XTC New Energy Materials (Xiamen) Co Ltd chief financial officer Zhang Ruicheng (left) presenting a letter of intent to Invest Selangor CEO Datuk Hasan Azhari Idris. The presentation is witnessed by (from left) UOB Malaysia CEO Datuk Ng Wei Wei; Selangor state executive councillor for investment, trade and mobility Ng Sze Han; Selangor Menteri Besar Datuk Seri Amirudin Shari; Raja Muda Selangor Tengku Amir Shah Sultan Sharafuddin Idris Shah; Selangor State Legislative Assembly speaker Lau Weng San; and Selangor state secretary Datuk Dr Ahmad Fadzli Ahmad Tajuddin.
KUALA LUMPUR (Oct 14): Selangor has attracted more than RM3 billion in potential investments from four foreign companies as the state seeks to strengthen its position as a regional investment and business hub.
The proposed investments were formalised through letters of intent (LOIs) presented by Shenghui Biotechnology (Malaysia) Sdn Bhd, Galaxy Data Centre, XTC New Energy and Wuxi Weifu Environmental Catalysts Co Ltd during the opening of the Selangor International Business Summit (SIBS) 2026 on Wednesday.
Facilitated by UOB Malaysia, the LOIs were handed over to Invest Selangor Bhd, the state government's investment promotion agency.
According to UOB Malaysia, Galaxy DC is an AI-focused hyperscale data centre infrastructure developer while Shenghui Biotechnology (Malaysia) plans to establish a large-scale corn deep-processing and specialty ingredients manufacturing facility in Selangor to produce starch-based products, sweeteners and other value-added applications. Wuxi Weifu Environmental Catalysts is a manufacturer of automotive and industrial emission-control catalysts supporting the growth of Malaysia's new energy vehicle ecosystem while XTC New Energy Materials (Xiamen) is an advanced battery materials manufacturer.
As the proposed investments have yet to be confirmed, specific investment breakdowns and project timelines were not disclosed.
Selangor Menteri Besar Datuk Seri Amirudin Shari welcomed UOB Malaysia's role as a trusted partner to enhance investment into the state.
"Our challenge today is not the lack of capital but how capital is channelled. Businesses need access to financing to make the next great leap, maximise existing supply chains while building new, more resilient chains of supply. This latest move overcomes that challenge and fits like a glove with the Second Selangor Plan, which aspires to elevate the capacity of local businesses [and] create high-value jobs for our young people, as this is the most sustainable strategy to improve the quality of lives for our people," he said.
UOB Malaysia CEO Datuk Ng Wei Wei said the investments announced were a direct outcome of the bank's strategic collaboration with Invest Selangor.
"These efforts reflect UOB’s commitment to connecting global investors with opportunities across ASEAN, supporting their entry into new markets and fostering long-term partnerships. Beyond the headline value, these investments are expected to generate broader economic benefits through technology transfer, talent development and supply chain opportunities for local businesses, particularly small-and medium-sized enterprises," she said.
The 10th edition of the annual summit, running from Oct 14 to Oct 17 at the Kala Lumpur Convention Centre here, aims to generate RM8 billion in potential transaction value and draw 50,000 visitors.
Serving as a gateway to trade and investment opportunities across Selangor and Asean, the four-day event hosts 526 exhibition booths with participation from countries including Singapore, Indonesia, Japan, China, Germany, the US and Vietnam.
It also brings together 110 hosted delegates and 188 speakers across nine conference programmes covering investment, industrial development, technology, healthcare and talent.
According to Invest Selangor, the agency has facilitated over 7,069 manufacturing projects since 1999, locking in upwards of RM256.6 billion in investments and contributing to the creation of 508,316 jobs.