04/06/2026

BIZ & FINANCE THURSDAY | JUNE 4, 2026

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SkyWorld unveils 15-year growth strategy

SRKK AI signs underwriting agreement with TA Securities PETALING JAYA: Digital transformation solutions enabler SRKK AI Bhd yesterday signed the underwriting agreement business during Malaysia’s technology wave over the past two decades, through Multimedia Super Corridor and ensuing digital transformation initiatives. “Our upcoming IPO exercise positions us

with TA Securities Holdings Berhad ahead of its Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd. TA Securities is the principal adviser, sponsor, underwriter and placement agent for SRKK AI’s IPO exercise. SRKK AI implements end-to-end digital transformation solutions for enterprises, and embeds Artificial Intelligence (AI) into enterprises’ Information Technology (IT) lifecycles, across cybersecurity, business workflows, cloud, software, and analytics. SRKK AI’s IPO exercise entails a public issue of 64 million new ordinary shares in SRKK AI, and an offer for sale of 13 million shares. Of the public issue of 64 million shares - 14.20 million shares will be made available for application by the Malaysian public; 17.04 million shares for application by eligible directors, employees, and persons who have contributed to the success of SRKK AI; and 32.76 million by private placement to selected investors. SRKK AI CEO Yew Lip Sin said: “We have grown our

technology-driven we believe we can achieve our RM1 billion PAT milestone while laying a strong foundation for future regional expansion,” Lee added. A key enabler of SkyWorld 2040 will be the adoption of Prefabricated Prefinished Volumetric Construction (PPVC) technology. The group is currently establishing its first PPVC manufacturing plant in Penang, with SkyWorld Pearlmont in Seberang Jaya set to be the first project to implement the technology. Through PPVC, SkyWorld aims to improve construction speed, quality consistency and ESG performance, while building a scalable development platform that can support future affordable housing initiatives and regional expansion opportunities. As part of its long-term vision, SkyWorld intends to progressively expand beyond Malaysia into selected Southeast Asian markets with strong population and demographic growth, supported by a scalable business model and technology-enabled development capabilities. SkyWorld 2040 reflects the group’s confidence in the long-term fundamentals of urbanisation, housing demand, and sustainable city development. The group remains committed to delivering quality homes, building thriving communities, and generating long-term value for shareholders. innovation,

o Group aims to become a top 30 property developer in Southeast Asia by 2040

favourably to tap into the growing momentum of AI adoption across South East Asia, as regional enterprises and governments – including in Malaysia – begin to harness AI technologies for greater innovation, competitiveness and modernisation.” SRKK AI is one of the Managed Partners of Microsoft, and the first Malaysian solution provider to earn all pillars of key technical competency under the Microsoft AI Cloud Partner Programme. Recurring revenue constituted 50% of SRKK AI’s total revenue in the financial year ended Dec 31, 2024, via cloud services, IT managed services, data analytics and business intelligence, and rental of IT hardware and software. The balance was derived from IT consulting and project implementation, and sale of IT hardware and software. SRKK AI is slated to list on the ACE Market of Bursa Malaysia Securities Bhd in the third quarter of 2026.

KUALA SkyWorld Development Bhd yesterday unveiled SkyWorld 2040, the Group’s 15-year Long-Term Strategic Plan (LTSP), which will guide the group’s next phase of growth towards its Big Hairy Audacious Goal (BHAG) of becoming a Top 30 Property Developer in Southeast Asia by 2040. The strategy builds on the group’s on track execution of its pre-IPO mid-term target to launch RM4.6 billion in Gross Development Value (GDV) by 2026 and sets a clear roadmap for sustainable expansion over the next 15 years. SkyWorld 2040 is structured into three consecutive five-year phases. Under the first phase (FY2027–FY2031), the Group aims to achieve RM1 billion in Profit After Tax (PAT), supported by a target of RM12 billion GDV launches and RM10 billion in sales over the five-year period. Group CEO Lee Chee Seng said: “When we embarked on our IPO journey, we set a clear mid-term goal and remained disciplined in its execution. “As we approach the completion of that milestone, SkyWorld 2040 represents the next chapter of our growth journey. “It provides a long-term roadmap to scale our business, strengthen our LUMPUR: through the Carbon Capture, Utilisation and Storage (CCUS) deployment in Malaysia requires a whole-of-nation approach involving government agencies, industry players, researchers and financiers, while at the Asean level, it needs stronger regional collaboration to accelerate its adoption. The deputy director of the Environmental and Natural Resources Division of the Ministry of Economy, Azral Izwan Mazlan, said CCUS cuts across multiple sectors and ministries, making coordinated policy development and implementation essential to support the country’s net-zero emissions aspiration by 2050. “CCUS requires a whole-of-nation approach, even from policy-making to implementation, education and financing, and it is one of the main levers identified for decarbonisation to meet net-zero carbon aspiration by 2050,” he said during a dialogue session titled “CCUS Readiness: Is Asean Prepared for Carbon Capture at Scale?”, in conjunction with the Energy Transition Conference 2026 (ETCon26) here yesterday. Azral said that gaps remain across the CCUS value chain, particularly in carbon capture and utilisation, noting that supporting guidelines are being developed alongside the CCUS Act 2025 to ensure participation by

