KUALA LUMPUR, Nov 14 — Speedmatrix Sdn Bhd’s proposed lease of land in Port Klang will not proceed after the company did not sign a letter of offer that has since expired, Port Klang Free Zone Sdn Bhd (PKFZ) said today.

In a statement today, PKFZ said it was responding to recent reports concerning Speedmatrix.

“PKFZ remains resolute in preventing the Free Zone from being used for unlawful activities,” said its chairman Lim Lip Eng, who is also Kepong MP.

PKFZ said Speedmatrix sought to lease a parcel of land within the free zone in July.

It said the letter of offer it issued contained terms and conditions, including “an express prohibition on the export of computer chips without prior approval from the relevant authorities”.

PKFZ said Speedmatrix did not execute the letter of offer within the stipulated validity period, and the offer expired in early November.

It said it formally notified Speedmatrix on November 13 that the letter of offer had lapsed and that the proposed lease would not proceed.

“Through due diligence, risk assessments, company background checks and stringent terms and conditions, PKFZ is committed to addressing risks before businesses commence operations within the zone,” Lim said.

The statement did not elaborate on the reports it referred to.

Yesterday, the Ministry of Investment, Trade and Industry (Miti) said it never cleared Megaspeed or Speedmatrix, and that Speedmatrix is a tenant at data centres in Malaysia. 

Miti is working with the Customs Department to check whether any chips brought into Malaysia were re-exported.

Speedmatrix is the Malaysian unit of Singapore-based data centre company Megaspeed International, a major Nvidia customer. 

The New York Times reported that Speedmatrix bought at least US$4.8 billion of advanced AI equipment containing Nvidia chips between June 2024 and February 2026.

Megaspeed has denied diverting chips illegally to China. 

Alice Huang, a former Megaspeed executive, is alleged by the US to have been recruited by China’s Ministry of State Security to gather information on Nvidia chief executive Jensen Huang; Beijing has rejected the claims.

The two Huangs are not related to each other by blood or marriage.

Alice has been reported to be one of several women to have had an affair with Jensen. 

Jensen told Nvidia employees on November 8 that he had been unfaithful to his wife, and the company’s board opened an independent investigation. 

But Nvidia has also described his contacts with Alice as ordinary customer interactions. 

The Nvidia co-founder resigned as chief executive last Thursday, with chief financial officer Colette Kress appointed interim chief executive.