{"id":27795,"date":"2024-10-25T15:11:59","date_gmt":"2024-10-25T07:11:59","guid":{"rendered":"https:\/\/www.kwap.okie.my\/?post_type=media-centre&#038;p=27795"},"modified":"2024-11-30T16:53:01","modified_gmt":"2024-11-30T08:53:01","slug":"kwap-invests-rm219-million-in-cyan-renewables","status":"publish","type":"media-centre","link":"https:\/\/www.kwap.gov.my\/stg\/media-centre\/kwap-invests-rm219-million-in-cyan-renewables\/","title":{"rendered":"KWAP Invests RM219 Million in Cyan Renewables"},"content":{"rendered":"<p><strong>KUALA LUMPUR, 25 October 2024<\/strong> \u2013 Kumpulan Wang Persaraan (Diperbadankan) (\u201c<strong>KWAP<\/strong>\u201d) has successfully completed its investment of RM219 million for a minority stake in Cyan Renewables (&#8220;<strong>Cyan<\/strong>&#8220;), Asia&#8217;s largest offshore support vessels owner and operator. KWAP is a co-investor to the deal, led by Seraya Partners, a mid-market Asia-focused infrastructure investor. The strategic investment aligns with KWAP&#8217;s commitment to the Ekonomi MADANI framework supporting its core values of sustainability, prosperity, and innovation.<\/p>\n<p>\u00a0<\/p>\n<p>Chief Investment Officer of KWAP, Hazman Hilmi Sallahuddin, stated, \u201cThe investment into Cyan is an epitome of our commitment in realising our pledge towards achieving RM20 billion investment in transition assets by 2030, bolstering the Ekonomi MADANI and sustainability goals. Cyan also supports the transition of legacy to clean energy by providing essential, high value services which \u2018Raises the Ceiling\u2019 and also develops skilled professionals locally, which \u2018Raises the Floor\u2019. This initiative is also part of KWAP\u2019s commitment under the GEAR-uP programme, led by the Ministry of Finance in synergising efforts across GLICs to catalyse growth in key economic sectors including infrastructure, transport, and renewable energy, amongst others.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>James Chern, Managing Partner and Chief Investment Officer of Seraya Partners, said, \u201cCyan is a key energy transition platform for Seraya and has grown to become the largest offshore wind and environmental protection vessel operator globally. We are excited for this opportunity to partner with KWAP and to support its strategic objectives for uplifting the Malaysian economy.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>KWAP recognises Cyan\u2019s position as the leading vessel operator by fleet size and cumulative experience in wind, approximately over 1000 wind days, in Asia. It operates a fleet of 32 offshore support vessels, providing maritime offerings from early-stage development to late-stage operations and maintenance, servicing various blue-chip customers across legacy energy and offshore wind sectors with a large focus on the latter in the coming years.<\/p>\n<p>\u00a0<\/p>\n<p>Cyan is already generating significant revenues from Malaysia and is committed to further boosting the country&#8217;s offshore support vessel industry, with plans to invest up to RM1 billion together with KWAP in various endeavours, such as establishing its Southeast Asia headquarters in Malaysia and the development of fleet management and chartering teams based in Kuala Lumpur and Miri.<\/p>\n<p>\u00a0<\/p>\n<p>In addition to that, Cyan plans to hire seafaring professionals locally, and through collaborations with Malaysian organisations, will sponsor cadets over the next 10 years, offering training and employment opportunities post-graduation. On top of that, Cyan will explore expanding operations by utilising local shipyards for vessel repairs and new builds, indirectly supporting the growth of Malaysia&#8217;s vessel industry.<\/p>\n<p>\u00a0<\/p>\n<p>KWAP anticipates furthering its investments in the energy transition space in support of resilient, green economies for future generations, which aligns with Cyan\u2019s commitment to catalyse the transition towards \u201cgreen\u201d by servicing more ESG driven sectors within the maritime space.<\/p>\n<p>\t\t\t-END-\t\t<\/p>\n<p><strong>Disclaimer: This press release shall not constitute and shall not be construed as forming any offer, invitation, promotion, or solicitation to invest or subscribe for interests in the investment in any jurisdiction.