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#AEBF25 | Day 3 - Decarbonising ASEAN’s Industrial Parks

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This panel discussion highlights the critical importance of industrial decarbonization in Malaysia and the ASEAN region, emphasizing the need for integrated, low-carbon industrial ecosystems and strategic collaboration to achieve sustainability goals.

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Please be seated.

And without further ado, the floor is

yours, Miss Veronica. >> Yeah,

>> Yeah,

thank you Sarah for such a kind

introduction. And thank you so much for

all the panelists here. uh this is a

very uh honorable and also I'm very um

elated and also ecstatic uh to be part

of this uh panel session uh this

afternoon. So maybe just uh would like

to provide a segue into the uh keynote

speech uh from Mr. uh Ferdos uh earlier

on uh what would be the context uh of uh

today's uh panel discussion on why we

put a highlight on the importance of uh

industrial uh decarbonization.

uh I think first and uh foremost uh the

uh why we pursue uh integrated uh

lowcarbon uh industrial ecosystem is uh

because uh we need to think uh beyond um

of the systems that usually uh operate

in silos. So I think um since we have

also heard uh of the spoilers from what

the UEM group and UAM Lera uh the

sustain the sustainable innovative

sustainable um measures and also um

initiatives that uh the group has been

doing. Um we would like to learn more uh

about that uh from all of uh the great

uh gentlemen and also lady here. Um so

maybe uh without uh further ado um I

would like to um I would like to um

introduce again um our panelists here

maybe um to familiar familiarize

ourselves uh with uh the UEM group.

Maybe uh I would like to um to just uh

kind of cheat because uh we're in Koala

Lumpur here and uh there is a Malaysian

proverb um Indonesia also have uh that

as well that

like um so if you don't know uh

something or a person you cannot

actually take a liking um of that uh

thing or person so maybe uh I would like

to bring that um bring that uh

opportunity to Anchie uh Harmon uh to um

actually um explain or introduce uh the

initiatives uh under the UEM group. What

are the sustainability measures and also

um how how do these uh initiatives um

operate and uh be implemented? Yeah,

>> thank you Veronica and and thank you all

for turning up and thank you to my team

was here. Uh so on on on that note

Verica I think uh first and foremost I

have to give some you know honorable

mention to my shareholder also my board

member um we're here in in uh one big

happy family

uh we we already canal each other we we

do like and love each other so um if if

if I may uh Veronica if I would allow uh

Thank you Harmon.

Uh a very good morning uh everyone. Uh

thank you so much for participating uh

and and joining us here from the M group

of companies uh uh at at this session today.

today.

uh I I I thought it's a good idea to

just set the to to set the stage uh and

explain uh a little bit about our role

as a shareholder that's group and

essentially how we work together with

the various uh operating companies

within uh the M group on this very very

important uh agenda that's uh

decarbonization of uh of industries in

Malaysia. So the Malaysia um

national energy transition road map as

well as the uh the new industrial master

plan 2030 uh framework recognizes that

clean energy access underpins uh

industrial competitiveness. So for um M

as uh Kazana which is a sovereign wealth

fund of Malaysia uh and as Kazana's

infrastructure uh flagship

infrastructure uh group this isn't a peripheral

peripheral

it's actually central to how we think

about long-term uh value and industrial

uh resilience. So for um group UM Lera

headed by uh Chief Harman here on the

stage is our energy transition uh

platform. Uh so so the platform is

designed to build to to move us from

traditional asset ownership uh to a

sustainable infrastructure

uh enablement. So back in 2023 uh Kazana

via M group uh set up um M Lera to be

its green investment platform by putting

together various different assets. Neuro

Energy uh which is a power uh producer

in Koulim High Park which we acquired uh

a majority stake last year. uh Synergy

which is today one of the largest

renewable energy platform uh established

more than 10 years ago now and also Roda

Amas uh an EV uh infrastructure company

again uh which was acquired by um Mstra

last year. So that gives us an

integrated uh platform linking

generation energy solution and

sustainability uh infrastructure under

one ecosystem. So more importantly it

also complements the broader portfolio

companies we have within uh the M group

and that's include property uh

development through sunrise uh

infrastructure asset management and

energy uh sorry engineering uh services

through our subsidiary um agenta. So if

you think about it these are the core

enablers of industrial decarbonization.

