World Bank to provide RM503 million loan to OCI TerraSus Sdn Bhd for development of Southeast Asia's first polysilicon facility in Bintulu

KUALA LUMPUR, April 1 2026:: The World Bank Group, through its private sector arm the International Finance Corporation (IFC), will provide a US$125 million (about RM502.7 million) loan to OCI TerraSus Sdn Bhd for the development of a clean energy-powered semiconductor-grade polysilicon manufacturing facility in Bintulu, Sarawak.

According to the financial daily the Edge, the facility will be a first for Malaysia and the Southeast Asia region.

The plant to produce ultra-high purity polysilicon — a material used in the production of silicon wafers and semiconductor chips — will be undertaken via a joint venture with Japan’s Tokuyama Corporation called OCI Tokuyama Semiconductor Materials Sdn Bhd.

OCI Terra Sus, which was formerly known as OCI Malaysia, is a subsidiary of South Korean conglomerate OCI Holdings Company Ltd, which is in advanced materials, renewable energy, energy solutions, and urban development. Meanwhile, Tokyo-based Tokuyama Corporation manufactures chemicals and is one of the world’s largest producers of silicon

“We see this partnership’s benefits extend beyond support for a physical infrastructure,” OCI Holding and OCI Terrasus chairman Lee Woo Hyun said in the joint statement issued by OCI TerraSus and IFC.

“It is a key driver in strengthening our management systems, ESG (environmental, social, and governance) practices and long-term competitiveness as a global company.

“As demand grows for semiconductors and artificial intelligence, the importance of high-purity materials will continue to increase. This cooperation with IFC is a recognition of our ESG enhancements. It reinforces our confidence in Sarawak and Malaysia as strategic partners in the global semiconductor value chain,” he added.

According to previous reports out of Sarawak, the plant will be built on a 13.4 hectare site at Samalaju Industrial Park in Bintulu, next to OCI TerraSus’ existing solar-grade polysilicon plant. The plant will have an annual production capacity of 8,000 metric tonnes of semiconductor-grade polysilicon.

Full commercial operations are targeted to begin in January 2029.

The IFC said the plant is expected to be powered by renewable energy sources and is aimed at supporting Malaysia’s efforts to strengthen its position in the global semiconductor supply chain, while also creating skilled employment opportunities.

 

DNV Norway to help Sarawak accelerates clean energy development

KUCHING, April 1 2026: Sarawak's collaboration through the Ministry of Energy and Environmental Sustainability (MEESty) with DNV Norway will help further accelerate the implementation of the state's clean energy development. 

Its Deputy Minister Dr Hazland Abang Hipni (picture) said that Sarawak, which is entering the implementation phase in new energy development, needs the expertise of the body which acts as a global verification body in ensuring the standards and quality of Sarawak's green energy projects meet international standards.

He said this is very important since Sarawak not only supplies energy domestically but also expands the energy market to neighboring countries and states, including long-term plans involving countries in the Asia Pacific region.

“In terms of its geographical position in the Asia Pacific region, Sarawak is strategically located in the middle, compared to Australia which is further away and involves higher costs.

“Therefore, the state government is formulating a new plan to strengthen and further boost the development of the green energy industry in the region, covering major markets such as China, Japan, Korea and other countries and this is a great opportunity for Sarawak,” he said.

He said this in a press conference after holding a meeting with DNV’s Asia Pacific Energy Systems Regional Head for Hydrogen and CCUS, Dr Thomas Koller, at his office, here, on Wednesday.

Dr Hazland stressed that the world’s energy landscape is currently changing rapidly, especially following global geopolitical uncertainties including the conflict in the Middle East, which has prompted countries around the world to reduce their dependence on oil and gas.

In that context, Sarawak is strategically positioned to take advantage of the opportunity.

“With abundant natural resources such as hydro and solar energy, Sarawak is able to produce green energy at a lower cost than other countries, thus making the state the ‘battery of Asia’,” he explained.

In fact, he explained, Sarawak has begun initial preparations since four to five years ago including infrastructure development, legal framework and human resource training to support the green energy ecosystem. 

SEB announces Yusri Safri as new SESCO CEO, Lau Kim Swee as executive vice president for SEB's project delivery

KUCHING, April 1 2026: Sarawak Energy Berhad (SEB) announced the appointment of Yusri Safri (picture, down) succeeding Lau Kim Swee, as chief executive officer (CEO) of its retail and operations subsidiary, Syarikat SESCO Berhad (SESCO), effective 1 April 2026.

He will be reporting to the group chief executive officer Sharbini Suhaili.

Sharbin, in a statement,  said the appointment reflects SEB’s continued focus on developing leaders with strong operational experience and strategic perspective.

During his tenure in Contract & Procurement, Yusri has driven key initiatives in category management, procurement efficiency, vendor development and centralised operational planning.

“These efforts contributed to SEB being recognised by the Chartered Institute of Procurement and Supply (CIPS) as an excellent procurement organisation.

“Yusri brings a combination of deep technical expertise and strong leadership acumen. Witha strong foundation in engineering and regional operations, he has built a broad management portfolio across retail, distribution and corporate services,” he said.

Meanwhile, Lau was appointed as the executive vice president for project delivery for SEB and its subsidiaries, effective April 1, 2026.

He also continues to serve on the group executive committee, which reports to the Group CEO.

In his new capacity, Lau assumes one of SEB’s critical roles – overseeing the end‑to‑end delivery of the company’s major power infrastructure projects, many of which are fundamental to Sarawak’s growth trajectory, grid resilience and the government’s aspiration to achieve 10GW capacity by 2030.

Lau Kim Swee

“Lau’s professionalism, commitment to excellence, and transformative leadership at SESCO make him well-suited for this portfolio, which sits at the core of Sarawak’s long-term energy development goal,” said Sharbini.

He added building on Lau’s achievements at SESCO, the company is confident of his capacity to provide the strategic direction and steady leadership needed to deliver SEB’s capital projects safely, on schedule and in accordance with internationally recognised standards – reflecting the Company’s strong trust in his leadership, technical insight and proven ability to steer the Company’s transformation at scale.

Since assuming the role of CEO of SESCO in 2016, Lau has overseen the transformation of the utility – driving operational excellence, digitalisation and customer-focused service.

 Under hisleadership, power theft losses in the Company were significantly reduced, and supply reliability improved substantially. He spearheaded the introduction of automation, digitalisation and Smart Grid systems, advancing SESCO toward its Digital Utility vision.

At the same time, customer experience was enhanced through initiatives such as the SEB cares mobile application and Smart Retail services, improving customer satisfaction. Lau has also instilled a high-performance culture in SESCO, emphasising proactive service, operational agility and a strong customer focus.