Hàng chục tỷ USD từ các ông lớn công nghệ đổ vào Malaysia, nhưng liệu có thực sự hiện thực hóa?

- Malaysia đang thu hút hàng loạt khoản đầu tư khổng lồ từ các gã khổng lồ công nghệ như Alphabet (2 tỷ USD), Microsoft (2,2 tỷ USD), Nvidia (4,3 tỷ USD), Amazon (6 tỷ USD), Infineon (5,4 tỷ USD), Vantage Data Centers (3 tỷ USD), Geely (10 tỷ USD), ByteDance (2,1 tỷ USD)... chủ yếu tập trung vào xây dựng các trung tâm dữ liệu và cơ sở hạ tầng AI.
- Nhiều thương vụ M&A cũng diễn ra như GDS Holdings bán mảng kinh doanh trung tâm dữ liệu ngoài Trung Quốc cho Hillhouse Investment và Boyu Capital với giá 587 triệu USD. DigitalBridge Group mua cổ phần chi phối tại AIMS Group của Time dotCom.  
- Bang Johor đang trở thành tâm điểm thu hút đầu tư nhờ vị trí gần Singapore, quỹ đất rộng và nguồn năng lượng dồi dào. Các dự án nổi bật như Kulai Green DC Park của YTL thu hút Sea Group, Nvidia; Singtel hợp tác với Telekom xây dựng trung tâm dữ liệu tại Johor.
- Công ty bất động sản Eco World Development Group mua 1,63 triệu m2 đất công nghiệp ở Johor với giá 27,56 USD/m2 vào tháng 9/2023. Sau đó, họ bán lại 0,5 triệu m2 cho Microsoft với giá 172,64 USD/m2, thu về 86,1 triệu USD.
- Tuy nhiên, các trung tâm dữ liệu có thể không tạo ra nhiều hiệu ứng lan tỏa về công nghệ do không đòi hỏi lực lượng lao động có tay nghề cao. Nhiều khoản đầu tư mới chỉ là mở rộng quy mô từ các dự án đã triển khai trước đó như ByteDance.
- Các cam kết đầu tư tỷ USD cũng chỉ tồn tại trên giấy tờ, chưa chắc đã được hiện thực hóa. Năm 2023, Malaysia ghi nhận 70,6 tỷ USD vốn FDI đăng ký nhưng chỉ giải ngân được 8,65 tỷ USD. Nguyên nhân do kinh tế toàn cầu trì trệ, thủ tục hành chính rườm rà, tham nhũng...
- Malaysia vẫn quyết tâm phát triển ngành công nghiệp bán dẫn, hướng tới mục tiêu 106 tỷ USD đầu tư. Bang Selangor và Penang đang xây dựng các khu thiết kế IC để nâng cấp chuỗi giá trị, hợp tác với đối tác Đài Loan là Phison Electronics.  
- Một số startup công nghệ sâu như Qarbotech (nông nghệ), ALPS Global (công nghệ sinh học) cũng nhận được sự quan tâm của các quỹ đầu tư lớn như Khazanah Nasional và Temasek. Mesolitica đang phát triển mô hình ngôn ngữ lớn đa ngôn ngữ cho tiếng Malaysia, được Bộ Kỹ thuật số hỗ trợ.

📌 Mặc dù Malaysia đang thu hút làn sóng đầu tư công nghệ khổng lồ lên tới hàng chục tỷ USD từ các ông lớn như Alphabet, Microsoft, Nvidia, Amazon, Infineon, Vantage Data Centers, Geely, ByteDance... nhưng phần lớn mới chỉ là cam kết trên giấy tờ. Năm 2023, chỉ 8,65 tỷ USD trong tổng số 70,6 tỷ USD vốn FDI đăng ký đã được giải ngân. Tuy nhiên, Malaysia vẫn đang nỗ lực phát triển ngành bán dẫn với mục tiêu 106 tỷ USD đầu tư và hỗ trợ các startup công nghệ trong nước như Qarbotech, ALPS Global, Mesolitica. Giá đất công nghiệp tại Johor cũng tăng mạnh, từ 27,56 USD/m2 lên 172,64 USD/m2 chỉ trong vài tháng.

https://www.techinasia.com/big-tech-investments-meaning-malaysia

Big Tech’s billions: What it really means for Malaysia

​Dan Lain-Lain (Malay for “and others”) is a weekly column by TIA journalist Emmanuel Samarathisa that dissects the goings-on in the Malaysia tech scene, but with a heavy mix of current affairs, policy and politics. Click here to read past articles.

Southeast Asia is buzzing with tech investment activity, and Malaysia is stealing the spotlight.

Tech in Asia’s data shows that Malaysia is in the pole position, gobbling up most of the billions promised over the past few months.

Take that, Singapore, Vietnam, and Indonesia! I kid, of course. As always, I’ll lay out the good, the uncertain, and the bad.

Malaysia: data center and tech deal hub?

Given all the news about investments flowing into the country, Malaysia is already an M&A and investment target for both tech and non-tech investments. I’ll focus on the former.

First, let’s break down some of Big Tech’s recent pledges to Malaysia:

Alphabet Inc.: US$2 billion to develop the country’s first data center and cloud facility.

Microsoft Corporation: US$2.2 billion to develop AI and cloud infrastructure, including building a data center and upskilling Malaysians in AI.

Nvidia Corporation: US$4.3 billion to develop AI infrastructure together with Malaysian conglomerate YTL.

Amazon Web Services: US$6 billion for cloud computing infrastructure.

