Meta Bright seals JVA with ChargeHere to accelerate its energy biz development in Malaysia
Under the JV entered into by its 100%-owned subsidiary Meta Bright Energy Sdn Bhd, both parties have agreed to incorporate a new joint venture company – Meta Bright Chargesini Sdn Bhd which is dedicated to developing, installing and operating EV charging infrastructure across Malaysia.
Eventually Meta Bright Chargesini will target malls, hotels, residential and commercial areas. Meta Bright Energy will hold a controlling stake of 51% in the project with the balance held by ChargeHere.
ChargeHere which operates under the 'ChargeSini' brand currently manages Malaysia's largest network of EV charging points with 935 charging stations across 300 locations, serving over 32,000 active users.
This collaboration enables Meta Bright to leverage ChargeHere's established technical capabilities and operational experience to advance the group's presence in the growing EV infrastructure sector.
'This strategic JV with ChargeHere significantly expands our capabilities within the renewable energy (RE) sector, particularly in EV infrastructure,' commented Meta Bright's executive director (corporate and strategic planning) Derek Phang Kiew Lim.
'It represents an essential milestone for Meta Bright, aligning closely with our ESG (environmental, social and governance) goals and strategic focus on creating sustainable, recurring revenue streams.'
Through this initiative, Phang expects Meta Bright to capitalise on the government's ambitious National Energy Transition Roadmap (NETR) which outlines the strategic expansion of RE and sustainable infrastructure nationwide, including the establishment of 10,000 EV charging stations by 2025.
Both parties have immediately identified several urgent and approved projects to launch under this JV with key locations in Johor, Penang, and Selangor.
Additionally, the partnership is already actively planning subsequent stages of expansion with an extensive pipeline of upcoming projects that include notable sites across Kuala Lumpur, Pahang and Melaka, among others.
These sites range from prominent hotels and commercial buildings to large residential condominiums, thus showing a significant scale of operations set to unfold in the near future.
'Our immediate and planned installations will substantially broaden our operational footprint in key urban areas, hence supporting national goals and meeting rising consumer demand for accessible EV charging solutions,' added Derek.
At the close of market trading yesterday (July 11), Meta Bright was unchanged at 12 sen with 2.77 million shares traded, thus valuing the company at RM304 mil. – July 12, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
13 hours ago
- The Sun
13MP to boost utilities and renewable energy sectors in Malaysia
KUALA LUMPUR: The 13th Malaysia Plan (13MP) is expected to accelerate the shift from fossil fuels to cleaner and greener energy, with targets to enhance the electricity supply system, empower solar, hydro and waste-to-energy projects and explore nuclear power, said MBSB Investment Bank Bhd. The investment bank said this is in line with the long-term roadmap of the National Energy Transition Roadmap to achieve a 41 per cent and 70 per cent renewable energy (RE) mix target by 2035 and 2050, respectively. Hence, it has maintained a 'positive' stance on the utilities sector and the RE subsector, underpinned by the structural policy tailwinds for a deep decarbonisation trajectory. 'We view that solar remains a multi-year growth engine, which will benefit engineering, procurement, construction and commissioning (EPCC) players such as Solarvest, Samaiden, Pekat, Sunview and Northern Solar. 'Tenaga Nasional will be the key beneficiary in the asset ownership space from both RE capacity expansion and grid upgrade investments,' it said in a research note. Meanwhile, the bank said the recent request for proposal (RFP) for new gas-fired power generation capacity also presents a positive catalyst for the sector. This will be undertaken via two categories, namely the extension of the concession period for existing gas-fired power plants with expiring or expired existing power purchase agreements, and the development of new gas-fired power plants, it said. 'RFP is expected to add about eight gigawatts (GW) of new capacity. We expect independent power producers such as Malakoff and YTL Power International to be among the front runners for this new scheme,' it noted. On the electricity supply system, MBSB Investment said the battery energy storage system is expected to achieve commercial operation date by 2026. It said solar power will be the main driver in achieving the country's overarching RE goals. On top of the corporate renewable energy supply scheme and community renewable energy aggregation mechanism, MBSB expects the government to maintain its aggressive rollout of large-scale solar (LSS) schemes, starting with the LSS PETRA 5+ in the second half of 2025, which is set to add another two GW of solar capacity to Malaysia's energy mix. Meanwhile, it also anticipates EPCC contractors and mechanical and electrical firms to be among the initial beneficiaries from Sarawak's grid interconnection to Peninsular Malaysia. 'We view that nuclear power offers Malaysia a powerful lever to secure low-carbon, reliable baseload capacity, which addresses the intermittency concerns and bolsters energy security. 'However, it comes with steep capital requirements, complex waste and safety obligations,' it said, adding that the government is currently exploring new technologies such as small modular reactors. - Bernama
The Star
18 hours ago
- The Star
FBM KLCI rises on Wall St rebound
