logo
DNeX, PowerChina's subsidiary inked landmark agreement to advance renewable energy in Malaysia

DNeX, PowerChina's subsidiary inked landmark agreement to advance renewable energy in Malaysia

The Suna day ago
CYBERJAYA: Dagang NeXchange Bhd (DNeX) has signed a memorandum of understanding (MoU) with Sinohydro Corporation (M) Sdn Bhd (SCSB) to explore and develop key initiatives across Malaysia's growing renewable energy sector.
SCSB is a wholly owned subsidiary of China-based Sinohydro Corporation Ltd, which is a wholly owned subsidiary of Power Construction Corporation of China Ltd (PowerChina), a major Chinese state-owned company.
This strategic partnership underscores both parties' commitment to driving innovation, fostering technological advancement, and contributing to Malaysia's clean energy transition and economic growth, while upskilling local Malaysians through the transfer of technologies and best global practices.
DNeX group CEO Faizal Sham Abu Mansor said this partnership marks a pivotal moment for the company's journey towards a sustainable future.
'Our collaboration with SCSB will not only unlock new renewable energy potential across the nation but also enable us to embrace advanced technologies like small modular reactor (SMR).
'This opportunity will greatly complement our ongoing sustainability plans in the Energy sector as we intend to move our oil and gas portfolio closer to bridge fuel like natural gas instead of oil, and in our IT sector, which is focusing more on the provision of sovereign cloud and AI services.
'This requires a large amount of energy, and partnering with SCSB enables us to moonshot ourselves in the field of SMR and ensure our products and service offerings are not only reliable but also a carbon-free power source.
'Furthermore, our joint commitment to clean rare earth extraction aligns perfectly with our vision for responsible resource management and industrial growth.
'We are particularly excited about the prospect of developing local expertise and creating high-value jobs in these critical sectors,' he said in a statement.
SCSB serves as a wholly-owned subsidiary of PowerChina in Malaysia, actively undertaking major construction and engineering projects across the country since 1998.
Among its notable projects, SCSB participated in the construction of the Bakun Hydroelectric Plant (HEP) in Sarawak, with an installed capacity of 2,400 MW, which is the largest hydroelectric power station in Malaysia and Southeast Asia.
SCSB also participated in the construction of several major power plants in Malaysia, including Connaught Bridge Power Station, Tanjung Kidurong Combined Cycle Gas Turbine Power Plant, Hulu Terengganu Hydroelectric Project, Murum Hydroelectric Plant, Large Scale Solar 3 (LSS3) Coara Marang Solar Power Project and Telekosang Small Hydro Power Plants.
SCSB is currently carrying out the construction of the Baleh Hydroelectric Project, the largest ongoing hydroelectric power plant project in Malaysia, as well as the Miri Combined Cycle Gas Turbine Power Plant in Miri, Sarawak.
The MoU outlines several key areas of cooperation designed to support the government's vision of accelerating Malaysia's clean energy agenda in line with the National Energy Transition Roadmap.
The collaboration focuses on jointly identifying and developing renewable energy projects across Malaysia, including solar, geothermal, hydroelectric, and other clean energy technologies.
By combining their unique strengths, both companies aim to harness Malaysia's natural resources for sustainable power generation.
Additionally, the partnership seeks to transfer advanced technologies and best practices in fields such as solar, geothermal, hydropower, and SMR systems, accelerating the country's adoption of cutting-edge clean energy solutions.
The agreement also includes initiatives for sustainable rare earth exploration, targeting responsible mining to secure materials vital for renewable energy production.
Both parties are committed to innovation and the development of local talent, supporting Malaysia's net-zero emissions target by 2050 and ensuring a skilled workforce for the renewable energy and rare earth industries.
This approach positions Malaysia to capitalise on global energy transition opportunities while prioritising environmental responsibility.
'As we accelerate our shift towards a greener future, this partnership represents a milestone in our renewable energy transition and expansion from our traditional oil and gas business, reinforcing our dedication to environmental stewardship,' Faizal added.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Exclusive-Scale AI's bigger rival Surge AI seeks up to $1 billion capital raise, sources say
Exclusive-Scale AI's bigger rival Surge AI seeks up to $1 billion capital raise, sources say

The Star

timean hour ago

  • The Star

Exclusive-Scale AI's bigger rival Surge AI seeks up to $1 billion capital raise, sources say

