Over the next five years, the group intends to expand its presence in the green sector, nurture local green players and form strategic alliances to undertake projects in renewables and storage, integrated energy solutions, green or electric mobility, and waste management.

The group’s green sector initiatives will be led by its newly established subsidiary UEM Lestra Bhd.

“We are long known as Malaysia’s nation-building partner and we will now play the same role but with greater focus on tackling climate change by supporting and developing the country’s green industries from renewable energy (RE), waste management to green infrastructure and transportation,” said UEM Group managing director Izani Ghani.

The group is presently engaged in discussions with multiple international investors who have expressed a strong interest in investing in Malaysia’s RE sector, with details expected to be revealed by the end of 2023.

“We intend to lead the country’s decarbonisation agenda and this includes supporting the government’s efforts to transition towards sustainable energy solutions and to be a carbon-neutral nation, achieving a 70% RE capacity in the country’s electricity supply by 2050,” said Izani.

“We will also be working towards enhancing domestic green capabilities over the long-term and increasing the country’s competitiveness by upskilling and developing local workforce talent. Our aim is twofold – to create more jobs and offer high-quality employment opportunities,” he added.

UEM Group, founded in 1966, has played a significant role in the development of Malaysia’s major infrastructure projects.

It holds majority stakes in various core businesses, including expressways, township and property development, engineering and construction, and asset and facility management.