This is the Tagline, edited under "Misc Content"
Jul 28, 2024
KUALA LUMPUR, Malaysia – July 29, 2024 – In the rapidly growing digital landscape, Malaysia is experiencing a surge in demand for data centers across various industries. Recognising this potential, Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today announced an investment of RM23 million (approximately US$5 million) to acquire land from Cyberview Sdn Bhd (“Cyberview”) in Cyberjaya to expand its data center capacity in Malaysia. Following the launches of its International Business ExchangeTM (IBX®) in Kuala Lumpur (KL1) and Johor (JH1), the additional land will be instrumental in addressing the rising demand for reliable, high-performance data center services in Malaysia and the broader Southeast Asian region.
Malaysia's data center market is rapidly expanding due to its strategic location, supportive government policies, and increasing demand for digital infrastructure. As Southeast Asia becomes a significant hub for digital transformation, Malaysia is emerging as a key player, aspiring to transform into a digitally-driven, high-income economy. Factors such as geopolitical stability, a skilled workforce, improved connectivity, and a focus on renewable energy sources are propelling the data center market, which is expected to grow at a CAGR of nearly 14% and reach an estimated US$3.97 billion by 2029.1
Located in Malaysia’s Global Tech Hub of Cyberjaya, Kuala Lumpur, the acquired land is less than one kilometer from the existing KL1 facility. With a total area of 14,300 square meters, the newly acquired land will serve as a strategic complement to KL1, enabling Equinix to further enhance its ecosystem in Malaysia to cater to a wide range of network and cloud service providers, as well as enterprises spanning various industries.
Dato’ Seri Amirudin Shari, Chief Minister of Selangor, participated in the document exchange ceremony between Equinix and Cyberview. At the ceremony, he said, “Selangor aims to accelerate the pace of digitising our economy, and data centers are a key component of the digital economy backbone. Equinix's investment, renowned for its global expertise in building resilient digital infrastructure and fostering a robust network ecosystem, is poised to contribute significantly to the adoption of cloud technology by Malaysian companies.”
“Malaysia boasts a substantial Internet user base, with a staggering 96.8% of the population actively engaging in various digital activities such as video streaming, online shopping, online banking and gaming. Consequently, businesses operating in Malaysia are increasingly seeking secure and scalable data center services and access to digital ecosystems to meet the demands of this tech-savvy consumer base. Equinix's unique positioning and competitive edges make it the company of choice,” said Cheam Tat Inn, Managing Director, Equinix Malaysia.
Kamarul Ariffin Abdul Samad, CEO of Cyberview said “The digital economy contributes 23% to the country’s GDP and with Cyberjaya having the highest concentration of tech companies in Malaysia, the city plays a pivotal role in contributing to the growth of Malaysia’s digital economy. Last year alone, Cyberjaya saw a rapid increase in data center investment and today, with the land expansion of Equinix, this is a testament to Cyberview’s commitment in fostering innovation and ensuring that Cyberjaya continues to be the preferred investment location for tech companies.”
Equinix currently has two data centres in Malaysia, JH1 and KL1. JH1 offers 500 cabinets and 1,960 square metres of colocation space, while KL1 will provide 900 cabinets and 2,630 square metres of colocation space once fully built. These facilities have already attracted various network, content, fintech, gaming and AI companies to deploy their IT infrastructure.
In Asia-Pacific, Equinix currently has 56 data centres located in key metropolitan areas across Australia, China, Hong Kong, India, Japan, Korea, Malaysia and Singapore. Its global presence with 260 data centres across 71 metropolitan areas continues to support over 10,000 leading businesses worldwide.
Supporting Resources:
About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company®. Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational Infrastructure at software speed. Equinix enables organizations to access all the right places, partners, and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences, and multiply their value while supporting their sustainability goals.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, risks to our business and operating results related to the current inflationary environment; foreign currency exchange rate fluctuations; stock price fluctuations; increased costs to procure power and the general volatility in the global energy market; the challenges of acquiring, operating and constructing IBX® and xScale® data centers and developing, deploying and delivering Equinix products and solutions; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT; risks related to regulatory inquiries or litigation and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent and upcoming Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix Media Contact (Asia-Pacific):
Annie Ho
Equinix
annho@ap.equinix.com
Equinix Media Contact (Malaysia):
TEAM LEWIS Malaysia
equinixmy@teamlewis.com
About Cyberview Sdn Bhd
Cyberview has been at the forefront of Malaysia's development as a technological hub since its inception in 1996. Starting out as the landowner of Cyberjaya, it has grown from strength to strength until maturing into its current role as the tech hub developer of Cyberjaya.
http://www.cyberview.com.my.
For further inquiries, please contact:
Azleena Najri
Manager – Public Relations
Strategic Communications & Marketing,
Cyberview Sdn Bhd
HP: +6017 4772832
Email: nurul.azleena@cyberview.com.my
1 Malaysia Data Center Market – Investment Analysis & Growth Opportunity 2024 – 2029, April 2024