KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd (UOB Malaysia) and Invest Selangor Bhd have facilitated investments exceeding RM3bil into Selangor, covering digital infrastructure, life sciences, advanced manufacturing and new energy.
In a statement, UOB Malaysia said four companies presented letters of intent (LOIs) for proposed investments during the opening ceremony of the Selangor International Business Summit (SIBS) 2026.
The companies are Galaxy DC Pte Ltd, Shenghui Biotechnology (Malaysia) Sdn Bhd, Wuxi Weifu Environmental Catalysts Co Ltd and XTC New Energy Materials (Xiamen) Co Ltd.
Galaxy DC is involved in artificial intelligence-focused hyperscale data centre infrastructure, while Shenghui Biotechnology plans to establish a corn processing and specialty ingredients manufacturing facility in Selangor.
Wuxi Weifu manufactures automotive and industrial emission-control catalysts, while XTC New Energy Materials produces advanced battery materials for electric vehicles and energy storage applications.
The proposed investments follow a strategic collaboration agreement signed between UOB Malaysia and Invest Selangor in November 2025 to attract foreign investments and facilitate market entry for multinational companies.
UOB Malaysia chief executive officer Datuk Ng Wei Wei said the investments, including the four LOIs, were a direct outcome of the collaboration.
“These efforts reflect UOB’s commitment to connecting global investors with opportunities across Asean, supporting their entry into new markets and fostering long-term partnerships.
“Beyond the headline value, these investments are expected to generate broader economic benefits through technology transfer, talent development and supply chain opportunities for local businesses, particularly small-and medium-sized enterprises (SMEs),” she said.
Selangor Mentri Besar Datuk Seri Amirudin Shari said access to financing was important to help businesses expand and strengthen supply chains.
“This latest move overcomes that challenge and fits like a glove with the Second Selangor Plan, which aspires to elevate the capacity of local businesses, create high-value jobs for our young people, as this is the most sustainable strategy to improve the quality of lives for our people,” he said.
Meanwhile, Invest Selangor chief executive officer Datuk Hasan Azhari said the collaboration enabled the state to engage a wider pool of international investors and facilitate investments aligned with its development priorities.
“Beyond the immediate investment value, these projects will help deepen local industrial capabilities and strengthen the state’s position as a hub for high-value industries.”
