News about data centre

Technology stocks on Bursa Malaysia have plummeted since Friday amid concerns over disappointing earnings of their global counterparts and design troubles of chips powering artificial intelligence.

Paragon Globe said its wholly-owned Paragon Business Hub Sdn Bhd (PBHSB) has inked a conditional sale and purchase agreement with Bridge Data Centres Malaysia, which is primarily involved in the provision of infrastructure for hosting, data processing services and related activities.

The acquisition will be instrumental in meeting the rising demand for data centre services in Malaysia and the broader Southeast Asia region, Equinix said in a statement.

For 1Q2024, approved digital investments totalled RM17.

He attributed this growth to the country's strategic location, favourable government policies, proximity to Singapore, as well as attractively priced land, power, and water.

Nevertheless, Lim said the local steel industry is still challenging as it is grappling with overcapacity issues, which led to low capacity utilisation at an average of 39.

The project — known as Block 2 of the Iskandar Puteri Data Centre — was secured from TM Technology Services Sdn Bhd via its wholly owned IJM Construction Sdn Bhd, IJM said in a statement on Wednesday.

“We prefer players involved in the value chain of data centre construction over operators, as they also benefit from a surge in investment by hyperscalers.

“Overall collection has also improved significantly over the past few months.

The announcement confirms The Edge’s report last week which stated that Singtel, through its indirect  subsidiary Nxera My Pte Ltd, had been in discussions with Malaysian authorities to establish a data centre in Iskandar Puteri.