CURRENC to Develop 500MW Hyperscale AI Data Center in Malaysia
Rhea-AI Summary
CURRENC Group Inc. (Nasdaq: CURR) has announced plans to develop a 500MW hyperscale Artificial Intelligence Data Center (AIDC) in Johor, Malaysia. The company will acquire 100 acres of land for the campus, with Phase 1 (100MW) targeted for completion by end of 2026.
The AIDC will provide co-location and wholesale leasing solutions to hyperscalers, enterprise clients, and data center users. Construction of each phase will begin after securing long-term tenants for a substantial portion of the planned capacity. The facility aims to be one of Southeast Asia's largest AIDCs, supporting financial institutions' AI adoption.
Located 20km north of Singapore, Johor offers strategic advantages including direct fiber optic links, reliable power infrastructure, and attractive tax incentives from the Malaysian government. The project aligns with CURRENC's strategy to provide comprehensive AI solutions and lower entry barriers for financial institutions implementing AI technology.
Positive
- Major infrastructure expansion with 500MW total capacity AIDC development
- Strategic location with direct access to Singapore's market
- Government tax incentives supporting operational efficiency
- Phased development approach reducing initial capital risk
- Secured tenant requirement before construction reduces occupancy risk
Negative
- Significant capital investment required for 100-acre development
- Project completion dependent on securing anchor tenants
- Extended timeline to full capacity with phased development
- Potential execution risks in large-scale infrastructure project
News Market Reaction 1 Alert
On the day this news was published, CURR declined 30.74%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Groundbreaking Infrastructure Project Propelling Global Financial Institutions’ AI Innovation
SINGAPORE, March 18, 2025 (GLOBE NEWSWIRE) -- CURRENC Group Inc. (Nasdaq: CURR) (“CURRENC” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced plans to acquire 100 acres of land in Johor, Malaysia, to build a hyperscale Artificial Intelligence Data Center (AIDC).
Featuring a total planned capacity of 500MW, the 100-acre AIDC campus will be developed in phases. Phase 1, comprising 100MW, is targeted for completion and operation by the end of 2026. The campus will provide co-location and wholesale leasing solutions to hyperscalers, enterprise clients, and other data center users, catering to diverse needs and ensuring a robust tenant base. Upon completion, the facility is expected to be one of Southeast Asia’s largest AIDCs and will serve as a cornerstone in CURRENC's strategy to accelerate financial institutions’ adoption of AI technology.
The Company is currently in discussions with anchor tenants. Construction of each phase of the facility will commence once the Company has secured long-term tenants to occupy a substantial portion of that phase’s planned capacity.
“This investment marks the beginning of a new chapter in CURRENC’s development, complementing our existing portfolio of AI tools for financial institutions,” said Alex Kong, Founder and Executive Chairman of CURRENC. “With open-source models such as DeepSeek and Qwen quickly reducing the cost of AI deployment and large language model training, AI is rapidly becoming a necessity to remain competitive in the financial industry, boosting global demand for AI technology and support. Our new AIDC will deliver unmatched computing power as well as the flexible, scalable infrastructure that financial institutions require to implement AI throughout their operations and thrive in the digital era. Bolstered by our AIDC, CURRENC’s comprehensive AI solutions will continue to lower entry barriers for financial institutions to adopt AI, empowering growth across the financial industry and leading the digital transformation in Southeast Asia and beyond.”
Johor, located approximately 20 kilometers north of Singapore, is rapidly emerging as Asia-Pacific's fastest-growing data center hub. The region offers outstanding international data connectivity with direct fiber optic links to Singapore, reliable power infrastructure and attractive tax incentives for both operators and employees offered by the Malaysian government. These favorable conditions position Malaysia as a prime destination for data center operations, particularly catering to the burgeoning demand across the ASEAN region.
About CURRENC Group Inc.
CURRENC Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered tools designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies, cryptocurrency exchanges and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor & Media Contact
CURRENC Group Investor Relations
Email: investors@currencgroup.com
FAQ
What is the total planned capacity of CURRENC's new AI data center in Malaysia?
When will Phase 1 of CURR's Malaysia data center be operational?
How large is the land acquisition for CURR's new data center project?
What services will CURRENC's Malaysia AIDC offer to clients?
Why did CURR choose Johor, Malaysia for its new data center location?