capabilities, and create sustainable value for all stakeholders.” To achieve its first-phase target, SkyWorld will focus on three key growth engines. Firstly, ‘Go For Launch’ - accelerating development launches with a target of RM12 billion GDV over the next five years to drive sales growth and earnings expansion. Secondly, +1 SEA Market Entry - strengthening its presence in Southeast Asia with entry into additional selected markets, building on its existing Vietnam presence, subject to product-market suitability and long-term strategic alignment. Thirdly, New Product Innovation - leveraging its full residential portfolio comprising the Awani Series, SkySignature Series, and X-Premier Series, while introducing the new S-Housing Series to expand access to quality and affordable urban living, particularly within the B40 segment, the largest addressable market. “Our first five-year plan is centred on doing what we do best, building quality homes for people who aspire to live in cities. “Through disciplined execution, a diversified product strategy, and

CCUS requires whole-of-nation approach and regional collaboration KUALA LUMPUR: The climate mitigation technology process

not only large corporations but also small and medium enterprises (SMEs) and local companies. He noted that Malaysia also needs international cooperation to advance CCUS initiatives, given the industry’s technology-intensive, capital-heavy nature. Meanwhile, Tenaga Nasional Bhd (TNB) Research Head of Decarbonisation and Renewable Energy Research Centre Noraziah Muda said carbon utilisation presents an immediate opportunity while large-scale carbon sequestration infrastructure is still being developed. Noraziah noted that CCUS remains the only available technology capable of capturing carbon dioxide emissions from existing thermal power plants, including gas-fired and coal-fired facilities, which are expected to remain part of the energy mix for years to come. “TNB Research started exploring CCUS in 2011, and we currently have a few pilot projects on capturing carbon dioxide from point sources. “We have a few approaches for utilisation, among others, biological use such as microalgae and crop plantations, as well as converting carbon dioxide (CO2) into e-fuels like methane or methanol,” she said. However, she noted that commercialisation challenges remain due to the significant energy requirements involved in capturing

(From left) ROSERGY Consulting managing director Rosman Hamzah, who served as moderator; Azral; Noraziah; MUFG Bank managing director in charge of corporate engagement on GX and Sustainability Yukimi Shimura; and Economic Research Institute for ASEAN and East Asia senior consultant for energy Dr. I Gusti Suarnaya Sidemen pose for a group photo at the Energy Transition Conference 2026. – BERNAMAPIC

energy transition agenda. Themed “Energy & AI: The Synergy for Energy Transition”, the conference is anchored on three content pillars, namely Energy for AI, AI for Energy, and Energy Transition (ET) for People, reflecting the growing interdependence between energy systems and digital technologies. – Bernama

Japan can start with the hub of capture and then after that slowly move into utilisation as well as storage of CO2,” she said. Held from June 3 to 5, 2026, at the Kuala Lumpur Convention Centre, ETCon26 is a flagship conference by TNB that brings together global stakeholders to accelerate the implementation of the national

and converting carbon dioxide into marketable products. Looking ahead, Noraziah has proposed the establishment of an Asean CCUS hub to facilitate regional infrastructure sharing and collaboration. “Asean has a very good opportunity to start with something; probably Malaysia, Indonesia and