Speedmatrix’s land lease has lapsed, says Port Klang Free Zone chairman

Saturday 14 Nov 2026

Make The Edge Malaysia your preferred source on Google

KUALA LUMPUR (Nov 14): Port Klang Free Zone Sdn Bhd (PKFZ) prohibited the export of computer chips without prior approval from the relevant authorities as a condition in a proposed land lease to Speedmatrix Sdn Bhd, which has now formally lapsed.

PKFZ chairman Lim Lip Eng said the condition was stipulated in the letter of offer to Speedmatrix following the company’s proposal to lease a parcel of land within the free zone in July 2026.

“Speedmatrix did not execute the letter of offer within the stipulated validity period, and the offer expired in early November 2026,” he said in a statement on Saturday.

He said following the expiry, PKFZ formally notified Speedmatrix on Friday that the letter of offer had lapsed and that the proposed lease would consequently not proceed.

Lim said following recent reports concerning Speedmatrix, PKFZ wishes to reaffirm its commitment to combating illegal activities and safeguarding national interest.

He said PKFZ remains resolute in preventing the free zone from being used for unlawful activities.

“Through due diligence, risk assessments, company background checks and stringent terms and conditions, PKFZ is committed to addressing risks before businesses commence operations within the zone,” he added.

Speedmatrix, a Malaysian affiliate of Singapore-based cloud computing firm Megaspeed International Pte Ltd, operates as a data centre tenant in Malaysia, importing servers and artificial intelligence (AI) chips for its operations.

The company has recently come under intense regulatory scrutiny amid international allegations involving the potential diversion and re-export of restricted high-performance US AI chips.

Uploaded by Tham Yek Lee

Text Size