KUCHING: Local analytics companies have been urged to assist the Sarawak government in its hydrogen production initiative to support the state’s green energy transformation for the public transport sector.
Sarawak Premier Tan Sri Abang Johari Tun Openg said that with the expertise provided by such companies, the state’s development can move towards a more sustainable future with a market- and technology-driven economy.
He highlighted that local companies such as Insights Analytics Bhd possess expertise in water-related businesses and are in a strategic position to explore the production of hydrogen, the energy of the future that is clean and sustainable.
“I am confident you can explore opportunities in the production of hydrogen for our public transport system,“ he said at the launch of IAB’s initial public offering prospectus here today.
Abang Johari emphasised the importance of using technology to optimise market potential as well as to adapt to the changes in technology.
Kuching-based IAB, which provides water technology solutions and intelligent asset management solutions, is making a public issue of 121 million new shares and an offer for sale of 27.5 million existing shares at 36 sen in conjunction with its listing on Bursa Malaysia’s ACE Market.
The company is expected to raise gross proceeds of 43.56 million ringgit through the initial public offering.
IAB managing director Frank Wee said that of the amount, 22.2 million ringgit or 50.9% will be used for general working capital for ongoing and future projects, especially in the smart water management sector and smart city development initiative in Sarawak. – Bernama
