KUALA LUMPUR - Maybank Investment Bank Bhd views Invest Malaysia 2023’s special series on the National Energy Transition Roadmap (NETR) as a launching pad that will take Malaysia’s sustainability agenda to a new level.
In a note today, it said the NETR provides a clear narrative and practical pathway towards driving the country’s next phase of economic growth and long-term sustainability, especially Malaysia’s commitment to achieve carbon neutrality by 2050.
"The transformative thinking underpinning the NETR underscores and reinforces the laudable ambitions of the recently articulated Madani Economy framework which emphasises leveraging Malaysia’s many inherent strengths to be a leading Asian economy, by becoming a competitive and world-class investment destination,” it said.
Maybank Investment Bank noted the NETR Part 1 contains 10 flagship-cum-catalytic initiatives that have a total investment value of between RM435 billion and RM1.85 trillion by 2050 and with the capacity to generate 23,000 high-impact jobs.
For example, a cornerstone project is the 1 gigawatt (GW) large-scale integrated renewable energy zone, powered by solar, by a UEM-INTRAMAS joint venture. It will be the largest in Asean and has attracted RM6 billion in foreign investments to date, it said.
Additionally, the NETR has also initiated a hydrogen gateway in Sarawak and put in place a framework for carbon capture, utilisation and storage, laying down the foundations for the development of new, high value-add gross domestic product (GDP) growth drivers.
"Particularly noteworthy is the NETR’s explicit inclusion of households via offering an income opportunity from leasing out their rooftops for solar power generation,” it added.
Meanwhile, Maybank Investment Bank said the innovation and pragmatism demonstrated by the NETR dovetail with the ambitions of the Madani Economy.
"As articulated in our macro update report ‘Madani Economy - Providing the Narrative’, pending policy updates such as NETR Part 2, the National Industrial Master Plan (NIMP) 2030, the 12th Malaysia Plan mid-term review and Budget 2024 are expected to build on the positive tone set by the NETR.
"As detailed in our second half of 2023 (2H 2023) Market Outlook report, we are optimistic about the improved market traction over 2H2023 despite still-mixed earnings guidance,” it said. - BERNAMA