UOB Malaysia and Invest Selangor facilitate investments exceeding RM3 billion to support Selangor's economic transformation

^{Mr Zhang RuiCheng, CFO of XTC New Energy Materials (Xiamen) Co Ltd presenting letter of intent Dato’ Hasan Azhari bin Hj. Idris, CEO of Invest Selangor.
The presentation is witnessed by (from left to right) Datuk Ng Wei Wei, CEO of UOB Malaysia; YB Tuan Ng Sze Han, Selangor State Executive Councillor for Investment, Trade and Mobility; YAB Dato' Seri Amirudin bin Shari, Dato' Menteri Besar Selangor (Chief Minister of Selangor); His Highness Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj, Raja Muda Selangor; YB Tuan Lau Weng San, Speaker of the Selangor State Legislative Assembly; and YB Dato' Dr. Ahmad Fadzli bin Ahmad Tajuddin, Selangor State Secretary.} 



Four LOIs presented at SIBS 2026 reflect growing investor confidence in Selangor and support the state's ambitions under Rancangan Selangor Kedua
 

KUALA LUMPUR, Oct 15 (Bernama) -- UOB Malaysia and Invest Selangor Berhad has announced that they have facilitated investments exceeding RM3 billion into Selangor, supporting the state's aspirations under Rancangan Selangor Kedua (RS-2) to strengthen industrial competitiveness, attract quality investments and drive sustainable economic growth 14 October 2026.
 
YAB Dato' Seri Amirudin Bin Shari, Menteri Besar Selangor, said, "I welcome UOB Malaysia's role as a trusted partner to enhance investment into Selangor. 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, create high value jobs for our young people as this is the most sustainable strategy to improve the quality of lives for our people."
 
As part of the investment pipeline facilitated through the collaboration, four companies presented Letters of Intent (LOIs) during the opening ceremony of Selangor International Business Summit (SIBS) 2026. The proposed investments span digital infrastructure, life sciences, advanced manufacturing and new energy, reflecting continued investor confidence in Selangor's growth prospects and business ecosystem.
 
Datuk Ng Wei Wei, Chief Executive Officer of UOB Malaysia, said, "The investments announced today, including the four LOIs presented, are a direct outcome of our 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 (SMEs)."
 
The companies presenting LOIs include Galaxy DC Pte Ltd, an AI-focused hyperscale data centre infrastructure developer; Shenghui Biotechnology (Malaysia) Sdn Bhd, which plans to establish a large-scale corn deep-processing and specialty ingredients manufacturing facility in Selangor, producing starch-based products, sweeteners and other value-added applications; Wuxi Weifu Environmental Catalysts Co Ltd, a manufacturer of automotive and industrial emission-control catalysts supporting the growth of Malaysia's new energy vehicle ecosystem; and XTC New Energy Materials (Xiamen) Co Ltd, an advanced battery materials manufacturer supporting the electric vehicle and energy storage value chain. Collectively, these investments will strengthen Selangor's position as a hub for future-ready industries and support the state's continued economic transformation.
 
Dato' Hasan Azhari, Chief Executive Officer of Invest Selangor Berhad, said, "These investments reflect the strength of Selangor's industrial ecosystem, connectivity, talent base and pro-business environment. Through our collaboration with UOB Malaysia, we are able to engage a wider pool of international investors and facilitate investments that align with Selangor's strategic development priorities. Beyond the immediate investment value, these projects will help deepen local industrial capabilities and strengthen the state's position as a hub for high-value industries."
 
The four LOIs are a direct outcome of a strategic public-private collaboration between UOB Malaysia and Invest Selangor, signed in November 2025 to attract global investments into Selangor, facilitate market entry for multinational companies and support the development of future-ready industries in the state. 

SOURCE: United Oversea Bank (Malaysia) Bhd / UOB Malaysia

FOR MORE INFORMATION, PLEASE CONTACT:
UOB Malaysia
Name: Putri Faralisa
Brand, Media and Communications
Email: putrifaralisasofeaadril.bintiabduljalil@uob.com.my
Tel: 6016-664 2346

Name: Nizam Arop
Brand, Media and Communications
Email: nizam.arop@uob.com.my  
Tel: 603- 2638 6304/ 6017-333 6329 

--BERNAMA