Bring home the bacon

As the title suggested, today’s news are filled with monies :)

Malaysia’s digital dreamscape beefing up

💚 Yondr Group is building a colossal data center that will soon claim the titles of the largest in an emerging market. Located at the Sedenak Tech Park in Johor Bahru, boasting 72.5-acre of land, the 300MW IT load was recently injected with $150 million financing from IFC for its first phase of construction. This futuristic hub is set to earn its stripes with the prestigious EDGE green building certification from IFC, ensuring it stands as a paragon of resource efficiency. This project marks a significant milestone in the realm of green technology and innovation in Malaysia.

💙 Another project in Sedenak Tech Park belongs to Princeton Digital Group. The JH1 data center also secured US$280 million for its 150MW AI-ready powerhouse. This amount goes toward putting the first 52MW into operation in June 2024, marking a swift 12-month journey from blueprint to reality. JH1 is designed to cater to the infrastructure demands of some of the world’s most pre-eminent artificial intelligence and cloud companies.

And the second IPO in Philippines this year is…

Citicore Renewable Energy Corporation recently made its stock market debut on the Philippine Stock Exchange. The funds raised will primarily support the development of their seven operating solar assets (total 175.5MW) and additional ones owned by its parent firm.

The company listed 1.78 billion primary shares and 178.57 million overallotment shares. The initial public offering (IPO) raised Php 5.30 billion.

MOBILIST, an investment vehicle under the British Investment Partnerships program, invested USD 12.5 million. This investment is part of a partnership between Philippines Stock Exchange and MOBILIST for climate investment in qualified issuers.

Sounds like a continental breakfast - Japan’s Mitsubishi Materials Corporation has agreed to acquire Germany-headquartered H.C. Starck Holding GmbH from Vietnam’s Masan Group for US$134.5 million. Masan aims to transform into a consumer pure-play, while Mitsubishi Materials sees this acquisition as a step toward a recycling-oriented society. The transaction is expected to close by the end of 2024, pending approvals.

What’s the catch? Mitsubishi Materials will gain access to H.C. Starck’s production hubs in Europe, North America, and China, along with a tungsten scrap recycling platform supported by proprietary intellectual property.

Meanwhile, Masan will keep ownership of Nyobolt, a UK-based fast-charging tungsten and niobium battery technology company. Masan previously invested in Nyobolt through H.C. Starck. Their innovative tungsten-niobium battery technology promises a six-minute charging time for electric vehicles.

More green waves this way

EVs on the high sea - Singapore introduced its first 100% electric passenger vessel called X Tron.

And on land - Vietnamese EVs start selling in the Philippines from July 2024, which include cars, e-scooters and e-bikes. This is Vinfast’s 3rd market in Southeast Asia after Indonesia and Thailand.

The only country in Southeast Asia without a net-zero target, NO MORE. The Philippines is working on a low-carbon economy bill to clearly define the roles and responsibilities of both the public and private sector.

Investing in Indonesia, Malaysia? You must know about ESG sukuk - also known as green sukuk, is a Shariah-compliant financial instrument in which issuers exclusively use the proceeds of the issuance to finance investments in renewable energy or other environmental assets.

Had fun riding the green waves? Hit reply, let us know!

Wish you a wonderful day.