So having all this asset within a group

allow us to uh take an ecosystem allow

us to to have an ecosystemwide view and

hence allow UM group to uh number one

align the strategic direction coordinate

capital and also make sure each projects

undertaken by uh our various different

operating companies reinforces uh one

another. So our I must stress our

strength uh as UM group uh is really uh

to realize the synergies between uh our

subsidiaries. Each operating companies

addresses critical aspect of industrial

uh decarbonization from clean energy uh

generation to sustainable uh township uh

development through Sunrise. So at the

group level as an active uh holding

company our role is to set financial frameworks,

frameworks,

governance standards and strategic

priorities that guide uh execution by

the various operating companies. So we

focus on uh sustainability targets that

are backed by solid uh investment logic

and uh and a measure measurable outcome.

Uh so before I pass uh the floor back to

the moderator I I just wanted to

emphasize that uh at M group

collaboration is how uh the group

creates value. Now each business may

have its own mandate but the strengths

come from how uh they complement uh one

another. So at group level uh we

maintain a portfolio uh visibility

identifying where capital should be

allocated uh visav uh risk and returns

and where synergies uh actually create

values. So we use a shared uh financial

framework and investment uh principles

rather than a centralized control at the

parent company. This is to keep uh all

our operating companies uh aligned. Um

so for us um financial resilience uh

means staying uh adaptable

uh by maintaining balance sheet uh

strength while uh investing in uh uh

future opportunities. I pause there and

I let the the actual subject matter

expert on decarbonization uh of

industrial park speak.

>> Yeah. Yeah. Thank you. Thank you uh Mr.

uh Ashu uh for providing the context of

uh what this great initiatives uh for

sustainability that uh the UEM group uh

has been doing for um our uh other Asan

um participants in attendance here. And

uh while we're at it, maybe just uh

allow me to um to also uh ask another

question uh in the linkage of the um

financial financial uh framework,

financial tools and also asset

management uh under the UEM group uh to

Mr. Astro here. So um considering UEM

group's um re and clean energy portfolio

uh what uh do you think is the

importance of linking uh financial

products with tangible uh sustainability

outcomes um such as uh verifiable um re

sourcing or carbon uh intensity

benchmarks. Yeah.

Um so to us uh linking financing to uh

tangible sustainable outcome is

obviously uh very important uh giving

given the growing nature of our

renewable energy business within uh

within the group. So every every energy

transition comes down to capital right I

mean who can raise it how much it costs

uh and how long it lasts. So to us at um

M group we take a portfolio view. Uh

some businesses are capital intensive uh

while others provide steady cash flow

that support them. So uh as a holding

company we apply the same investment uh

discipline across all our portfolios. We

have a clear hurdle rates. Uh we

calibrate cost of capital and uh we have

uh we we want to have a good visibility

on payback of uh all investment that we

make. We we we have a 7 billion suku

program uh that gives us uh flexibility

to fund uh strategic and sustainability

link uh projects uh through a long-term

uh efficient uh capital. I guess um uh

at the end of the day the goal is uh

trying to achieve balance uh developing

a structure uh a funding structure that

funds uh growth uh responsibly and keeps

leverage in check and making transition

projects uh self sustaining within the group.

group.

>> Okay. Uh maybe um if I may take a

liberty uh to to conclude that um I

think that um transparency and also

credibility is um the utmost uh

importance for uh sustainability

measures um in financing given that it's

a relatively new terrain uh for the

investors as well. So um maybe um

departing from that um I would like to

take um quite a bird view into uh the

context of Malaysia Malaysia's position

uh within uh the within ASEAN's uh

industrial uh decarbonization

uh efforts and also meners. So um to

Anik Harmon I have a question. So um do

you uh how do you think uh Malaysia's uh

geography and also infrastructure and

industrial base uh positions uh the

country as a natural hub for our e and

also green industries um within the region.

region.

>> Thank you.

