Energy Security: Virtual ASEAN Summit 2026 Feedback: Rare Earths, Power Grids and AI

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Energy Security: Virtual ASEAN Summit 2026 Feedback: Rare Earths, Power Grids and AI

Update

June 22, 2026 01:39 AM GMT

Morgan Stanley Asia (Singapore) Pte.+MEnergy Security | Asia Pacific Mayank Maheshwari

Equity Analyst

Virtual ASEAN Summit 2026 Mayank.Maheshwari@morganstanley.comMorgan Stanley Australia Limited+ +65 6834-6719

Rahul Anand, CFA

Equity AnalystFeedback: Rare Earths, Power R.Anand@morganstanley.com +61 2 9770-1136

Morgan Stanley Asia (Singapore) Pte.+Grids and AI Vivek Rajamani

Power grids and rare earths are the critical bottlenecks in the Vivek.Rajamani@morganstanley.com +65 6834-6740

Ryan M Heng

age of electricity and tokens. Our panel with Lynas and Tenaga Equity Analyst

highlighted the industry path ahead as the bottlenecks get acute Ryan.Heng@morganstanley.com +65 6834-6465

with the rising need for power and energy security.

Key Takeaways

Governments underwriting pricing for rare earths helping economies to grow

ASEAN Energy and Materials

supply chains outside China, ASEAN is a relatively competitive base for Asia Pacific

processing. Industry View Attractive

Rare earths processing capacity cost is about 20% higher in Malaysia. Related Research: Energy Meets Compute:

Power Constrains GB200/300 NVL2 Rack

Power grid loads are changing in Malaysia, the hub for 8GW of datacenter

Deployments

capacity expansion; TNB sees new gas generation and energy storage as

solutions.

Equipment shortages are less of an issue for TNB, but the company is trying to

manage cost inflation and has also got commitments for gas turbines.

We hosted Daniel Havas, VP Strategy and Investor Relations, Lynas Rare Earths

(covered by Rahul Anand) and Ir. Mohd Junaizee, Head, Grid Division, Tenaga

Nasional for their perspectives around rare earths and generation supply chains.