<\/strong><\/p>\n<p>\u00a0<\/p>\n<p><strong>About Kumpulan Wang Persaraan (Diperbadankan)<\/strong><br \/>Kumpulan Wang Persaraan (Diperbadankan) [KWAP] or the Retirement Fund (Incorporated) was established on 1st March 2007 under the Retirement Fund Act 2007 (Act 662).<\/p>\n<p>\u00a0<\/p>\n<p>KWAP manages contributions from the Federal Government and relevant agencies made into the Retirement Fund (\u201c<strong>Fund<\/strong>\u201d) to obtain optimum returns on its investments through sound management and investment of the Fund in equity, fixed income securities, money market instruments, and other forms of investments as permitted under the Retirement Fund Act 2007 (Act 662). The Fund shall be applied towards assisting the Federal Government in financing its pension duties. In 2015, KWAP was officially appointed as an agent of the Federal Government, for the purpose of pension payment, gratuity, or other benefits granted under any written law from the Consolidated Fund as agreed between the Federal Government and KWAP.<\/p>\n<p>Visit <a title=\"https:\/\/www.kwap.gov.my\/stg\/en\" href=\"https:\/\/www.kwap.gov.my\/stg\/my\">https:\/\/www.kwap.gov.my\/stg\/my<\/a>\/ for more information.<\/p>\n<p>\u00a0<\/p>\n<p><strong>For media enquiries, please contact:\u00a0\u200b<\/strong><br \/><strong>Amirah Kamarulzaman<\/strong><br \/>Public Relations and Communications,<br \/>Strategic Communications Department<br \/>Kumpulan Wang Persaraan (Diperbadankan) [KWAP]<br \/>Contact Number: +603-2174 8000<br \/>Email: <a href=\"mailto:nurulamirah.k@kwap.gov.my\">nurulamirah.k@kwap.gov.my<\/a>\u00a0<\/p>\n<p><strong><br \/>About Seraya Partners<\/strong><br \/>Seraya Partners is Asia\u2019s first independent next generation infrastructure fund manager investing in digital infrastructure and energy transition sectors. It pursues a control-only platform strategy, targeting mid-market opportunities in developed Asia and Southeast Asia markets. The senior team members each bring two decades of broad sector expertise and deep operating track record covering all its target markets. With US$1.1 billion in AUM across our funds and co-investment vehicles, Seraya Partners delivers differentiated value for institutional investors and family offices around the world.<br \/>For media enquiries, please contact <a href=\"mailto:enquiries@serayapartners.com\">enquiries@serayapartners.com<\/a><\/p>\n<p><strong><br \/>About Cyan Renewables<\/strong><\/p>\n<p>Headquartered in Singapore and fully owned by Seraya Partners, Cyan Renewables is Asia&#8217;s first dedicated offshore wind vessel operator supporting the fast-growing offshore wind farm industry and the marine sector\u2019s transition from \u201cblue to green\u201d. Built on the strong foundation of a team led by industry veterans, Cyan Renewables aspires to accelerate the growth of the global offshore wind sector by investing in a dedicated fleet of wind farm support vessels to support the full lifecycle of offshore wind farms from installation to servicing and maintenance. By being the partner of choice to both wind farm developers and vessel operators, Cyan Renewables aims to facilitate the world\u2019s transition towards a greener future built on sustainable renewable energy.<\/p>\n<p>For media enquiries, please contact <a href=\"mailto:corporatecomms@cyanrenewables.com\">corporatecomms@cyanrenewables.com<\/a><\/p>\n","protected":false},"featured_media":0,"parent":0,"template":"","categories":[154],"tags":[574],"media_centre":[174],"class_list":["post-27795","media-centre","type-media-centre","status-publish","hentry","category-kenyataan-akhbar","tag-574","media_centre-kenyataan-akhbar"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KWAP Invests RM219 Million in Cyan Renewables - KWAP<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KWAP Invests RM219 Million in Cyan Renewables - KWAP\" \/>\n<meta property=\"og:description\" content=\"KUALA LUMPUR, 25 October 2024 \u2013 Kumpulan Wang Persaraan (Diperbadankan) (\u201cKWAP\u201d) has successfully completed its investment of RM219 million for a minority stake in Cyan Renewables (&#8220;Cyan&#8220;), Asia&#8217;s largest offshore support vessels owner and operator. KWAP is a co-investor to the deal, led by Seraya Partners, a mid-market Asia-focused infrastructure investor. 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