Zhiyuan Holdings (00990) Announces AIDC Implementation Arrangements and Kuantan Project Development Plan

Zhitong Finance App News, Zhiyuan Holdings (00990) issued a supplementary announcement to announce AIDC business execution arrangements and AI data center project development plans in Kuantan, Malaysia, regarding the acquisition of Malaysian properties to build an AI data center park. The Group adopts a business model combining internal management and professional outsourcing. The core work team oversees project investment, commercial cooperation, financing arrangements, resource coordination and overall supervision, while external professional companies and contractors undertake specialized design, construction and related technical work.

The total land cost for the Kuantan project was MYR 4174.9 million. The 10% deposit has now been paid, and the remaining amount is paid in instalments according to the approval and delivery milestones. The project is being developed in stages, and the first phase is to be prioritized to develop an artificial intelligence data center. It has received a commitment of 120 megawatts of power generation capacity; construction will commence after regulatory approval and implementation of customer resources and funds. The construction period is expected to be 6 to 12 months, and the funding plan can be flexibly combined with own funds and external cooperative development. The Group plans to develop the remaining seven plots as the second phase of development. Some of the land will be used for artificial intelligence data centers and some for supporting power generation facilities to meet the long-term power requirements of the data center project.

Furthermore, according to Beibu Gulf Holding (Malaysia) Sdn. Letter of commitment issued by Bhd. The company will assist the Group to apply to the Malaysian Energy Commission for the relevant licences required for personal power installations, including providing the required information and supporting letters. The granting of such licences is still subject to approval by the relevant supervisory authority.