So um Malaysia enjoys a a relatively

um good uh I think geography. it is uh

not within the ring of fire. So we don't

have uh any major earthquakes. We don't

have volcanoes. Um the terrain is is uh

not too mountainous. We don't have too

much uh inland water. So it provides for

uh a good base for solar power. Example

um in in Malaysia. I mean, just like in

in in Indonesia and uh I think only

probably in some parts of the

Philippines where you can get wind

power, but in in Malaysia is is

typically it's just solar and hydro. As

far as becoming a hub, I think we have

um the key the the the most important

feature of Malaysia is the fact that the

financing market in Malaysia is very

familiar with um infrastructure investments.

investments. Um

we we get to see a lot of banks coming

in. Um yesterday I met a multilateral

uh trying to see how they can provide

support, credit support. However, in

Malaysia, like just like what uh Chas

was saying, we have a 7 billion ringit

program, a sukul program um where we can

tap into it and the market is very deep.

So for us to go to the market and say

let's say if if uh currently we're

working on a close to 1 gawatt solar

farm uh at the south of Malaysia in in

the state of Joh

going to the market and trying to raise

funding for such a project is is not a

problem. uh we have uh within the UEM

group built various infrastructures like

roads um like um well you know roads,

highways, bridges um hospitals all

utilizing domestic funding. So um it's

one of the things which we we we haven't

fully seen where um you have a a a sukot

market elsewhere within the Assean

region. I I I had hoped to see a a a

bigger sukot market in Indonesia when I

was uh investing there on on a highway. Um

however, some structural changes have to

be done. as far as being a a model for

other ASEAN regions to to follow. Uh or

maybe you know take take a a few um

examples. Um building up um a a big

provident fund or pension fund and

investing it in local infrastructure

gives solid returns to um the people at

the same time building up the the

country. the the at the current moment

the push for renewable energy and

sustainable solutions is very big uh as

you know there's climate change um so

Malaysia is well positioned well well

positioned to quickly build up I think

in a in a very short time we we've u

built up uh about four to six gawatt of

solar and the plan over the next few

years will add even more uh gawatt of of

>> thank you uh Anjek Karman. Uh if I may

have a followup question um from your

answer. So uh given u Malaysia's quite

mature uh green uh financing um

ecosystem um how do you think it's

translated into uh industrial decarbonization

decarbonization

and um are integration for industry like

how easy it is or what are the current hindrances?

hindrances?

>> That's a good question. Uh that's like

exactly the mandate that we've been

given by JSR um decarbonization of

industrial parks. So what we've done is

that uh we've invested into Nur Power.

Nor Power is a private utility. It's the

only private utility that supplies uh

exclusively to an industrial park. It's

a a very matured industrial park uh up

north. and uh seeing the the need for um

the tenants or the industrial players to

decarbonize uh NOR has invested into

building up a solar farm. Uh so it won't

will not just be u powered by a gas

plant. There's also a 50 megawatt solar

farms being built and we're planning to

u encourage that that planting up to add

more uh to Kim High Park.

Um within our other group company

Synergy um we also um encourage a lot

more um decarbonization

for commercial industrial customers. So

we we do rooftop solas. Mr. Quark will

be able to give you the more details but

um each of the targets that we're

looking at is basically focusing on how

we help industrial players to reduce the

carbon footprint uh by giving several

solutions with the solar battery uh

storage um even you know from mini

hydros later on.

>> Thank you Anik Harmon. I heard about the

um koulim high-tech park and it's

actually a very intriguing um intriguing

uh topic uh for us to discuss because um

given um most of um states in ASEAN have

a uh vertically uh integrated uh

electricity market and I think uh the

audience here um would like to know more

about um how what it is and how uh it

actually operates and I think uh we have

here uh as our panelist uh Mr. Jen uh

who is the head of strategic business

planning and projects uh from Nur from

Nur Power. So um considering that uh the

P the Nur Power uh operates the Koulim

high-tech park uh which is uh Malaysia's

first uh private electricity utility. Uh

may we know more about what it is and

also um how does it um how can it be uh

actually enabled and how and yeah maybe

just maybe maybe because uh we have so

many burning questions about about the

kulim high-tech park maybe yeah maybe

for for for the audience here would like

to uh know more about the kim high-tech

park here

>> okay thank you Veronica Interesting

question though for most of the uh

players in here. Um N itself I think

it's an independent power utility and

also subsidiary of UNIM Lewa that

provides the electricity in an in a high

techch industrial park located in Kulim

Kada. Um being the energy backbone of in

Kulium high-tech park uh N actually

plays a pivotal role in shaping the

industrial parks the grids as well as to

to meet the current demand by the

customers or the end investors.

