Powerwell Holdings Secures RM57.61 Million Orders from Global Tech Giants, Catalysing Malaysia’s Data Centre Expansion
Bursa Malaysia listed leading innovator in electrical solutions Powerwell Holdings Berhad (“Powerwell Holdings” or “Group”), is thrilled to announce the receipt of purchase orders totalling RM57.61 million from a renowned multinational technology corporation. This monumental deal, secured by its wholly-owned subsidiary, Powerwell International Sdn Bhd (“Powerwell International”), underscores Powerwell’s pivotal role in the rising data centre sector in Malaysia and Southeast Asia.
The purchase orders, dated May 24, 2024, encompass the supply, installation, and commissioning of low-voltage switchboards and remote power panels for a high-profile data centre project in Selangor. This initiative is set to significantly contribute to Powerwell’s consolidated earnings and net assets for the financial year ending March 31, 2025 (“FY2025”)
Powerwell Holdings Berhad’s Executive Director, Ms Catherine Wong, said, “This agreement reflects the trust and reliability that major tech players place in Powerwell and positions us at the forefront of Asia’s fast-expanding data centre market. We are committed to delivering excellence and innovation, ensuring the successful execution of this project within the stipulated timeline.”
The data centre market in Malaysia is experiencing exponential growth, driven by escalating demands for cloud services and digital transformation across Asia. The country’s strategic location, robust infrastructure, and government support make it an increasingly attractive destination for data centre investments. Recent developments in the region,
including substantial investments by global tech giants, reinforce Malaysia’s potential to transform into a leading data centre hub in Asia.
The country received RM76 billion (US$16 billion) worth of investments from its data centres between 2021 and March 2023, and its data centre market is expected to attract investments of US$2.25 billion by 2028.
Some of the recent developments include the announcement by NVIDIA Corporation at the end of last year to collaborate with a local entity to develop a US$4.3 billion Artificial Intelligence (AI) cloud and supercomputer infrastructure. Recently, Microsoft has also committed to a US$2.2 billion investment over the next four years, the largest in its 32-year history in Malaysia, focusing on establishing a robust cloud and AI infrastructure to support Malaysia’s digital ecosystem.
“These investments by global tech giants enhance the technological landscape in which Powerwell operates and also create a ripple effect of opportunities for local suppliers and service providers in the tech sector. As Malaysia strides towards becoming an advanced digital economy, Powerwell is strategically positioned to contribute significantly to this growth, leveraging cutting-edge technology and comprehensive expertise in electrical solutions for data centres,” Catherine Wong added.