Infineon: US$5.4 billion to expand its power chip plant in the Kulim Hi-Tech Park.

Vantage Data Centers: US$3 billion to build a second data center in Cyberjaya.

Geely: US$10 billion for a so-called automotive high-tech valley in Tanjung Malim, a town outside Kuala Lumpur.

ByteDance: US$2.1 billion for an AI hub in Malaysia.

Most of the deals are centered around data centers. In addition to the companies on the list, GDS Holdings sold its stake in data-center businesses outside China, including those in Malaysia, to alternative asset managers Hillhouse Investment and Boyu Capital for US$587 million.

Last year, DigitalBridge Group Inc. also bought a controlling stake in AIMS Group from Bursa Malaysia-listed broadband provider Time dotCom.

The state of Johor is grabbing most of the headlines due to its close proximity to Singapore, as well as ample land and energy resources, which are key components needed for data centers.

For example, Johor’s Kulai Green DC Park – built by Malaysia-powerhouse YTL – counts Singapore-based tech giant Sea Group as its maiden tenant.

Nvidia’s deal is, too, a partnership with YTL where the US chipmaker is also expected to build “AI infrastructure” – a code word for data center – at the Kulai Green DC Park.

Finally, kiasu Singapore wants in on the action as well. Singtel will be partnering with Malaysian state-owned telco Telekom to build a data center in Johor, albeit at a separate location.

What this means is that Johor will most likely be the focus of government policy when it comes to luring big tech companies to set up their data centers in the country. That will be Johor’s specialty, just like Penang when it comes to semiconductors.

The beneficiaries

Of course, a lot of businesses stand to benefit from these deals, and not all of them are in the tech section.

First up, landlords, since they’re a main catalyst in creating these data centers.

Example: Bursa-listed property firm Eco World Development Group acquired 403.78 acres of industrial land in Johor for 12 ringgit (US$2.56) per square foot on September 6, 2023. The purchase was completed in January this year.

A few months later, the property firm received an offer to sell a portion of the land or 123.14 acres to Microsoft for 402.3 million ringgit (US$86.1 million), or 75 ringgit (US$16.05) per square foot.

The economic benefit

Now here’s where things get questionable, at least when it comes to the economic benefit. Data centers may not have much tech spillover, meaning a slew of data centers that create a flourishing tech ecosystem may be a pipe dream, as these facilities do not require a heavily skilled workforce.

Some of the companies investing in Malaysia, such as Infineon and Geely, have been operating in the country for years, so these fresh investment commitments are more geared toward expanding capacity.

The same applies to ByteDance’s announcement of its US$2.1 billion investment. The Chinese tech firm already has a data center in Johor, and its latest investment is an extension of that.

Basically, we’re talking brownfield investments.

Promises, promises

One thing you need to remember about investments is that they exist only on paper. Until an investment is realized, those numbers are nothing more than headlines.

Here’s a good example. In 2023, Malaysia recorded 329.5 billion ringgit (US$70.6 billion) in approved foreign direct investments. But it only realized 40.4 billion ringgit (US$8.65 billion) that year.

Why? The reasons range from the sluggish global economy, the red tape inherent to doing business in Malaysia, to other systemic problems, such as corruption.

And while Big Tech firms can commit billions, they are not required to hold their end of the bargain.

Let’s take Microsoft as an example.

In 2014, there were talks of building a data campus in Sedenak, Johor.

In 2018, sources said construction would happen that year.

In 2020, it was reported to have been 40% complete.

In 2021, Microsoft made a commitment of US$1 billion to build an AI data center and upskill a million Malaysians by 2023.

Then on May 2, 2024, Microsoft again committed US$2.2 billion for an AI data center as well as for upskilling 200,000 Malaysians within four years. What part of that investment has been realized is not clear.

Commitment

Overall, Malaysia’s commitment toward building its semiconductor industry remains firm, with the country eyeing US$106 billion in investments. So far, its expertise has been in the so-called back end of the semiconductor value chain: packaging and testing.

To move Malaysia up the value chain, which would involve shifting from packaging and testing to integrated circuit (IC) design, Malaysia’s wealthiest state Selangor has launched a dedicated IC design park. The Selangor IC Design Park is being run in collaboration with Taiwanese semiconductor giant Phison Electronics, which specializes in the design and production of flash memory chips.

Funding will come from three channels: state, federal and private. Penang, the country’s semiconductor hub, is also jumping in on the design park.

Not all AI and data centers

Investors in Malaysia are also showing interest in deeptech startups.

Qarbotech, which specializes in photosynthesis enhancement technology, landed US$700,000 in seed funding last year. Malaysian sovereign wealth fund Khazanah Nasional is a backer as is Singapore’s Temasek.

Integrated biotech firm ALPS Global will be listing on the Nasdaq and has been dubbed Malaysia’s second unicorn after used-car marketplace Carsome.

Indian biotech giant Biocon, which has been operating in Malaysia since 2011, is also committed to increasing its investments. The company is expanding its insulin manufacturing facility, which is scheduled to start operating by 2026.

And, of course, there’s the AI rush.

Mesolitica is a startup building a Malaysian-language based LLM. The company’s sales pitch is that its multilingual model can process a variety of language processing tasks such as answering questions and engaging in conversations in local languages and dialects, from Malay to Tamil and Mandarin.

It received government recognition a few weeks ago with the Digital Ministry exploring ways to collaborate.

Currency converted from Malaysian ringgit to US dollar: US$1 = 4.67 ringgit.