BANGI, September 3 — Terengganu Mentri Besar Datuk Seri Ahmad Samsuri Mokhtar announced today that the newly established SG4 Group Sdn Bhd, owned by Perikatan Nasional (PN)-led states, has already garnered investment interest from government-linked companies (GLCs) and foreign firms eager to explore rare earth elements in these regions.
Ahmad Samsuri emphasized that these inquiries are in the preliminary stages, focusing on obtaining exploration licenses and identifying viable areas for development. He highlighted the importance of conducting thorough assessments before proceeding with exploration, especially given the potential for significant value increases when raw materials are processed into advanced products, such as super magnets and electric vehicle components.
Ongoing discussions with companies and countries, including Korea, Japan, and China, are progressing, but Ahmad Samsuri cautioned against disclosing potential investment figures until negotiations are more concrete. “It’s crucial to only announce figures when they are confirmed,” he said, underscoring the importance of careful deliberation during this early phase.