FILE PHOTO: A message reading "AI artificial intelligence," a keyboard and robot hands are seen in this illustration created on January 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Surge AI, a data-labeling firm that competes with Scale AI, has hired advisors to raise as much as $1 billion in the first capital raising in the firm's history, sources told Reuters, as it seeks to capitalize on growing user demand amid Scale AI's recent customer exodus. The company, founded by former Google and Meta engineer Edwin Chen, is targeting a valuation of over $15 billion, sources said, cautioning that the talks are still in early stages and the final number could be higher. The funding would be a mix of primary and secondary capital that provides liquidity for the employees. Surge AI, which has been profitable and bootstrapped by Chen, has raked in over $1 billion in revenue last year, bigger than its better-known competitor Scale AI, which reported $870 million in revenue over the same period of time. In comparison, Scale AI was valued at $14 billion in a funding round last year, and was mostly recently valued at nearly $29 billion when Meta invested for a 49% stake in the company and poached its CEO Alexandr Wang to be its chief AI officer to lead its new Superintelligence Labs. Surge AI declined to comment. Like other Scale AI competitors, Surge AI is benefiting from Scale AI's customer losses following Meta's investment. This includesOpenAI and Scale's largest customer, Google, who are now planning to move away from the platform over concerns that doing business with Scale could expose their research priorities to Meta. Scale has said its business remains strong, and it is committed to protecting customer data. Surge AI's quiet yet meteoric rise has positioned it as one of the largest players in the crowded data labeling industry, defying the typical Silicon Valley playbook of raising massive rounds of venture capital to fuel growth. Founded in 2020, the San Francisco-based company has largely operated under the radar, known for its premium, high-end data labeling services used by top AI labs, including Google, OpenAI and Anthropic. As reinforcement learning from human feedback (RLHF) has become more important in training advanced AI systems, the demand for meticulously labeled, nuanced datasets has grown. Surge AI has capitalized on this trend by appealing to a network of highly skilled contractors instead of large pools of low-wage labor. The outsized funding of Surge would be a test of investor interest in the data labeling sector. Some investors view data labeling as an ongoing necessity for AI development, predicting a continued demand from leading AI labs. Others express concern that the industry's low margins and reliance on human labor could make it vulnerable to automation, as AI technology advances and the need for manual annotation diminishes. (Reporting by Milana Vinn and Krystal Hu in New York; Editing by Chizu Nomiyama )

China debuts first mixed-mode autonomous railway yard to boost logistics efficiency
China debuts first mixed-mode autonomous railway yard to boost logistics efficiency

Malay Mail

time2 hours ago

  • Malay Mail

China debuts first mixed-mode autonomous railway yard to boost logistics efficiency

The first train of the sea-rail intermodal service from Yiwu International Hub Port to Ningbo-Zhoushan Port has officially departed. The Suxi container handling station, the country's first railway terminal for automated driving in a mixed operation mode, has been opened for use. YIWU, CHINA - Media OutReach Newswire - 1 July 2025 - China has launched its first railway container terminal with mixed-mode autonomous driving capabilities, a move aimed at building an efficient, low-carbon, and intelligent modern comprehensive transportation system and reducing whole society logistics Suxi container handling station in Yiwu, east China's Zhejiang Province, began operations on June 27, with a freight train carrying 100 standard containers departing for the Ningbo-Zhoushan Port, the world's busiest cargo hub by tonnage, according to the Hangzhou Railway Logistics Center of the China Railway Shanghai Bureau part of the Yiwu (Suxi) International Hub Port, the terminal connects to the Ningbo-Jinhua Railway and has an annual design capacity of 660,000 twenty-foot equivalent units (TEUs). It features a rail loading zone, a container yard, a customs supervision area, and a digital management facility, approved as China's first railway yard autonomous driving experimental zone, integrates remote-controlled gantry cranes, automated storage systems, and intelligent transporters to enable unmanned operations alongside traditional workflows. This hybrid model marks a milestone in China's push to modernize logistics infrastructure, according to industry officials."This sets a new standard for autonomous operations in China's railway network," said Li Jinsong, deputy director of the Hangzhou Railway Logistics Center. "The mixed-mode design allows for seamless integration of automated and manual processes, enhancing efficiency while ensuring operational flexibility."Zhao Jianmin, general manager of Zhejiang Seaport Yiwu Hub Port Co., Ltd, highlighted the terminal's role in connecting inland Yiwu with the Ningbo-Zhoushan Port, enabling "one-time declaration, inspection, and release" for establishing a logistics corridor connecting the two regions, the terminal reduces transit times and costs, as cargo entering the Suxi station is treated as if it has arrived at the seaport, Zhao said. The issuer is solely responsible for the content of this announcement.

Gig workers bill to be tabled in parliament by September, says Ahmad Zahid
Gig workers bill to be tabled in parliament by September, says Ahmad Zahid

The Sun

time3 hours ago

  • The Sun

Gig workers bill to be tabled in parliament by September, says Ahmad Zahid

BANGI: The Gig Workers Bill, a pioneering legislation designed to safeguard gig economy workers in Malaysia, is expected to be tabled in Parliament by August or September, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi announced today. Speaking after the Sharing Economy and Gig Industry Roundtable Session, Ahmad Zahid highlighted that the bill would be the first of its kind globally, offering dedicated protections for over 1.12 million Malaysians engaged in the sector. 'Several countries have amended existing laws to include gig workers, but Malaysia is introducing a new act specifically for this industry,' he said. The bill aligns with efforts to build a fair, inclusive, and resilient future economy. Ahmad Zahid noted that the International Labour Organisation (ILO) has shown interest in learning from Malaysia's approach in drafting the legislation. This was conveyed by Malaysian Gig Community Secretariat chairman Datuk Seri Mohd Sharkar Shamsudin, who is currently in Geneva to discuss the bill with the ILO. Additionally, the soon-to-be-established Malaysian Gig Economy Commission (SEGiM) will play a crucial role in the national gig economy ecosystem. The commission, under the Prime Minister's Department, will oversee implementation, coordination, and compliance within the sector. 'SEGiM will strengthen self-regulation among platform providers while ensuring transparent policy enforcement,' Ahmad Zahid said. The Malaysia Digital Economy Corporation will continue as the technical secretariat, consolidating industry feedback and coordinating with the Human Resource Ministry. Prime Minister Datuk Seri Anwar Ibrahim had earlier assured that all welfare concerns for gig workers would be addressed through the bill. Also present at the session were Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said and Deputy Human Resource Minister Datuk Seri Abdul Rahman Mohamad.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store