14/10/2026

BIZ & FINANCE WEDNESDAY | OCT 14, 2026

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VentureTECH invests in two companies

Market, which connects farmers with buyers, and Agri-Spark, which provides financing, tools and training to help farmers develop their operations. Mohd Shahar said the agreements should help both companies streng then their businesses, improve productivity and expand their markets. “More importantly, we want to see local companies such as these develop into players capable of competing at regional and inter national levels, while contributing to the strengthening of the country’s industries,” he added. He said the government’s “Made by Malaysia” aspiration should go beyond manufacturing products locally to developing and owning the technology, expertise and intellectual property behind them. “Our aspiration is not merely for products to be made in Malaysia, but for the technology, expertise and value behind those products to also be developed and owned by Malaysians,” Mohd Shahar em phasised.

involving biopharmaceuticals, small volume injectables and other products, including insulin and anti diabetic drugs. The investment agreement with VentureTECH does not, by itself, establish that VentureTECH will finance the entire project. AgriData Portal represents VentureTECH’s first investment in Sabah, extending the investment company’s reach into the agriculture sector. Mohd Shahar said AgriData’s technology-based approach had the potential to improve farmers’ pro ductivity through better farm management, financing and market access. “In the agricultural sector, the technology-based approach brought by AgriData Portal has the potential to help improve farmers’ productivity through better farm management, financing and market access,” he added. AgriData’s business model combines agricultural support with market connections and financing initiatives. Its platforms include AG

stood at 5.7%, he said. Approved investments recorded by the Malaysian Investment Develop ment Authority (Mida) between January and June 2026 amounted to RM218.5 billion, involving 2,746 projects expected to generate 99,030 job opportunities. “We want to be more than just an investment destination. We want to become a country capable of creating and commanding value from the investments we receive,” said Mohd Sahar. In healthcare, he said local manufacturing of biosimilars, inclu ding insulin, could strengthen pharmaceutical expertise and im prove medicine supply security. “The development of local capa bilities in biosimilar manufacturing, including insulin, can support the development of biotechnology and pharmaceutical expertise as well as strengthen the security of medicine supplies,” he added. Mida has previously reported a planned RM194.9 million pharma ceutical manufacturing project by Hanan Medicare in Rawang, Selangor,

o Strategic stakes in Hanan Medicare and AgriData Portal to strengthen pharmaceutical manufacturing, support tech-driven agriculture

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

economy,” he said in his keynote address at the event yesterday. Mohd Sahar said Malaysia needed to move towards an eco nomy driven increasingly by technology, knowledge and inno vation, rather than relying primarily on its ability to produce goods at competitive costs. “We also need to have the capability to develop technology, create added value and command markets,” he said. Mohd Shahar said the 13th Malaysia Plan provided a framework for improving productivity and com petitiveness, particularly through the development of high-growth, high value industries. Malaysia’s economy expanded 6% in the second quarter of this year, while growth for the first half of 2026

KUALA LUMPUR: VentureTECH Sdn Bhd has signed investment agreements with Hanan Medicare Sdn Bhd and AgriData Portal Sdn Bhd to strengthen local pharma ceutical manufacturing and support technology-driven agriculture, as the government seeks to develop higher value industries. Deputy Economy Minister Datuk Mohd Shahar Abdullah said the agreements should be measured not just by the capital invested, but by their ability to build domestic capabilities. “Success is not merely about the amount of capital invested, but the new value and capabilities we manage to build for the country’s

