UOB, Invest Selangor unlock RM3bil investments

KUALA LUMPUR - UOB Malaysia and Invest Selangor Bhd have collaborated to facilitate investments exceeding RM3 billion into Selangor. These funds are earmarked for four proposed projects focusing on digital infrastructure, life sciences, advanced manufacturing, and new energy. These initiatives align with the Selangor Government's Rancangan Selangor Kedua (RS-2) strategy, aiming to enhance industrial competitiveness, attract high-quality investments, and foster sustainable economic growth.

Four companies submitted Letters of Intent (LOIs) during the opening ceremony of the Selangor International Business Summit (SIBS) 2026 on October 14. These companies are Galaxy DC Pte Ltd, a hyperscale data centre infrastructure developer specializing in AI; Shenghui Biotechnology (Malaysia) Sdn Bhd, planning a large-scale corn processing and specialty ingredients facility in Selangor; Wuxi Weifu Environmental Catalysts Co Ltd, manufacturing automotive and industrial emission-control catalysts; and XTC New Energy Materials (Xiamen) Co Ltd, specializing in advanced battery materials for electric vehicles and energy storage.

State Menteri Besar Datuk Seri Amirudin Shari highlighted that this partnership will channel capital towards businesses seeking to expand supply chains and strengthen operational resilience. He emphasized the importance of efficient capital allocation in creating high-value jobs and improving living standards.

UOB Malaysia CEO Datuk Ng Wei Wei noted that these investments underscore the bank's partnership with Invest Selangor to link global investors with opportunities across Southeast Asia. She added that the projects are anticipated to yield broader economic benefits through technology transfer, talent development, and supply chain opportunities for local businesses, especially SMEs.

Invest Selangor CEO Datuk Hasan Azhari affirmed that these investments reflect the state's robust industrial ecosystem, connectivity, talent pool, and business-friendly environment. He stated that the collaboration will attract more international investors, bolster local industrial capabilities, and reinforce Selangor's standing in high-value industries.

The collaboration between UOB Malaysia and Invest Selangor was formalized in November 2025 to attract global investments, facilitate multinational company entry, and foster future-ready industries in the state.