Malaysia's Worldwide Holdings Bhd Plans Investment Decision on Nuclear Power Project Within Five Years

Worldwide Holdings Bhd, a state-owned conglomerate of Selangor, Malaysia, is actively planning to play a role in Malaysia's future nuclear power development, closely aligning its strategic planning with Selangor's needs for stable electricity supply, enhanced local industrial capabilities, and expanded investment opportunities. The group's Chief Executive Officer Ahmad Zaki·Ahmad Zainuddin stated that the preparatory work covers nuclear power plant site assessment, technology selection, and financing scheme evaluation, while simultaneously building professional capabilities spanning the entire project lifecycle from planning and construction to operation.

Ahmad Zaki revealed at a panel discussion at the 2026 Selangor Investment and Industrial Park Expo (SPARK), held alongside the Selangor International Business Summit, that the group hopes to be ready to make a Final Investment Decision (FID) on a nuclear power plant project in Malaysia within five years. This target means the relevant preparatory work is expected to reach a key decision milestone around 2031, a milestone that marks substantive project development rather than formal commercial power generation.

At the "Nuclear Energy——Let's Talk About It!" forum moderated by Syed Saggaf Syed Ahmad, Regional Director of the Energy Industries Council (EIC), Ahmad Zaki drew on the group's transition experience in waste-to-energy to illustrate how major infrastructure construction can drive local supply chain participation. Currently, Worldwide Holdings Bhd owns the 1.2 GW Pulau Indah Power Plant, as well as small hydropower facilities in Batang Kali and Sungai Kerling, while advancing hydropower projects at Sungai Pangsun and Sungai Inki, and developing a 300 MW large-scale solar power project in Bestari Jaya. He stated that expanding from landfill management to power generation created substantial demand for engineering and automation skills, and that nuclear energy development can similarly effectively promote technology transfer and scientific research and development, enabling local enterprises serving the full plant lifecycle to benefit continuously.

Regarding Selangor's energy transition, participating experts discussed the important influence of the future power mix on attracting clean industry investment. Raja Datuk Dr Abdul Aziz Raja Adnan, Chairman of the Atomic Energy Advisory Council of Malaysia, pointed out that as incoming enterprises accelerate their low-carbon transition, long-term reliance on fossil fuels could weaken Selangor's industrial attractiveness. He emphasized that national-level nuclear energy planning requires long-term policy support, efficient coordination among regulatory bodies, and clear division of institutional responsibilities, and should become a bipartisan consensus decision.

Ahmad Zuhairi Muzakir, Senior Director of Nuclear Energy Projects at MyPOWER Corporation, noted that as existing coal-fired power plants enter the retirement phase, the grid urgently needs alternative baseload power sources capable of stable round-the-clock output. An estimated 7 GW of coal-fired capacity nationwide is expected to retire by 2035, with a further 5 GW retiring by 2044; MyPOWER Corporation is committed to coordinating the building of a sustainable nuclear energy ecosystem, bringing together forces across policy, industrial manufacturing, financial investment, and professional education.

Tom Cross, Technical Director of Nuclear Energy for Asia Pacific at Mott MacDonald, analyzed that modern nuclear reactor designs have fully drawn on historical experience, introducing passive safety systems that use gravity and natural circulation for cooling, and that modular manufacturing methods allow core components to be prefabricated in controlled factory environments and assembled directly on site, significantly improving the controllability of project schedules. However, the expected advantages of Small Modular Reactors (SMR) in delivery schedules and construction costs still need to be demonstrated in subsequent demonstration projects. Forum moderator Syed Saggaf, citing global energy investment data, pointed out that the conversion rate of nuclear power projects from announcement to Final Investment Decision is approximately 40%, ranking second highest among all energy types. Ahmad Zaki stated that enhancing public awareness is an indispensable part of Malaysia's nuclear power preparation, and that sustained and in-depth science communication is urgently needed for community residents, young people, and decision-makers to scientifically assess the strategic value of nuclear energy technology in the nation's future energy mix.