14/04/2026

BIZ & FINANCE TUESDAY | APR 14, 2026

14

Saint-Gobain, Sarawak’s Flinken form joint venture

TNB actively operationalising target of 70% RE capacity by 2050 KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is actively operationalising its roadmap to achieve 70% renewable energy (RE) capacity by 2050, chief sustainability officer Leo Pui Yong said. This commitment is manifested among others, through a robust pipeline, including a 2.5 gigawatt hydro hybrid floating solar initiative and a 500-megawatt (MW) solar farm development. As of 2025, RE accounted for about 26.5% of TNB’s total generation capacity, with a total installed green capacity of 4,303MW. “To anchor these efforts, TNB’s carbon management plan focuses on optimising current generation assets to ensure every megawatt carries a lower emissions footprint, reinforcing a practical and immediate pathway towards sustainability,” she said at the Sustainability Week Asia 2026 held recently. While expanding generation capacity is crucial, grid readiness remains the ultimate enabler. “Under the Incentive-Based Regulation framework, the current Regulatory Period 4 (RP4) allocates RM43 billion for grid investments, which is more than double the previous cycle.” This unprecedented capital commitment underscores TNB’s resolve to build a smarter grid capable of managing increased renewable penetration. To further secure this infrastructure, TNB is launching a Battery Energy Storage System (BESS) pilot to mitigate intermittency and enhance overall grid stability. TNB’s energy evolution also serves as a regional anchor, Leo said. Existing cross-border links already facilitate security of supply, with 1,000MW of connectivity to Singapore and 380MW to Thailand. In a major step towards the Asean Power Grid (APG), TNB has operationalised Enegem (Energy Exchange Malaysia). This platform facilitates up to 50MW of cross-border green electricity trading, transforming regional integration into a functional and agile ecosystem. TNB has been actively contributing to the APG, as evidenced by cross-border connectivity projects such as the Vietnam-Malaysia Singapore, Malaysia-Indonesia, and Malaysia Sarawak interconnections. – Bernama

PETALING JAYA: Saint-Gobain, a global leader in light and sustainable construction, has entered into an agreement with Flinken Group, a Sarawak-based innovative con struction materials specialist, to establish a joint venture. The new entity, Saint-Gobain Flinken, will see Saint-Gobain hold a 70% stake with Flinken Group holding the remaining 30%. Under the agreement, Saint-Gobain Flinken will support next-generation needs and meet growing demands across Malaysia and the Southeast Asia region for light and sustainable building and construction materials. The joint venture will be supported by a phased capital investment into manu facturing upgrades and logistics infra structure in Sarawak. This includes the development of a dedicated logistics hub with enhanced warehousing and distribution capabilities, which will also serve as a potential export base for Southeast Asian markets. Saint-Gobain Asia CEO Ludovic Weber said, “This partnership reflects our strong belief in the importance of combining global expertise with local capabilities to accelerate sustainable construction. By working closely with Flinken Group, we are not only strengthening our presence in Malaysia but also building a platform that leverages technology, innovation, and local know-how to support Southeast Asia’s transition towards more sustainable and efficient building solutions. This is a key step forward in shaping the future of sustainable construction in the region.” Meanwhile, Flinken Group co-founder o Partners to drive sustainable construction in Malaysia and Southeast Asia

Weber (fourth, right) and Chai (fifth, right), with representatives from Saint-Gobain, Flinken Group and Sarawak Trade and Tourism Office Singapore following the signing of a strategic joint venture agreement establishing Saint-Gobain Flinken.

smart city projects that prioritise the transition to green buildings, promote sustainable construction practices and support sustainable urban design. “As Malaysia enters a transformative decade, technology, innovation and sustain ability will increasingly define its built environment, supported by a strong decar bonisation and efficiency agenda that is moving the industry from aspiration to compliance. The joint venture underscores our confidence in Malaysia’s long-term growth and reinforces our commitment to supporting the industry’s readiness for this next phase,” said Saint-Gobain Malaysia and Singapore CEO Lynette Siow. The joint venture will also see the introduction of advanced production technologies and sustainable product lines and aims to bring a positive socio-economic impact through new employment oppor tunities, structured training programmes for local talent, and measurable improvements in carbon reduction and material efficiency across product offerings. “We are confident that this partnership will contribute meaningfully to the development of Sarawak and we look towards many more impactful collaborations in the future,” said Sarawak Trade and Tourism Office Singapore CEO Chew Chang Guan.

Marcus Chai said that from their roots in Sarawak, they have grown steadily into a leading local manufacturer by consistently delivering high quality mortar solutions that meet evolving customer needs. “This milestone marks an exciting new chapter for us, as we partner with Saint Gobain. We are excited to continue growing the company together while supporting the development of Malaysia’s building materials industry,” he added. Malaysia’s construction industry remains a key driver of economic growth, supported by urbanisation, infrastructure development and rising demand for sustainable built environments. As the built environment continues to account for a substantial share of energy consumption and greenhouse gas emissions, the importance of greener building approaches has become increasingly pronounced. This is reflected in the expected expansion of Malaysia’s green building materials market, which is projected to grow from US$385.4 billion (RM1.53 trillion) in 2025 to US$677.2 billion by 2031. In line with this shift, Sarawak is reinforcing its commitment to sustainable urban development under the Sarawak 2030 Sustainability Blueprint through green building initiatives and smart city projects, advancing green building initiatives and

Malaysia’s natural rubber production in February drops to 21,705 tonnes PETALING JAYA: Natural rubber (NR) production decreased by 24.1% in February 2026 (21,705 tonnes) compared to January 2026 (28,579 tonnes) said Chief Statistician Malaysia, Datuk Seri Dr Mohd Uzir Mahidin yesterday. (February 2026: 586.69 sen per kg; January 2026: 576.14 sen per kg) while scrap increased by 2.0% (February 2026: 631.13 sen per kg; January 2026: 618.72 sen per kg).

According to the Malaysia Rubber Board Digest, the Kuala Lumpur rubber market was mixed in February. Positive sentiment was supported by the year-on-year decline in Malaysia’s natural rubber production, tightening global supply. Demand is expected to exceed supply again in 2026, providing underlying support. Stable economic signals, including steady growth expectations in China and rising crude oil prices, further bolstered market sentiment. However, demand from the automotive sector remained soft as China’s tyre production slowed during the Lunar New Year holiday and auto sales declined, including weaker electric vehicle sales. In addition, trade uncertainties increased due to plans to raise import tariffs, while US-Iran geopolitical tensions added further downside pressure to the market.

A year-on-year comparison showed that the production of NR decreased by 39.7% (February 2025: 36,005 tonnes). Production of NR in February 2026 for Malaysia was mainly contributed by smallholders (87%) compared to estates (13%). Total stocks of NR in February 2026 increased by 3.3% to 139,985 tonnes compared to 135,534 tonnes in January 2026. Rubber processors factory contributed 78.5% of the stocks followed by rubber consumers factory (21.4%) and rubber estates (0.1%). Exports of Malaysia’s NR amounted to 33,897 tonnes in February 2026, down 20% against January 2026 (42,386 tonnes). China remained as the main destination for NR exports which accounted 48.9% of total exports in

23.9% compared to January 2026 (RM1.3 billion). Analysis of the average monthly price showed that concentrated latex recorded an increase of 1.8%

such as rubber gloves, tyres, tubes and rubber thread. Rubber gloves were the main exports of rubber based products with a value of RM900 million in February 2026, a decrease of

February 2026 followed by Germany (17.8%), the United Arab Emirates (10.1%), Portugal (3.5%) and Brazil (3.2%). The export performance was contributed by NR-based products