English

  • Iran War diverts Middle East DC investments to Southeast Asia: TA Research says the US-Iran conflict raises geopolitical stability concerns in the Middle East, triggering potential diversification of the regions massive data centre (DC) investment pipeline into more stable regions like Southeast Asia
  • Middle East DC market at risk: The Middle East DC market has 2.2 GW currently under construction and another 12 GW of planned capacity now facing uncertainty due to conflict-related attacks on infrastructure
  • Johor positioned as key beneficiary: Johor currently has 897 MW DC capacity in operation, 315 MW under construction, and 2.1 GW planned, making it the third-largest DC hub in Asia-Pacific and the largest in terms of pipeline investments
  • Iranian drone strikes disrupted Middle East DC operations: Attacks hit Amazon facilities in UAE and Bahrain in March, and an Oracle-linked facility in Dubai in April, disrupting digital services including financial transactions and social media
  • Malaysia is a natural alternative: The country stands out due to cost competitiveness and political stability, having already attracted DC investments from global hyperscalers seeking alternatives to land- and power-constrained Singapore
  • RE sector also benefits from Iran War: Rising grid power costs from higher fuel prices (coal and natural gas) improve the economics of renewable energy, driving stronger demand for solar as a cheaper alternative for consumers
  • Government solar rebates boost adoption: Malaysia recently launched the Sustainable Rebate and Incentive Assistance Home initiative, providing rebates for domestic users who install solar systems for their homes
  • Samaiden Group flagged as key beneficiary: TA Research picks Samaiden Group Bhd as a potential winner from an expected record-high RE rollout over the next two to four years
  • YTL Power International also positioned: TA Research identifies YTL Power as a beneficiary of the diversion of Middle East DC investments into Southeast Asia
  • TA Research maintains overweight on utilities: The research house maintains its overweight call on Malaysias utilities sector amid the geopolitical shift

中文

  • 伊朗战争促使中东数据中心投资转向东南亚：TA Research表示，美伊冲突引发中东地缘政治稳定担忧，可能促使该地区庞大的数据中心（DC）投资管道向东南亚等更稳定地区转移
  • 中东数据中心市场面临风险：中东DC市场目前有2.2吉瓦在建，另有12吉瓦规划中的产能因冲突相关基础设施攻击而面临不确定性
  • 柔佛州成为关键受益者：柔佛目前有897兆瓦DC运营容量、315兆瓦在建、2.1吉瓦规划中，是亚太地区第三大数据中心枢纽，管道投资额位居第一
  • 伊朗无人机袭击扰乱中东DC运营：3月袭击了亚马逊在阿联酋和巴林的设施，4月攻击了迪拜与甲骨文关联的设施，扰乱了金融交易和社交媒体等数字服务
  • 马来西亚是天然替代选择：凭借成本竞争力和政治稳定性，马来西亚已吸引全球超大规模数据中心运营商从土地和电力受限的新加坡转移投资
  • 可再生能源行业也从伊朗战争中受益：燃料价格推高电网供电成本，改善了可再生能源的经济性，推动消费者对太阳能作为更廉价替代方案的需求增长
  • 政府太阳能补贴促进采用：马来西亚最近推出可持续回扣和激励援助家庭计划，为安装家用太阳能系统的国内用户提供回扣
  • Samaiden集团被列为重点受益者：TA Research将Samaiden集团选为未来两到四年内预期创纪录可再生能源推广的潜在赢家
  • YTL Power也处于有利位置：TA Research认为YTL Power将受益于中东DC投资向东南亚的转移
  • TA Research维持公用事业增持评级：该研究机构在地缘政治转变背景下维持对马来西亚公用事业板块的增持评级