Forward-Looking Statements
This press release contains statements other than statements of historical fact, or
“forward-looking statements,” including those that may fall within the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of 1995, where applicable.
Some of these forward-looking statements can be identified by the use of words such as
“anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,”
“should,” “could,” “would,” “may,” “will,” “forecast,” “opportunity,” “potential,” or other
similar expressions. Such statements include, without limitation, statements regarding
the development of AI infrastructure projects in Sarawak, the work plan, governance and
staged funding under the joint development agreement, the formation and capitalisation
of the joint venture entity, cooperation among SoftBank Group, Grab and PETROS (the
“Companies”), contributions by the Companies to the projects, and the expected
benefits of the initiative. These statements are based on the views, expectations and
assumptions of the relevant Company or Companies as of the date of this press release
and therefore should not be relied upon as necessarily indicative of future results.
Forward-looking statements involve known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from those expressed or
implied by these statements. These factors include, but are not limited to:
(i) the possibility that the Companies will not enter into definitive agreements, that the
Companies will not reach agreement on definitive investment and governance terms, or
that the projects will not proceed on the contemplated terms or at all;
(ii) uncertainties relating to the outcome of due diligence, each party's internal
approvals, required governmental or regulatory approvals and permits in Malaysia or
other relevant jurisdictions, and financing for the projects;
(iii) the possibility that suitable land, competitively priced and reliable power,
connectivity, or contracted customer demand will not be secured, or that milestones
required to release development funding will not be met;
(iv) changes in demand for or pricing of AI compute and related services, technological
developments, competition, or other market conditions;
(v) the possibility that technical, commercial or regulatory assessments will show that
the projects are not feasible or cannot be implemented at the contemplated scale or
within the contemplated timeframe;
(vi) the possibility that the initiative will require substantial capital and resources to
succeed, and that it may not succeed or deliver the expected benefits even if such
capital and resources are committed; and
(vii) changes in applicable laws, regulations or government policies.
The joint development agreement contains binding development and funding
obligations, but the terms of each Company's investment and the operational terms of
the joint venture entities remain subject to definitive agreements and the conditions
described above. You should also consider the risks concerning Grab described in