Kuala Lumpur, Malaysia,, March 19, 2025 / Prnewswire / – Teco Electric & Machinery Co. held an acquisition signature ceremony today (19th) Kuala Lumpur, MalaysiaWith the local engineering company NCL Energy SDN BHD (hereinafter referred to as NCL). Teco will acquire 80% participation in NCL, becoming its largest shareholder and developing in conjunction in Malaysia MEP engineering market for data centers and renewable energies.
President of Teco Morris Li said that Malaysia introduced a series of electricity and renewable energy infrastructure policies. With its low electricity costs, its large land availability and its near strategic location Singapore,, Malaysia attracted significant investments in the construction of the data center, making it the country with the greatest number of new data centers in Southeast Asia. This acquisition is aligned with Teco’s strategy to focus on the Southeast Asian market and demonstrates its long-term commitment to the Malaysian market.
On March 14, the Teco board of directors approved the acquisition and investment of NCL Energy SDN BHD and its renewable energy subsidiary, NCL Green Energy SDN BHD, for a total price not exceeding Myr 70 million. The transaction should be completed at T2 2025. Taiwan And Singapore. President Li stressed that NCL was a long -term strategic partner of Malaysia Electricity Company, Tenaga Naséal Berhad (TNB). With the experienced NCL team and past achievements, Teco will be able to quickly obtain the necessary MEP engineering licenses and the workforce for the Malaysian market. In addition, this acquisition will allow Teco to connect in a transparent way with the main entrepreneurs of the Malaysian EPC such as Gamuda and Sunway, allowing it to provide complete MEP engineering services for international Cloud Computing customers in Malaysia.
Founder of NCL Dato ‘ From Keng Hiong expressed his honor to join the Teco group. NCL was engaged in deputy engineering and solar engineering Malaysia For almost 20 years. Recently, he managed to collaborate with Teco on two Data Center hyperscal projects, establishing a solid working relationship. This investment means the recognition by TECO of the NCL management team. With greater capital and resources, NCL aims to extend its team and compete for data center projects, solar energy and a large scale deputy.
Malaysia Attracted strategic investments of global technology giants such as Google, Microsoft, Amazon Web Services and Oracle. Over the next five years, the country should receive more than $ 20 billion in foreign investment for the construction of the data center, solidifying its position of Southeast Asia Data Center Hub. President Li stressed that the entry Malaysia The MEP engineering market in the data center is only the first step. Teco plans to develop in the solar power plant, the battery energy storage system (BESS), the EV load and MEP equipment sales to seize market opportunities. This is aligned with Teco’s strategy of increasing revenues abroad to more than 50% in the next two to three years by targeting Southeast Asia Potential high growth markets. Thanks to this initiative, Teco aims to achieve his vision in the realization of electrification, intelligence and green energy.
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Source Teco Electric & Machinery Co.