Um yep new has actually taken several

initiatives. I think firstly is the

diversified energy portfolios.

Traditionally NU has approximately about

220 megawatt combined cycle gas turbine

but um today we have actually expanded

up to 400 of megawatt uh generation

capacity of which about approximately

12.5% of it compromised from the

renewable energy. So I think that's the

first kind of a step that n uh begins

with to be and with uh um less as our

parent company we do hope to embark for

bigger larger renewable energy

penetration into the park probably up to

about 500 megawatt in the future. Um I

mean combining those traditional and

also the new renewable energy uh

integration into it uh it generally be

able to provide the energy security

while maintaining the targets and

efforts to decarbonize the ind the

assean industrial parks. Um of course

there will be others uh initiative that

no new has actually taken about too. Um

for example is like just to add on is

the uh for battery energy solar systems

uh which acts as an an enabler to enable

more penetrations to the to the

industrial parks uh that actually helps

to promote and also to to to enable uh

solar rooftops and and other means of

that's possible.

>> Yeah. Um uh thank you so much uh Mr.

Jen. So uh maybe uh a follow-up question

uh on that uh as well uh given given

that it's um an can be said as an

entirely new uh new thing um if if other

if other uh let's say uh initiatives uh

follow suit um how do you think um how

do you think initiatives uh such as uh

Kim High-Tech Park where um private uh

electricity uh utility ility for uh

on-site solar generation uh and tenant decarbonization

decarbonization

uh is enabled. How do you think uh it

will ease out for example um corporates

uh sustainability uh reporting or um

yeah or uh corporate um re procurement

uh in the in the country and the in the region.

region.

In fact, uh most of the tenants in Kulam

High techch park are from the RE 100

members. So uh having said that I think

uh new has also taken a step ahead uh to

even to even providing uh the the

procurement re certificates moving on in

the futures uh to ease and also to to to

allow the industrial parks and other new

tenants uh investors to come in to meet

the ESG sustainable goals too. Um as

part of the uh uh how say as part of the

certificates uh we also do offer for

other solar uh solutions that would help

uh them to at least to minimize and uh

the scope one and also scope two uh

scope one scope two electricity

procurement. Thank you. Yeah, this is a

very once again an interesting and also

a very uh important uh initiative that

um me personally would love to see it uh

being proliferated not only in Malaysia

but also in ASEAN um in the region given

uh the increasingly importance um

importance uh sustain sustainability uh

measures that and also the targets the

re targets that uh the region is is that

uh to embark as well. Uh maybe um also

bridging from uh the um from the

initiative of Koulim Hi-Tech Park. Um

let me let me go to Mr. Quark here uh

who is the group uh CEO of uh Synergy uh

CHAT uh Southeast Asia Parad. So um I

think uh we take a note uh also from

from uh uh Harmon and also Mr. Astral

that uh Synergy is also developing RE

projects uh such as um solar farms uh

for uh Malaysia airports um as one of

the examples. So um how do you see uh

the opportunities for uh p public and

also private um collaboration here uh in

developing green industrial zones um and

also uh achieving uh carbon neutral uh

infrastructure in Malaysia and also in

um Southeast Asia.

>> Okay, thank you for the question. U yes,

Seny is uh firstly just a quick

introduction to Seny. Uh, Seny is a

subsidiary of LERSA and um, Synergy

actually stands for clean energy. Um,

and we have been in the renewable energy

space for more than 10 years. Um, we do

we started in bio gas u making biogas to

generate electricity and then uh,

selling it into the grid. Uh, but now of

course we do have a diverse portfolio

including uh, solar solar on the rooftop

and solar farm as well. uh battery as a

service um as well as mini hydro. Yeah.

