The 10 Malaysian Firms Pledging Investment in New Capital City

    TEMPO.CO, Jakarta – Ten Malaysian companies have pledged to invest in Indonesia’s new capital city of Nusantara’s project. Based on current calculations, the construction of Indonesia’s new capital in East Kalimantan will require at least Rp544 trillion.

    The group of private companies signed the investment agreement on Monday, January 9, 2023, witnessed by Malaysian Prime Minister Anwar Ibrahim who was visiting Indonesia in an official bilateral meeting on January 8 and January 9, 2023. 

    According to Malaysia’s national news agency Bernama, the companies and their role in the new Capital’s development are as follows:

    Success Electronics and Transformer Manufacturer Sdn Bhd: A power transformer manufacturer and LED light manufacturer.

    Carsome: Digitalizing automotive trade at Nusantara. 

    Olympic Cable Company (OSK Group): Expanding various cable products from control cables, instrumentation cables, multicore cables, and telecommunication cables. 

    Boustead Properties Bhd: Property development and knowledge sharing in developing and maintaining sustainable smart cities.

    Berjaya Corporation Bhd: Offers expertise in solid waste management, drinking water supply, property and housing development, and smart city technology.

    Pharmaniaga Bhd: Affordable and quality healthcare products and services.

    Alliance MEP (Sarawak) Sdn Bhd: Professional services provider.

    Protasco Bhd: To develop infrastructure and government housing through HCM Engineering and to develop renewable energy and charging stations through i2 Energy.

    Reneuco Bhd: Providing sustainable energy and utility services.

    Tenaga Nasional Bhd: Exploring and participating in the development and operation of energy solutions.

    Meanwhile, the Indonesian government is preparing to develop the Central Government Core Area (KIPP) and focus on office areas. Public Works and Public Housing (PUPR) Minister Basuki Hadimuljono estimated that national and international investors will start to enter the new Capital City of Nusantara during the second quarter of 2023.


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