade systems as industries across Malaysia and Indonesia are under growing pressure to decarbonise. CEO Lee Yee Chong said industries in both countries are seeking solutions that are practical, operationally reliable and inte gratable with existing plants. “Many factories currently rely on natural gas, diesel, or even coal for steam and power. Biomass, particularly empty fruit bunches (EFB), can provide a cost-com petitive, carbon-neutral alternative in suitable operating contexts. “Our strategy is to replace existing fossil-fuel boilers with EFB-based systems, offer build own-operate (BOO) models so clients do not need to manage unfamiliar technology. “We also provide long-term operation and maintenance sup port, deliver phased transitions instead of large one-off overhauls. “The economics already make sense. In many cases, raw EFB fuel is cheaper than natural gas and even coal. This allows clients to reduce emissions while also lowering operating costs – a powerful combination that sup ports rapid adoption. “Wasco Greenergy has already proven its technology with plants running continuously for over four to five years,” Lee told SunBiz . Wasco Greenergy specialises in engineering, procurement, con struction and commissioning of

steam-energy systems. The group’s portfolio includes biomass-fired boilers, gas-fired boilers, heat recovery steam generators, Shinko steam turbine generator systems, and equipment for the palm oil milling sector. Lee highlighted several key realities shaping the business, including EFB, the most abundant and lowest-cost biomass fuel in Malaysia and Indonesia. He said many industries want to decarbonise but lack the technical know-how to run biomass systems. While natural gas prices fluctuate, biomass provides long term cost stability, Lee said. Furthermore, he continued, carbon taxes and credits are still evolving but will likely become a major economic driver. Elaborating, Lee said Wasco Greenergy established operations in Indonesia more than 20 years Lee says Wasco Greenergy focuses on innovations that deliver proven efficiency gains.

CPO futures set for profit-taking, rubber seen firm on weather risks KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to see profit-taking this week as international traders return from the Chinese New Year holiday, a trader said. Malaysia and Indonesia, providing sufficient supply for the physical market. “Physical buying interest is expected to come mainly from India, Pakistan, the Middle East, the European Union and, to a lesser extent, the United States,” he told Bernama. South went up by RM50 to RM4,100 a tonne. Meanwhile, the Malaysian rubber market is expected to trend upwards this week, as heavy rainfall persist across key producing regions, ad versely affecting rubber productivity, an industry expert Denis Low said. “The Thai Meteorological Depart ment has warned of summer storms bringing heavy rains, gusty winds, lightning and possible hail, while the Malaysian Meteorological Depart-ment has issued advisories for thunderstorms, heavy rain, and strong winds in several areas,” he told Bernama. be impacted by US economic growth and rising concerns about the US-Iran conflict. “The Association of Natural Rubber Producing Countries anticipates a positive outlook on global demand for rubber as the approaching wintering season will result in low production.”

Interband Group of Companies senior palm oil trader Jim Teh said the futures are expected to trade between RM3,800 and RM3,900 per tonne this week as international participants return and reassess their positions. “CPO inventories remain ample in

Meanwhile, the Malaysian Rubber Glove Manufacturers Association said the market is likely to pick up this week but may remain mixed, tracking regional rubber futures and the ringgit’s strength. It said the market will continue to

Low said prolonged Chinese New Year holidays have impacted rubber production and trading activities. He said that the ongoing US-Iran conflict continues to weigh on market sentiment, as it may cause rubber demand to rise or decline sharply.

On a Friday-to-Friday basis, the March 2026 contract rose RM113 to RM4,063 per tonne, The weekly trading volume shrank to 194,724 lots while open interest declined to 228,011 contract. The physical CPO price for March

On a Friday-to-Friday basis, the Malaysian Rubber Board’s reference price for Standard Malaysian Rubber 20 gained 5.5 sen to 762.5 sen per kg while latex in bulk increased 7 sen to 585.5 sen per kg.