So we are in various parts of renewable

energy as well as uh because we are in

various parts we do have um uh products

that uh originate from them like

renewable energy certificates as well as

carbon credits that come from these uh

renewable energy investments and synergy

we are a operator a developer and owner

asset owner so we always go in uh for a

very long term uh usually we partner

with uh partners uh in Malaysia Here we

partner with um companies that supply us

waste. Uh for example from the palm oil

mills uh they supply waste. Yeah. So

they are always our partner and also in

solar farms or solar on the rooftop uh

partners will supply uh land either land

or the rooftops uh and then we partner

with them in that in that way. Yeah. So

we are always uh looking out for

partners because uh this is what we are

very used to. Yeah. and uh partnership

is something that we are developing a

lot uh in our portfolio. So when it

comes to the uh airport Malaysia uh

airports, yes uh we are developing uh a

very innovative uh solution there. It is

um groundmounted self- consumption solar

farm adjacent to the airport. Yeah. Uh

this is airport in Kai. So this um

opportunity arose because of the fact

that uh our energy commission uh

Suranjanaga came out with a new

guideline this year that enable uh solar

on the ground mount to be uh uh put up

yeah planted up right beside a facility.

Um but it requires a battery of course.

Yeah. Um so now we are developing this

uh solar plus battery. It will be able

to deliver electricity in a uh how do

you say control way because you do have

battery and the airport or the facility

that uh receives this electricity will

not only be receiving electricity when

the sun shines. Uh because you have

battery you are able to do a time shift.

So then um you can time shift it to a

certain period where it can also reduce

the maximum demand of the facility that

is receiving this electricity. Yeah. So,

uh that is in a way it is also energy

efficiency for the facility because now

um facilities do need to pay a certain

uh amount for uh maximum demand. So then

uh it is a two-way approach to have uh

green electricity. You do have savings

on tariff at the same time you have

green electricity as well as uh savings

on the maximum demand. Yeah. So this is

also in a partnership with the airport

and uh as we we have um a joint venture

together and we will build this together

and own and operate it for a a specific

period of time. Yeah. So that's a

example of our uh partnerships with uh

private sector uh in Malaysia.

>> Yeah. Very interesting. Uh I hear you

mention uh Suruhan Jay at Naga. I hear

you mention Crest as well. And I also

hear you mention uh RECC which shows the

very important uh linkage uh between uh

regulators uh developers and also uh the

business side uh in uh achieving

industrial uh decarbonization. So maybe

uh to uh to have a segue uh from that uh

I would like to know um how do you think

that uh this alignment uh between re

policies um and incentives uh because um

I guess it's all for the availability of

um corporate re procurement right uh in

the in the country can actually uh

enhance not only um national but also uh

regional sustainable bull uh industrial

uh competitiveness.

>> Okay. Thank you. Um I think for uh

regulations and um programs that are uh

available um I think energy commission

surja tanaga as well as uh seda

sustainable energy development authority

uh they uh do come up with uh programs

that are very encouraging for the market

and uh for us we are always um

participating in these programs and I

think for us the important thing is that

uh these programs are there and they

should be there as a stable program for

a uh long term. Um that means uh you

know what to expect uh so that you can

plan for it because all our investments

are for very long term. Um and it really

helps if these programs are are stable.

Yeah. And then you can plan for it. So I

think uh so far I I think that is uh

generally uh what we see. Um so that's

why the investment uh uh horizon that we

have over here I would say that uh uh

over the last few years we are able to

invest yearly. Yeah. Um in terms of bio

gas power plants, in terms of solar

farms, yearly we do have new investments

because there are uh programs that are

available made available yearly uh by

energy commission and also by uh SEDA

and these are programs that are uh

accessible. Yeah. And these are

transparent programs. So I think these

are a key element that uh we look

forward to. Uh apart from that those are

regulated kind of um programs. Yeah.

