KUALA LUMPUR (Jan 9): The utilities sector remains a key beneficiary of Malaysia’s accelerating data centre roll-out, underpinned by resilient electricity demand growth and long-term recurring income streams. Kenanga Investment Bank Bhd (Kenanga IB) maintained its 2026 demand growth forecast of 3.5%, supported by rising commercial load and rapid data centre capacity additions, in a note on Friday. “Data centre load utilisation rose sharply to 710 megawatt (MW) in September 2025 from 503MW in June 2025. In addition, with no new coal-fired plants planned, gas-fired generation remains the key swing capacity to support demand growth. Meanwhile, rising gas demand underpins positive earnings prospects for PETRONAS Gas Bhd (KL:PETGAS) and Gas Malaysia Bhd (KL:GASMSIA), the house added.

Source: The Edge Markets January 09, 2026 04:27 UTC