16/04/2026

BIZ & FINANCE THURSDAY | APR 16, 2026

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Malaysia’s B12 plan to mildly raise palm oil demand KUALA LUMPUR: CIMB Securities Sdn Bhd said the B10 programme could consume roughly 750,000 tonnes of palm oil annually at full rollout, as Malaysia advances plans to increase its biodiesel blending mandate. Based on this, the research firm said the initial rollout of B12 is estimated to raise palm oil consumption by 150,000 tonnes to 900,000 tonnes. “This incremental demand is modest, representing only 0.7% of Malaysia’s 2025 palm oil output. Therefore, while the planned increase in the biodiesel mandate is positive, it is unlikely to be a near-term game changer,“ CIMB Securities said in a report. The research firm noted that Malaysia plans to raise its biodiesel blending mandate from B10 to B15, starting with an initial rollout of B12, to strengthen energy security. Economy Minister Akmal Nasrullah said the move will not incur additional costs, as it leverages existing blending infrastructure and the current B10 programme demonstrates sufficient readiness for higher blend rates. The decision follows discussions at the National Economic Action Council and forms part of a broader strategy to extend domestic diesel supply and reduce reliance on fossil fuels. The government has outlined a biofuel plan under the 13th Malaysia Plan (13MP), including phased depot upgrades to support higher blends of up to B20 and B30, alongside plans to introduce a B30 mandate for the commercial and public transport sectors. The policy shift comes amid a sharp rise in diesel prices driven by ongoing tensions in the Middle East. Diesel prices in Peninsular Malaysia have surged from RM2.99/litre in Feb 2026 to RM6.72/litre as of April 9, 2026, underscoring the urgency of accelerating biodiesel adoption as a cost-mitigation and energy-security measure. CIMB Securities said the impact becomes more meaningful at higher blend levels. “A move to B15–B30 could increase palm oil demand more meaningfully by 0.38–1.5 million tonnes, equivalent to 1.8–7.4% of Malaysia’s supply,“ it said. as advanced manufacturing and data centres, the completion of SPE enhances ES Sunlogy’s visibility in Malaysia’s fast evolving clean energy space. The company believes projects of this nature will continue to support the broader adoption of renewable energy while strengthening its own credentials in delivering and participating in energy transition-related infrastructure. Moving forward, ES Sunlogy remains committed to supporting Malaysia’s low-carbon ambitions through disciplined execution, strategic partnerships and deeper participation in renewable energy opportunities that complement its core engineering capabilities. semiconductors,

Bus Cap appoints TA Securities for ACE Market IPO From left: Ng Chong Yan, Bus Cap Bhd managing director Ng Chai Sing, TA Securities Holdings Bhd operations executive director Tah Heong Beng, head of corporate finance Dominic Seah, and vice-president corporate finance Cheong Wen Jie at the signing ceremony.

capacity fleets,” he said. Bus Cap

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Renewables (30%). Renewable energy generated by the plant will be supplied virtually to Micron Memory Malaysia Sdn Bhd (Penang) under a long-term Corporate Green Power Agreement, bundled with Renewable Energy Certificates over a tenure of 21 years. These projects enable corporate consumers to directly participate in decarbonisation through market based mechanisms, supporting Malaysia’s broader energy transition agenda. Through its participation in SPE via Savelite Engineering Sdn Bhd, ES Sunlogy continues to expand its footprint beyond conventional M&E engineering into long-term renewable energy assets, in line underwriting agreement. Bus Cap executive director Bernard Ng Chong Yan said the signing of this underwriting agreement with TA Securities marks a significant milestone in the group’s IPO journey. “With the underwriting structure now firmly in place, we are fully focused on preparing for the prospectus launch while laying the groundwork for our operational expansion. “As the commercial transport sector continues to modernise across Malaysia and Singapore, our transition to the public markets will unlock greater capital flexibility, enabling us to accelerate production capacity, enhance operational efficiency, and meet the growing demand for higher

manufactures bodies, assembles bus bodies with chassis sourced from principals, installs fittings and accessories to form fully built-up buses, and provides repair and maintenance services. The group has established a strong presence in Malaysia’s bus building industry serving bus operators, travel companies, and government agencies, while successfully expanding its footprint into the Singapore market. Key expansion initiatives include the construction of a new production facility, strategic investments in semi-automated fabrication technologies to drive operational productivity, and strengthening working capital to fulfil an expanding order book. bus

KUALA LUMPUR: Bus Cap Bhd, a bus builder with over five decades of market presence, has signed an underwriting agreement with TA Securities Holdings Bhd for its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia. TA Securities has been appointed as the principal adviser, sponsor, underwriter, and placement agent for the IPO exercise. This agreement marks a critical step forward, officially advancing Bus Cap towards its prospectus launch and subsequent market debut. The IPO comprises 107.34 million mechanical and electrical (M&E) engineering services as well as the generation and sale of renewable energy, completed the Selarong Pertama Energy Sdn Bhd (SPE) solar photovoltaic plant in Kulim, Kedah, under Malaysia’s Corporate Green Power Programme (CGPP), reinforcing its growing participation in the nation’s energy transition. The completion was commemorated at an official ceremony held by Micron Memory Malaysia Sdn Bhd (Penang), attended by Tenaga Nasional Bhd (TNB) through its wholly owned subsidiary TNB Renewables Sdn Bhd, Solarvest Holdings Bhd and ES

The event was graced by Deputy Prime Minister and Minister of Energy Transition and Water Transformation (PETRA) Datuk Amar Fadillah Yusof. The SPE solar farm is a 29.99MWac utility-scale solar photovoltaic plant developed under the New Enhanced Dispatch Arrangement (NEDA) framework. The project is undertaken via Selarong Pertama Energy Sdn Bhd, a joint venture between Savelite Engineering Sdn Bhd, a wholly owned subsidiary of ES Sunlogy (40%), Blazing Solar Sdn Bhd, a wholly owned subsidiary of Solarvest (30%), and TNB new ordinary shares, representing about 28% of the enlarged issued share capital, and 19.16 million shares, representing about 5%, bringing Bus Cap’s total issued shares to 383.38 million upon completion. Of the new shares, 19.16 million will be made available to the Malaysian public, 11.5 million will be allocated to eligible directors, employees, and contributors to Bus Cap and subsidiaries, and 76.67 million will be placed out to selected investors, while TA Securities will underwrite 30.67 million shares offered to the Malaysian public and

ES Sunlogy completes CGPP solar plant in Kulim KUALA LUMPUR: ES Sunlogy Bhd, an established provider of Sunlogy, marking the completion of the SPE solar photovoltaic plant in Kulim, Kedah.

with its strategy to build recurring and sustainable income streams. ES Sunlogy managing director Khor Chuan Meng said that the completion of the SPE solar photovoltaic plant marks an important milestone in the group’s renewable energy journey, demonstrating its ability to deliver utility-scale clean energy infrastructure in partnership with established industry partners. “This project strengthens our presence in Malaysia’s energy transition landscape while supporting our long-term strategy of building recurring income streams through renewable energy assets,“ he said. As demand for renewable energy continues to rise from sectors such