Apart from that we are also in um

marketdriven programs or rather

marketdriven requirements demand where

now we generate uh biomethane from the

bio gas um power plant instead of making

electricity we deliver this biomethane

to customers directly. Uh and that is

not through any program that is actually

unregulated market. Uh that is uh

businessto business um uh what do you

call engagement. Yeah. Uh that is also

uh going to open up the market a lot. Uh

we foresee because you you you can

really access uh various sources of bio

energy uh to do so. Yeah. So I would say

that for us we are mostly in the

regulated market uh where the

authorities do have these programs and

uh the important element of that is that

uh visibility of the program for the

long term.

So maybe uh for uh one uh critical thing

that is uh important is that uh clear

and also strong uh regulatory

uh measure is uh will signal and also

enhance uh investors um investors trust

uh for sustainability

um sustainability investment and uh

maybe on the on that as well and also on

the question of uh industrial park. I

hear as well that uh UEM Sunrise um is

also embedding sustainability uh

principles uh into its new industrial

park development in Johor. And here we

have uh Miss Ilia uh who is the head of

strategic master planning from UEM uh

Sunrise uh Bhat. So maybe uh if you

please um uh Miss uh Ilia if you would

like uh to introduce uh what is uh UEM

uh what is uh UEM sunrise and what uh

does uh it do for the uh industrial part

uh in Jor.

>> Thank you. Um first and foremost uh

Sunrise is actually um a the property

development arm under group. Uh over the

years we have proven track records in

developing townships. um integrated

developments industrial spanning across

Malaysia from Monara to Serin Heights in

the central region and putrianu sajaya

in Johor. Um beyond that we also have

international development in Melbourne

and Perth Australia. Um just few years

back we have looked into diversification

of uh industrial park um looking into

renewable energy within Gbangu Sajaya.

Uh hence we have alongside uh LRA and

else the group uh worked together in uh

developing a renewable energy park 400

acres approximately within Gabon Sajaya

that uh bridges the gap between just

renewable energy as well as um clean

infrastructure. So within the park

itself we have actually um embedded the

sustainability principle uh using the

sustainability design development

guidelines that we have uh developed

recently. Uh from the very beginning of

the planning itself uh we have

incorporated um utility corridors as

well as potentially putting in managed

utilities and shared utilities which can

be tapped directly from the main grid.

Um so that that's basically what we are

looking working on at the current moment.

moment.

If I may have uh another question uh

Miss Ilia. So um how can uh industrial

parks uh such as one uh in Johor um and

also other uh integrated uh developments

uh initiatives

um help can contribute to position uh

Malaysia and also um ASEAN uh as a

global green investment hub? like uh how

does and how will UEM sunrise uh bring

this vision uh into life?

>> Um I believe across Asian uh the borders

uh seen to fate uh not because of trade

and infrastructure but because of

energy. So with the implementation of

the Asian power grid um the transition

of clean energy from one region to

another will be seamless. So I believe

earlier on when Chiharma mentioned about

Lstra uh being the entity that built uh

the um the big one gawatt solar uh pump

in Joho become the backbone of this

energy transition and with likes of Seny

for instance looking into the uh carbon

uh solution for the entire system. So

here we are uh as part of the UN group

working uh collaborative together to

ensure that this green initiative as

well as the new energy transition is uh

implemented accordingly. So uh with that

I do believe that um being together as

one uh synergistic we will be able to

actually put Malaysia as one of the

green uh energy um hub in for the next generation.

generation.

Thank you, Miss Ailia. And if and if

it's okay, can I have another follow-up

questions to you? Yeah. Okay. So, uh I

really love um the notion that um um

borders across uh Assean is actually

fading uh because of um energy because

it shows how uh energy and also energy

transition is actually um driving us uh

globally and also transforms our lives

uh globally and uh maybe um um into that

uh vision as well uh Miss Elia um How

does um UEM sunrise uh future proof its

developments uh for the next wave of

technology and also uh energy transitions?

transitions?

Um okay, thank you so much for the

question. Um I I believe earlier on when

Jasro mentioned that we we are the

enablers. We bring down the clean energy

to the end users where communities can

actually see and and view. So these are

very tangible and these are the things

that we can actually um build upon. So

in our uh townships and uh master plans

and also all developments we have

started to incorporate all the things as

part of the early infrastructure uh as

well as the trunking of the uh utility

corridors to ensure that all this energy

can happen when the need arises. Uh just

to share with all we have currently

working closely with Synergy to

implement a solar panels installation to

all our assets um in JO specifically uh

in a ferry terminal and our um sport

center and sales gallery across Joho and

also um um central region. So it's

started off by us looking into um carbon

um reduction but then we are actually

portraying that the need of this clean

energy is very important to be instilled

into all our development and also

communities around us.

