KUALA LUMPUR (March 10): Khazanah Nasional Bhd is investing and undisclosed amount in Yinson GreenTech’s (YGT) electric vehicle (EV) charging division, chargEV, to increase the number of charging stations nationwide.
YGT is the green technologies business unit of Yinson Holdings Bhd (KL:YINSON).
The move is to support the Ministry of Investment, Trade and Industry’s (Miti) commitment to instal 10,000 EV charging points throughout the country.
Khazanah, through Dana Impak, is supporting the government’s efforts to spur and prepare Malaysia for EV adoption, by supporting chargEV, seeded by Malaysian Green Technology and Climate Change Corporation (MGTC), an agency under the Ministry of Natural Resources and Environmental Sustainability (NRES).
According to MGTC, there were 3,611 charging points nationwide at the start of 2025.
YGT chief executive officer Lim Chern Yuan said the partnership with Khazanah comes at an opportune time, when it is experiencing substantial business growth.
As of December 2024, YGT’s pay-per-use revenue has increased fivefold, and its charging sessions have doubled compared to the same period in previous year.
“We look forward to further enhancing the country’s EV ecosystem to meet the rapidly growing demand for reliable, convenient and seamless charging experiences across Malaysia,” he said.
Yinson’s share price was up 0.44% to RM2.25 a share earlier on Monday, giving it a market capitalisation of RM6.4 billion. Year-to-date, it is down 14.39%.
Source: The Edge
