KUALA LUMPUR – Digital Minister Gobind Singh Deo has referred questions about a possible investigation into Speedmatrix Sdn Bhd to Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani, following allegations linking the company to attempts to circumvent US restrictions on advanced AI chips.
Speaking to reporters after opening National AI Readiness Week, Gobind was asked whether he would press for an investigation into Speedmatrix following reports linking the company to allegations of attempts to circumvent United States export restrictions on advanced artificial intelligence (AI) chips.
"Well, I think Johari has issued a statement and said something about it a couple of days ago. So, let's leave it at that," he said.
Johari had previously said the government had not received credible evidence suggesting that Speedmatrix had breached Malaysian laws, adding that the Investment, Trade and Industry Ministry (MITI) had not launched an investigation into the company.
In a Malaysiakini report on Tuesday, Johari said any credible evidence or formal request from foreign authorities would be assessed in accordance with Malaysian laws and procedures.
"Should credible evidence or a formal request from any foreign authority be received, it will be assessed and acted upon in accordance with our laws and processes," he was quoted as saying.
He also stressed that Malaysia would not allow its territory to be used as a conduit for circumventing export controls, warning that firm action would be taken against any company found to have violated local laws.
The controversy follows reports over the weekend concerning Nvidia chief executive Jensen Huang and a suspected Chinese spy allegedly involved in helping entities evade US restrictions on the export of high-performance computing chips to China.
Media reports said Huang had acknowledged the alleged relationship, prompting Nvidia to launch an internal investigation. The individual is also alleged to have links to Singapore-based Megaspeed International.
In October, The New York Times reported that the relatively obscure company had sought to purchase nearly US$2 billion (RM8.4 billion) worth of Nvidia chips through its Malaysian subsidiaries.
The report said Megaspeed was under investigation by authorities in the US and Singapore amid concerns that restricted semiconductor technology could have been diverted to unauthorised parties.
A search of company registry records identified two Malaysian entities associated with Megaspeed International – Speedmatrix Sdn Bhd and MSFusion Sdn Bhd – both operating in the data processing and hosting infrastructure services sector.
Speedmatrix has an issued capital of RM2.5 million but reported a net loss of RM103.16 million against revenue of RM522.31 million for the financial year ended December 31, 2024.
MSFusion, meanwhile, has an issued capital of RM36 million but recorded no revenue and a net loss of RM16,149 as of November 9.
Both companies list business addresses within the same development in Taman Eko Botani, Iskandar Puteri, Johor.
Separately, MSFusion has been involved in a substantial land transaction in Johor.
In August 2025, Crescendo Corp Bhd's subsidiary, Crescendo Development Sdn Bhd (CDSB), agreed to sell a 52.54-acre parcel at Bandar Cemerlang Industrial Park in Kota Tinggi to MSFusion for RM263.21 million.
The deal ran into difficulties in August this year when Crescendo Corp issued a notice to MSFusion over RM225.91 million in outstanding payments.
However, Crescendo Corp announced in a September 9 filing with Bursa Malaysia that MSFusion had subsequently settled the outstanding sum, including all late payment charges. - November 12, 2026
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