>> Thank you. Thank you so much um Miss

Elilia. Um so maybe uh on that um also

um my my key takeaway would be that um

still um green uh financial and also uh

enhancing uh investor trust uh is very

pivotal actually in driving uh

industrial uh decarbonization.

So uh maybe um with that uh I would like

to come back again uh to Mr. Ash here.

So um um what do you think um are the

innovative uh financing tools or uh

financing measures uh then that can

actually mobilize uh private capital

while also reducing uh project risk uh

in not only in Malaysia but also uh asan

>> I think there's there's actually a lot

of capital out there uh for renewable

energy and and and green infrastructure

related uh project uh actually and

Malaysia is one of those uh fortunate uh

country where we have a very deep uh suk

uh market. One can actually uh go to the

market and and embrace um

um long-term uh financing

uh with back uh by a uh uh a strong

investors. So again, I think I don't

think the issue is uh capital uh but

it's actually about bankability. So

there there's uh there's liquidity uh

waiting uh for green uh infrastructure

project uh in Malaysia and the region.

Uh but investors uh at the end of the

day uh need uh visible cash flow. uh

they they they'll be looking at re

reliable uh offtakers uh for green

project and uh and also strong uh data

uh transparency I must say. So at at UM

group uh we are building uh that

structure um with a models where uh

lenders long-term uh investors are

comfortable uh investing.

>> Thank you uh Mr. Ash. So um I think from

all the panelists here uh we have uh we

gain uh multiple insights from multiple

points of view uh from uh financiers

from developers uh from implementers as

well. So maybe uh I would like to have

one closing uh question for all the

panelists here uh to to give uh your

your insights uh into our audience. So

um I think um in some of the answers we

we can actually uh deduct deduct what is

the what is the main problem what is uh

the main gap uh that is actually left uh

for us uh to to fill. So um but but what

do you think is the main um obser

observable gap uh for uh ASAN uh for

this uh renewable energy integration uh

in decarbonizing its industries and what

uh innovative uh solutions um would you

like to highlight maybe uh from Mr. uh

Well, I think the way it goes uh at this

moment is that what the government

probably can do is to attract for a bit

of uh incentive probably to not only to

allow for new investors but also for

existing operational uh industries as it

is. Um with the new introduction of a

carbon pricing mechanisms and emissions

tradings uh I believe that probably be

able to further enhance uh and also to

invest in uh so in incentivize uh the

existing players uh be it uh with uh

current in kami high-tech or even in the

whole Malaysia and in the Assean region itself.

itself.

>> Mr. Cork please.

>> Yes. Well, I think uh a key enabler will

be the carbon tax um in Malaysia. Uh so

far we don't have carbon tax yet, but as

uh prime minister has already um uh

mentioned that it will be launched soon.

Yeah. And when carbon tax comes in then

uh you do have uh the imperative to um

well you do need to then uh take action

um because it is a legislation already.

Yeah. Right now I think it is a

voluntary carbon market most of it and

because it's voluntary it is uh left to

the companies to uh decide and adhere to

maybe certain kind of uh requirements

that they themselves set. Yeah. Uh but

when it comes to legislation is

different and um I I think u many

companies uh obviously would like to go

green um it is obviously has benefits uh

and I think that is the trend that we

are looking at right now. All right. Uh,

everyone always looks at ESG components

uh, in their business. Uh, but at the

same time, it is also a business that is

operating. So when you do that, uh, you

also do need to adhere to your well, you

do need to look at affordability of how

you go about uh, meeting your ESG goals.

