Kuala Lumpur, Malaysia – 24 July 2024: A wholly-owned subsidiary of Malakoff Corporation Berhad (“Malakoff”), Malakoff Power Berhad (“MPB”), has inked a Memorandum of Understanding (“MoU”) with Korea South-East Power Company (“KOEN”) to explore potential collaborations. This MoU aims to facilitate the exchange of information, experiences and best practices in the operation and maintenance of power plants, including supply chain management, site visits, technical workshops and training.

The MoU documents were exchanged by Malakoff’s Senior Vice President of the Local Generation Division, Encik Mohd Kopli Yunus and KOEN’s General Manager, Mr. Jung Chungho and witnessed by Department of Occupational Safety and Health (“DOSH”) Selangor’s Director Yang Berusaha (“Ybrs.”) Ir. Ahmad Jailani Mansor, Malaysian Association of Engineers (“MAE”) President Ybrs. Datuk Ir. Ts. Feroz Hanif Mohamed Ahmad and Malakoff’s Managing Director & Group Chief Executive Officer (“MD & GCEO”) Encik Anwar Syahrin Abdul Ajib, at the HRSG and Power Conference 2024, held at Four Points by Sheraton in Puchong yesterday.

Through this MoU, both parties can leverage each other’s expertise. MPB offers extensive experience in the meticulous operation and maintenance of Malaysia’s power plants, currently managing Malakoff’s assets in Johor, Perak, and Penang. At the same time, KOEN excels in the development and operation of electric power resources, including power plants and related facilities. KOEN is an energy public corporation established during South Korea's power industry restructuring in April 2001, supplies about 10% of the country's electricity. Its facilities include coal, biomass, LNG-fired power plants, and renewable energy technologies.

Malakoff’s MD & GCEO Encik Anwar Syahrin Abdul Ajib emphasised that this collaboration will enable the Malakoff Group to adopt new technologies, enhancing operational efficiency and contributing to the Nation’s energy security.

“This collaboration will enable us to adopt best practices for managing and enhancing power plant assets, including adapting to the integration of Renewable Energy (“RE”) into the grid and planning for biomass fuel use. As we aim to incorporate 5% biomass into our 2,100 MW Tanjung Bin Power Plant (“TBPP”) in Johor by 2025, and ultimately achieve 15% by 2027, this expertise will be instrumental in achieving our goals. Additionally, it will support the greening of our power plants by promoting the reuse and recycling of coal ash and waste, such as applying patented technology related to bottom ash recycling, and facilitating the adoption of advanced clean technologies.

“I firmly believe that strategic collaboration like this will not only enable us to upgrade and enhance our plants’ performance, but also reinforce our commitment to providing uninterrupted energy to the Nation. This partnership aligns with our ongoing efforts to elevate our operational standards and drive continuous improvement”, added Encik Anwar.

Malakoff is Malaysia’s largest Independent Power Producer (“IPP”), renowned for its extensive experience and expertise in delivering reliable energy generation to the Nation. Its TBPP and Tanjung Bin Energy Power Plant (“TBE”) in Johor are among the first private thermal plants and rank as some of the largest IPPs in Southeast Asia. Additionally, Malakoff’s combined-cycle gas turbine (“CCGT”) plant, SEV Power Plant in Perak, is the second-largest IPP-owned CCGT plant in Malaysia. Through its business pillar, Malakoff Energy, the company remains a key player in the thermal power generation sector. This collaboration further reinforces the Group’s commitment towards ‘Enhancing Life, Enriching Communities’.