BMI: Malaysia’s fiscal deficit to narrow but spending risks persist KUALA LUMPUR: BMI has maintained its forecast for Malaysia’s fiscal deficit to narrow to 3.4% of gross domestic product (GDP) in 2027 from an estimated 3.6% in 2026. The Fitch Solutions unit said it expects the government to attain its 2027 revenue target of RM380.8 billion, a 4.7% year-on-year (y-o-y) increase from the upward revised 2026 target of RM363.3 billion. “We anticipate that revenue collections will benefit from a favourable growth backdrop. “The Ministry of Finance had revised higher its 2026 growth projections to 4.8-5.3% (BMI: 5.1%) from 4.0-5.0% previously. It expects growth to moderate to 4.2-5.2% in 2027 (BMI: 4.5%),” BMI said in a statement. It further said resilient economic activity should support Sales and Service Tax collections, which have risen from around 7.5% of total revenue in 2009 to 18.0% by the first half 2026. Meanwhile, higher oil prices are expected to boost Malaysia’s petroleum-related revenue. “While this suggests that petroleum-related revenue will probably inch higher from 2.5% of GDP in 2026 to 2.6% in 2027, the broader downtrend in Malaysia’s reliance on petroleum related income remains intact,” it said. Operating expenditure is expected to remain high, accounting for 82% of total expenditure, driven by higher subsidies and social assistance, including RM16 billion in cash assistance for low income households and a rise in the minimum wage to RM2,000 from RM1,700. The allocation for subsidies and social assistance was raised to RM74.5 billion, or 3.2% of GDP, from the original RM49 billion, amid higher energy costs. Although spending is expected to ease to RM72.7 billion in 2027, prolonged US-Iran conflict could increase subsidy spending further. Meanwhile, development expenditure is set to fall for the third consecutive year to RM83 billion in 2027 (3.6% of GDP), below the RM86 billion annual average implied by the government’s RM430 billion commitment through 2030. BMI said lower development spending could weigh on Malaysia’s longer-term productivity and innovation goals, while severe El Nino conditions could prompt additional subsidies for the agricultural sector. – Bernama

Leader Energy breaks ground on BESS project PETALING JAYA: Leader Energy Group Bhd marked the groundbreaking of its 100MW/400 MWh grid-scale battery energy storage system (BESS) project in Pajam, Negeri Sembilan, under Malaysia’s Battery Energy Storage System bidding programme (MyBeST). sodium-sulfur BESS pilot at the Leader Solar Energy II (LSE II) solar plant in Bukit Selambau, Kedah. Integrated with the plant’s 20MWac grid-connected photovoltaic system, the pilot demonstrates how battery storage can store excess solar electricity and discharge it when required, supporting more effective use of renewable energy. From left: Leader Enegy chief financial officer Jenny Ng, non-independent non-executive director Datin Seri Jessica H’ng, Sean H’ng, founder Tan Sri H’ng Bok San, group chief operating officer Ronnie Koo, and project director Mohd Nizam Mohd Nawi at the groundbreaking ceremony

integrated into Malaysia’s electricity system. Administered by the Energy Commission, MyBeST comprises four grid-connected BESS projects, each with a capacity of 100MW/400MWh. Together, the projects represent 400MW of power capacity and 1,600MWh of energy storage capacity, with commissioning scheduled for 2027. The MyBeST programme supports Malaysia’s long-term goals of reducing reliance on fossil-fuel peaking plants, lowering system costs over time and achieving the National Energy Transition Roadmap target of 70% renewable energy capacity by 2050. For Leader Energy, the groundbreaking marks a further step in its development as an integrated renewable energy infrastructure platform, bringing together renewable generation, energy storage and power transmission capabilities across Asia.

The ceremony marked the project’s transition into the construction phase and the group’s continued expansion into grid-scale energy storage. Developed through Leader Energy Storage Sdn Bhd under MyBeST, the project is scheduled for commissioning in 2027. It will provide additional flexibility to Peninsular Malaysia’s grid, supporting the integration of more renewable energy while helping manage changes in electricity supply and demand. The development builds on Leader Energy’s practical experience with its 1.45MWh

Leader Energy executive deputy chairman and group CEO Datuk Sean H’ng said, “Our experience at LSE II has given us practical insight into integrating battery storage with solar generation. With Leader Energy Storage project here in Pajam, we are building on that foundation as we expand into grid-scale storage and contribute to the next stage of Malaysia’s energy transition.” He added they are proud to contribute infrastructure that supports a reliable grid and enables more renewable energy to be