So that is a very usual uh, requirement

for companies. So without the carbon tax

um it will be always uh that

conversation regarding affordability of

how you meet your ESG goals. Yeah. So

then uh there is always uh that premium

for green energy that uh comes into

conversation but then it uh there's

always that pressure to then pay market

uh price for it. So when carbon tax

comes in there is a value it is a known

value uh no dispute about that value

because you do have to calculate your uh

carbon emissions uh transparently. Yeah.

So then uh it will be able to spur more

investment because you would have a

known uh sort of premium to pay for for

green uh energy and electricity.

So um appetite for green and sustainability

sustainability

um investment is actually there and it's

um and actually many many uh private

companies would would love uh to do that

but uh there there are degrees of clear

policy actions that we need to actually

pursue in order to uh make that happen.

So maybe uh from that I would like to

give the floor to Miss Elilia on what

what is the the gap that you would like

to highlight and what innovative

solution uh from from the from from your

initiative that you've been doing with

um Mson Sunrise.

>> Um I would like to just um bring back to

what the keynote speaker mentioned

earlier on the main issues is

fragmentation. So um I I believe that we

need to change the issue of

fragmentation to the strength of

integration. Hence here we are uh

together to actually look into

connecting not just power but we are

looking into connecting people

connecting industries and connecting

opportunities. So um in terms of like

innovation I do believe that these

gentleman's uh have a lot of innovative

ideas and solutions to be brought over

to the u property segment. Hence uh us

as enabler we will actually look into

shaping the place that make it more

livable and um I believe with that uh we

can pave the way for an inclusive and

sustainable uh assean. So that that's

from me.

>> Thank you. Thank you so much uh Miss

Elia. Such a powerful um takeaway on on

that. Uh the main gap is actually uh fragmentation

fragmentation

and uh maybe um now we can move to to uh

Mr. Ash. Yeah.

>> Thanks America. Just maybe one final uh

perspective for me. Uh I think Malaysia

has uh already the the fundamentals. We

have a clear policy uh direction uh a

growing renewable energy uh capacity and

a strong uh regional links. But I guess

the next step is credibility. We need

predictable policy, transparent project

economics and and consistent uh

delivery. Investors at the end of the

day don't just look at inceptive. They

also look at reliability and uh and

governance. So I think if we get that

right uh Malaysia can uh stand out to be

a credible a real credible destination

for green capital.

>> Thank you. Thank you uh Mr. Ashel. I

think uh it's highlighted over and over

again uh during this panel session that

uh credibility is very imperative to

drive uh this thing uh forward. So maybe

uh last but not least uh an Harmon uh

what do you think? So I think if you

look at the landscape of the ASEAN

countries, all all the countries have a

gap uh on their renewable targets on the

sustainability targets that they need to

catch up. Um and we've we've spoken at

length on the

who UEM is and the strength that we

bring. I think to close the gap uh we

can go and help close that gap.

That's that's yeah, we are the solution.

Thank you. Thank you, Anjit Harmon. Um

um as a moderator, I'm very pleased um

for today's panel discussion and

actually uh very honored to learn so

many insights from uh Malaysia's

incredible uh journey for industrial

decarbonization through uh UEM group and

uh personally I think and I and I think

uh many audience here uh share also uh

the same uh sentiment that we would love

to see this being replicated and being

followed by other actors uh in the

region. So maybe uh to close uh this

panel session um I would like to extend

uh my heart my heartfelt um appreciation

and also thanks and uh gratitude to all

of uh the panelists here and also to uh

UEM group Bhat and also uh UEM Lera uh

for your valuable insights and also

commitment to advancing our

sustainability uh agenda uh which not

only um not only benefits uh Malaysia as

a nation but also uh Assean as a region.

So and thank you as well to all the

audience here uh for your uh engagement

and thoughtful uh attention. I wish you

a enjoyable lunch and uh I wish you uh

enjoyable um Assean Energy Business

Forum uh 2025 in this beautiful city of

Koala Lumpur. Um once again, thank you

so much and back to Miss MC, Miss Sara.

Thank you.

>> Thank you very much, Miss Veronica.

Thank you to our distinguished panelists

for an insightful and valuable

discussion. May we please request that

you remain on stage for a final group photo.

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YouTube Transcript:#AEBF25 | Day 3 - Decarbonising ASEAN’s Industrial Parks