Kuching: Local analytics companies have been urged to assist the Sarawak government in its hydrogen production initiative to support the state’s green energy transformation for the public transport sector. Sarawak Premier Tan Sri Abang Johari Tun Openg said that with the expertise provided by such companies, the state’s development can move towards a more sustainable future with a market- and technology-driven economy.

According to BERNAMA News Agency, Abang Johari highlighted that local companies such as Insights Analytics Bhd (IAB) possess expertise in water-related businesses and are strategically positioned to explore the production of hydrogen, which is recognized as clean and sustainable energy. He expressed confidence that these companies could explore opportunities in hydrogen production for the public transport system. He made these remarks at the launch of IAB’s initial public offering (IPO) prospectus.

Abang Johari emphasized the importance of using technology to optimize market potential and adapt to changes in technology. Kuching-based IAB, which provides water technology solutions and intelligent asset management solutions, is making a public issue of 121 million new shares and an offer for sale of 27.5 million existing shares at 36 sen, coinciding with its listing on Bursa Malaysia’s ACE Market.

AIB is expected to raise gross proceeds of RM43.56 million through the IPO. IAB’s managing director, Frank Wee, stated that RM22.2 million, or 50.9 percent of the amount, will be allocated for general working capital for ongoing and future projects, particularly in the smart water management sector and smart city development initiative in Sarawak.