Miti Says It Never Cleared Megaspeed or Speedmatrix

KUALA LUMPUR: The Ministry of Investment, Trade and Industry (Miti) has said it never cleared Singapore-based Megaspeed International Pte Ltd or its Malaysian affiliate Speedmatrix Sdn Bhd, The Edge reported.

The ministry clarified that Speedmatrix operates as a tenant at data centres in Malaysia, and that verification visits conducted at these facilities are merely part of its regular sector monitoring and should not be taken to mean that a company has been cleared.

AI chip checks

Miti said it is working with the Royal Malaysian Customs Department to determine whether any AI chips brought into Malaysia for Speedmatrix’s operations have been re-exported to other countries, and whether those shipments complied with the law.

“Malaysia will carry out its own checks independently, in accordance with Malaysian law and based on the evidence available,” Miti said, adding that the government will take stern action against any company found to have broken Malaysian law. It said providing false information to Customs regarding such goods is a serious offence under the Customs Act 1967.

Export controls

According to The Edge, importing servers and AI chips into Malaysia requires no permit, but since July 2025 a permit under the Strategic Trade Act 2010 has been mandatory to export, re-export, transship or transit high-performance US AI chips from or through Malaysia.

Miti said it is collaborating with authorities in Singapore and the US and is considering further measures to tighten controls where necessary. It said Malaysia does not enforce unilateral export controls imposed by other countries, but will not allow itself to be used to get around export controls.

Singapore probe

Separately, The Star reported that Singapore and the US have committed to continue discussions on the Megaspeed case. Singapore’s Ministry of Home Affairs said in a Nov 12 statement that the US had provided little help in its investigation into Megaspeed and its former top executive Alice Huang.

The Singapore-based company, which reportedly bought high-end Nvidia chips worth billions of dollars, has been under investigation by Singapore authorities since February 2025 over potentially false declarations relating to server purchases and other suspected offences, the paper reported.

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