This article first appeared in The Edge Malaysia Weekly on August 10, 2026 - August 16, 2026

ZECON Bhd (KL:ZECON) is looking for strategic investment partners for its Kota Petra Green Technology Park (KPGTP), which is slated to be built on a 3,000-acre parcel of land it owns just outside Kuching, that will eventually combine multiple components such as solar power generation, data centres, manufacturing and residential developments.

The Sarawak-based construction and engineering group has held the state approval for the project since September 2024, but has stepped up efforts to bring in partners since January this year, when it received the requisite approvals from Sarawak’s State Planning Authority.

Zecon has since appointed Knight Frank as its exclusive marketing agent for the park and has been in talks with prospective investors directly. The company says it remains open to collaborating with strategic partners or investors on the project.

KPGTP has been designated a Special Development Area under Section 13E of the Sarawak Land Code, which allows for 100% foreign ownership and comes with tax incentives arranged through the Ministry of Finance and Malaysian Investment Development Authority.

Zecon’s master plan for the site runs in four phases over 20 years, from 2025 to 2045, and comprises Phase 1 — solar farm, data centres and mixed-use development; Phase 2 — hi-tech manufacturing and an enterprise hub; Phase 3 — aerospace, logistics and an education hub; and Phase 4 — an urban city centre and green technology precinct.

The company says the phasing is not fixed and will depend on which investors and industries commit to the park. As at October 2025, there were two memoranda of understanding (MoUs) inked with Sarawak state agencies, namely Sarawak Digital Economy Corp Bhd (SDEC), which covers digital infrastructure and telecommunications, and the Centre for Technology Excellence Sarawak (CENTEXS), which handles industry training and research and development (R&D).

“KPGTP is Zecon’s strategic response to Sarawak’s bold economic transformation agenda. As a home-grown Sarawak company, we see it as our responsibility to complement the state government’s vision by developing an integrated green technology ecosystem that will attract quality investments, create high-value employment and strengthen Sarawak’s position as a regional centre for sustainable industries,” Zecon chairman Tan Sri Mohamad Morshidi Abdul Ghani tells The Edge in an email.

“We are encouraged by the state government’s commitment to building the necessary policy, infrastructure and investment ecosystem, while our strategic collaborations with SDEC and CENTEXS further reinforces KPGTP’s long-term value proposition. SDEC will help drive the park’s digital and telecommunications infrastructure, while CENTEXS will support talent development, technical training and R&D, ensuring investors have access to both world-class infrastructure and a future-ready workforce. Through these public-private collaborations, we believe KPGTP will become a catalyst for Sarawak’s next phase of sustainable industrial growth,” he adds.

Zecon group managing director and major shareholder Datuk Zainal Abidin Ahmad says the company has signed close to 30 MoUs and non-disclosure agreements (NDAs) with prospective domestic and international investors and strategic partners, spanning the green technology, digital infrastructure and industrial sectors.

“The confidence shown by investors is evident in the strong progress we have built. This level of engagement is a strong endorsement of KPGTP and validates our vision of developing a premier green industrial park that will attract quality, high-impact investments, drive innovation and contribute meaningfully to Sarawak’s long-term economic growth,” he adds.

Zecon is also constructing a RM328 million 100mw agrivoltaic solar plant at KPGTP spanning 300 acres — the first phase of the park’s planned solar infrastructure. Via its subsidiary Zecon Renewables (Sarawak) Sdn Bhd, it holds a 30-year power generation licence and a power purchase agreement with state-controlled Syarikat Sesco Bhd, and is targeting commercial operations by end-2027.

Beyond the initial 100mw plant, Zecon also holds a separate licence for up to 300mw of solar capacity, which it intends to sell to future industrial tenants at the park, backed by a battery storage system and the state grid. According to the company’s website, KPGTP is expected to generate about RM12 billion in investment value and create 10,000 jobs in its development period, plus a direct annual gross domestic product (GDP) contribution of at least RM1.7 billion.

KPGTP is about 7km from the Kuching city centre and 5km from Senari Port, in an area that also includes Demak Laut Industrial Park, Sama Jaya Free Industrial Zone and the Kuching International Airport.

Raine & Horne International Zaki + Partners Sdn Bhd Sabah branch director Mohamad Hasbie Chalo tells The Edge that Sarawak’s industrial property market has transformed over the past decade. 

“This evolution has translated into stronger investor interest in industrial land and development opportunities. While conventional sectors such as timber processing, oil and gas, petrochemicals and manufacturing continue to provide a solid foundation, newer demand is increasingly originating from businesses seeking reliable renewable energy, modern industrial infrastructure and long-term operational certainty.

“Ultimately, the success of developments such as KPGTP will depend less on the scale of the master plan than on their ability to attract anchor investors, build industry clusters and respond to evolving market demand. Nevertheless, the project illustrates how Sarawak’s industrial landscape is expanding beyond its traditional strengths towards sectors that are expected to drive the state’s next phase of economic growth,” he adds.

For the three months ended March 31, 2026, Zecon suffered a net loss of RM1.09 million on revenue of RM15.08 million. In the previous corresponding period, the company mustered a net profit of RM928,000 on revenue of RM15.09 million.

At end-March this year, Zecon had cash and balances of RM49.31 million and deposits with licensed banks of RM26.29 million. It also had retained earnings of RM153.04 million. On the other side of the balance sheet, the company had long-term debt commitments of RM735.32 million and short-term borrowings of RM106.09 million.

Zecon’s largest shareholder as at Aug 7 is Dawla Capital Sdn Bhd, with a 50.19% stake. Dawla Capital is controlled by Zainal Abidin, who has a direct stake of 18.15%. Other substantial shareholders include Rewi Hamid Bugo, with 13.12% equity interest.

At the closing price of 47 sen per share last Thursday, Zecon had a market capitalisation of RM75.1 million.

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