KUALA LUMPUR: The momentum of Wall Street's rebound spilled over on to the global equities at Tuesday's open, giving the sluggish domestic market some upward lift. At 9am, the benchmark FBM KLCI was up 1.65 points to 1,540.64, still tightly wound around a consolidation channel as investors awaited fresh catalysts. According to TA Securities, the overnight rally on Wall Street should cushion the lack-luster local market today, but the undertone remains cautious as investors refrain from trading commitments in the absence of market direction. "Immediate index support remains at 1,490, with stronger support found at 1,465 followed by 1,444. Immediate resistance stays at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead," it said in a commentary. Malacca Securities said it favoured the technology sector as the OPR cut and anticipated Federal Reserve rate easing are expected to lower borrowing costs for technology companies. "Malaysian tech players remain exempted from US tariffs, with our top picks including Frontken, Vitrox and EG," it said in a note. It added that Sunlogy's rally yesterday may spur spillover interest in other solar-related counters, supported by positive developments in the renewable energy space, including NETR and the 13MP. Lastly, the research firm said investors may shift their attention to REITs for domestic-focused exposure. On the market today, Maybank rose nine sen to RM9.63 and Hong Leong Bank jumped eight sen to RM18.98. Kelington jumped 17 sen to RM4.37 on reports the company is in talks with a client for a semiconductor hook-up project at a wafer fabrication plant in Dresden, Germany, potentially worth up to EUR50mil. Meanwhile, Inari Amertron rose two sen to RM3.01. Of actives, NexG dropped 0.5 sen to 53 sen, Pharmaniaga gained 0.5 sen to 18.5 sen and Top Glove fell 0.5 sen to 65 sen.
The Sun
a day ago
- The Sun
Wasco scales up global sustainability efforts
KUALA LUMPUR: Riding high on its recent win as Company of the Year (Energy Solutions) at the CSR Malaysia Awards 2025, Wasco Berhad is looking to scale up its global sustainability efforts, with a strong focus on deepening community engagement and driving forward Malaysia's energy transition goals. The group is expected to accelerate initiatives aligned with its net-zero target by 2026 while building long-term regional partnerships that strengthen green value chains across its operating markets. The award comes on the back of a milestone year for Wasco. In 2024, the group invested nearly RM800,000 in social and environmental programmes that collectively reached approximately 12,000 lives across Malaysia, Tanzania, Qatar, the United Arab Emirates, Singapore and Indonesia. These efforts, anchored on healthcare, humanity and environmental protection, were not just CSR gestures, but integral to Wasco's broader decarbonisation and sustainability strategy. Among the 55 initiatives implemented were free health screenings, vaccination drives, food and disaster relief, school infrastructure upgrades and environmental awareness campaigns promoting circular economy practices. These community-driven projects were matched by strong internal participation, with Wasco employees collectively contributing more than 11,800 hours of volunteer time. 'Corporate responsibility is embedded in our DNA. It is part of our promise to deliver meaningful, measurable value for people, planet and progress,' said Wasco Berhad chief strategy officer Ariesza Noor. 'This award affirms our belief that sustainability is most powerful when it is people-powered. We will continue to elevate our efforts in line with our broader environmental, social and governance (ESG) ambitions.' Wasco's impact efforts are also closely tied to national and global frameworks. The group's initiatives reflect Malaysia's 12th Malaysia plan and the National Energy Transition Roadmap, while aligning with several United Nations sustainable development goals (SDGs), including good health and well-being (SDG 3), responsible consumption and production (SDG 12), climate action (SDG 13) and life on land (SDG 15). Beyond short-term outreach, Wasco has also committed to longer-term environmental restoration through its Wasco Forest initiative, launched in 2021. This project supports forest protection and carbon sequestration, forming part of the group's broader goal of achieving net-zero Scope 1 and Scope 2 emissions by 2026. These efforts are bolstered by Wasco's strong presence on ESG benchmarks, including the FTSE4Good Bursa Malaysia Index and the FTSE4Good Bursa Malaysia Syariah Index. Receiving the award on behalf of the group was Lily Rozita Mohamad Khairi, a board member and chairman of the board sustainability committee. She expressed that the recognition serves not only as validation of Wasco's ongoing work, but as motivation to push further. 'As we transition towards a low-carbon economy, the private sector must step up, not just to reduce emissions, but to build social resilience and empower local communities,' she said. 'Wasco believes in growing together with the communities we serve and this award reflects that shared journey.' Established in 1999, Wasco Berhad is a main market-listed company with a presence in 14 countries. Its operations are anchored in two core divisions: the energy services division, which specialises in advanced pipe coating, corrosion protection and engineering; and the bioenergy services division, which delivers biomass energy solutions to plantation, petrochemical and industrial clients. The group remains steadfast in its commitment to the United Nations global compact principles, particularly in areas concerning human rights, labour standards, environmental protection and anti-corruption.
