15/05/2026

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FRIDAY | MAY 15, 2026

Incentives to spur adoption of electric trucks under study: Loke

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

KUALA LUMPUR: Malaysia is studying incentives to accelerate electric vehicle truck adoption as the government grapples with the country’s diesel subsidy bill exceeding RM2 billion a month and rising pressure to decarbonise commercial transport ahead of its 2050 net-zero target. Transport Minister Anthony Loke Siew Fook said the government is shifting part of its EV policy focus towards commercial vehicles after several years of concentrating primarily on passenger EV adoption. “Under the current circum stances, does the government have enough funds to improve com mercial transport? We are currently spending more than RM2 billion a month on diesel subsidies,” he told reporters at the Malaysia Com mercial Vehicle Expo in Kuala Lumpur yesterday. Loke said the government is examining various forms of incentives, including tax incentives, to reduce the cost of purchasing EV trucks, which remain significantly more expensive than conventional diesel-powered commercial vehicles. “The reality today is that an EV truck costs two to three times more than a conventional truck. This makes the transition difficult for many operators,” he said. According to Loke, EV truck adoption in Malaysia remains extremely limited, with fewer than 10 units currently operating nationwide, mostly on a trial basis by transport companies. “Much of the com mercial vehicle industry is still transitioning towards Euro 5 diesel standards, with EV trucks remaining far from mainstream adoption in Malaysia.” Loke acknowledged that charging infrastructure remains one of the biggest barriers to wider EV truck adoption. “If we want to encourage EV truck adoption or EV vehicle usage generally, there must be a com prehensive ecosystem in place, especially in terms of charging stations. That remains a major challenge for our country at the moment,” he said.

o Govt shifting part of focus to commercial vehicles as diesel subsidy bill tops RM2 billion a month Loke said the government believes the transition towards commercial EVs is unavoidable in the long term as Malaysia moves towards its net-zero emissions target by 2050, despite the challenges. “Whether we like it or not, many sectors, including transportation, must find ways to reduce emissions across every field and sector,” he said. Loke said countries such as China have already moved aggressively to mainstream EV truck adoption as part of efforts to reduce reliance on diesel fuel and improve transport efficiency. “In China, it has already become mainstream because the Chinese government wants to encourage EV truck usage to reduce dependence on diesel fuel.” However, he stressed that Malaysia’s transition would require a more gradual and pragmatic ap proach given current infrastructure limitations and the financial realities faced by transport operators. Loke said the government is studying incentive mechanisms and developing a broader EV ecosystem that could eventually support com mercial fleet electrification at scale. He added that the government also wants EV growth to support domestic industrial development through greater localisation and completely knocked down vehicle assembly in Malaysia. “We want to move towards greater

Loke launching the three-day Malaysia Commercial Vehicle Expo being held at the Mines International Exhibition and Convention Centre.

Duopharma (M) Sdn Bhd to supply insulin injection to Ministry of Health facilities until Feb 5, 2028 for contract value of RM52.54 million. The government also accepted the tender offer from Duopharma Marketing Sdn Bhd, together with Biocon Sdn Bhd, to supply recombinant human insulin formu lations to Ministry of Health facilities until today, for contract value of RM65.08 million. The group is also contracted to supply a total of 100 products to the ministry’s facilities until the end of this year. During Q1’26, the group paid a second interim dividend of 3.05 sen per share, equivalent to RM29.33 million, in respect of the financial year ended Dec 31, 2025. Exhibition and Convention Centre. The event features several new entrants, including Angka-Tan Motor, JAC Motors, Trucks Dotcom and Handal BCM, alongside returning exhibitors such as Allegiance Malaysia, which occupied the largest exhibition space this year. MCVE 2026 also introduces several firsts, including its inaugural country pavilion featuring seven Taiwanese companies, while the Association of Malaysian Hauliers hosted industry-focused Coffee Talks covering topics such as AI readiness, rebuilt trucks and road safety. Singapore-based LogiSYM is anchoring its CargoNOW logistics conference alongside the exhibition.

“As a leading homegrown pharmaceutical manufacturer in Malaysia, Duopharma Biotech is uniquely positioned to capitalise on these structural opportunities. “At the same time, to safeguard continuity of production during global macroeconomic and geo political volatility, we have pro actively strengthened our supply chain resilience through strategic inventory management, diversi fication of API sourcing and close engagement with key suppliers,” he said. The group was recently awarded two government insulin contracts through its wholly owned sub sidiaries. In February, the government accepted the tender offer from While diesel-powered trucks still dominate the local market and EV truck adoption remains in its early stages, he said Malaysia must start building the infrastructure, policies, and industry ecosystem needed to support future electrification efforts. “We need to start taking steps to see how our country can move towards EV truck adoption in a way that is more resilient and competitive,” he said. The Malaysia Commercial Vehicle Expo (MCVE) returns for its seventh edition this year, featuring its largest international participation to date, with overseas exhibitors increasing their presence at the three-day event being held at the Mines International

all business segments, driven by public sector demand in line with the government’s annual procure ment cycle. Quarter-on-quarter PBT grew 62.2% and PAT rose 61.2% respectively, underpinned by a higher revenue base and improved operational efficiency. Duopharma CEO Wan Amir Jeffery Wan Abdul Majid ( pic ) said the government’s strategic commitment to healthcare and medicine supply security augurs well for the group. “We anticipate a favourable operating environment in light of the deliberate emphasis on ex panding local pharmaceutical manu facturing capabilities, as indicated in the 13th Malaysia Plan and the New Industrial Master Plan 2030. EV adoption, but at the same time, we also want to develop the local industry,” he said. Loke said the current subsidy mechanism has remained stable and continues to support most essential commercial transport activities. “Most commercial vehicles, es-pecially those transporting contain-erised goods and covered cargo, continue to receive subsidised diesel prices.” Rising global fuel prices could eventually make it harder for the government to sustain broad diesel subsidy mechanisms indefinitely, particularly as Malaysia balances fiscal constraints with its long-term decarbonisation commitments, the minister said.

Duopharma Biotech posts profit growth in Q1, insulin demand normalises PETALING JAYA: Duopharma Biotech Bhd recorded a resilient surge in sales in Q1’25. The group’s revenue

was supported by growth in the private and export segments, which delivered encouraging year-on-year growth during the quarter, driven in part by the strong performance of the con sumer healthcare business. A stronger ringgit in the quarter eased active phar maceutical ingredient

financial performance in the first quarter ended March 31, 2026 (Q1’26), delivering a stronger profit before tax (PBT) of RM40.41 million, and profit after tax (PAT) of RM30.71 million, an in crease of 19.8% year-on year, despite revenue de clining 5.7% to RM247.88 million compared to RM262.74 million in the same period last year.

(API) input costs, which, combined with lower operating expenses and reduced net finance costs, led to higher PBT for the period. Meanwhile, Q1’26 revenue was 10.3% higher compared to Q4’25, supported by positive growth across

The moderation in revenue was primarily attributable to the public sector demand for insulin products, which has normalised to regular supply levels following the one-off