Meta Bright sells Australian unit for RM25.37 mln, enters JV for EV charging infrastructure
In a filing with Bursa Malaysia today, MBGB said the disposal to Amber International Sdn Bhd is expected to result in a gain of about RM324,000 for the group.
It said proceeds from the disposal will be used to repay RM17 million in bank borrowings and for working capital needs of RM8.37 million within 36 months.
"The proposed disposal allows MBGB and its subsidiaries to mitigate exposure to cross-border operational risks, including increased uncertainties arising from global tariffs, foreign exchange volatility, and geopolitical developments associated with operating business in Australia.
"It also enables the group to reallocate capital towards its core business segments within Malaysia and the broader ASEAN region, where the group has an established operational base and competitive advantage," it said.
Meanwhile, in another filing with Bursa Malaysia, MBGB said it has entered into a joint venture (JV) with ChargeHere EV Solution Sdn Bhd to develop and operate electric vehicle (EV) charging infrastructure across Malaysia.
MBGB said its wholly-owned subsidiary, Meta Bright Energy Sdn Bhd, will hold a 51 per cent stake in the new entity, while ChargeHere EV Solution Sdn Bhd will hold 49 per cent.
"The JV is in line with MBGB group's long-term strategy to broaden its presence in the renewable energy (RE) and energy efficiency sectors, and specifically, to support the advancement of EV infrastructure in Malaysia," it said.
In a separate statement, MBGB executive director of corporate and strategic planning Derek Phang said the joint venture with ChargeHere will allow the group to build its presence in renewable energy and take part in the development of EV infrastructure.
"Our immediate and planned installations will substantially broaden our operational footprint in key urban areas, supporting national goals and meeting rising consumer demand for accessible EV charging solutions," he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
22 minutes ago
- The Star
Motor racing-Brown hails McLaren's 200th win as close to perfect
FILE PHOTO: Formula One F1 - McLaren event in London - Trafalgar Square, London, Britain - July 2, 2025 McLaren chief executive Zak Brown during an interview with Reuters at the McLaren event in Trafalgar Square Action Images via Reuters/Peter Cziborra/File Photo BUDAPEST (Reuters) -McLaren boss Zak Brown hailed the team's 200th Formula One win, with Lando Norris ahead of championship leader Oscar Piastri in a one-two finish in Hungary on Sunday, as close to perfect. The win was Norris's fifth of the season and McLaren's seventh one-two in 14 races as well as the team's fourth in a row. "You're never perfect in a race but I think that was as close to perfect as you can get," Brown told Sky Sports television. "The drivers were awesome, pit stops amazing, strategy was great to get Lando up there, Oscar drove brilliantly. I couldn't be prouder of this racing team." Norris and Piastri crossed the finish line 0.698 of a second apart, with the pair almost touching when the Australian tried to make a move on his British teammate on the penultimate lap and locked up. Team principal Andrea Stella said it had been 'firm' racing but also fair between rivals now separated by just nine points. "We had a bit of a lock-up with Oscar but at the same time Lando left some space because he knew that Oscar would have been at the limit of braking," said the Italian. "We keep being very proud of our Lando and Oscar for racing. I think this is a great way of honouring Formula One racing. These are the value of McLaren." Despite celebrating his ninth career win, Norris said he needed to improve because he was making life too hard for himself. He won from third on the grid, after dropping to fifth at the start and then making a one-stop strategy work with Piastri on two. "It's going to be a good and tough battle probably until the end. It takes a lot out of you trying to focus so much for every single session, race, everything. So, it's going be a long second half of the season, I'm sure," he said. "There are those things I need to improve on and want to improve on. I'm not giving myself the best opportunities. Even though the results have looked great, I'm not making my life very easy for myself at the minute. "So if I can work on those things, then I'll be in a better place." McLaren are only the second team to chalk up 200 grand prix wins since the world championship started in 1950. Ferrari, yet to win this season, are on 248. Mercedes, next after McLaren, have 130. (Reporting by Alan Baldwin, editing by Christian Radnedge)
The Star
3 hours ago
- The Star
A leap backwards
BURSA Malaysia's third market, Leading Entrepreneur Accelerator Platform (LEAP), has been designed to fail from day one. The irony is that LEAP Market rules and requirements are the very reasons why investors and businesses have slowly distanced themselves in recent years.
New Straits Times
4 hours ago
- New Straits Times
Norris wins Hungarian Grand Prix in another McLaren 1-2
BUDAPEST: Lando Norris fended off teammate Oscar Piastri to win the Hungarian Grand Prix on Sunday and maintain McLaren's relentless march through the season. Mercedes' George Russell took third as McLaren celebrated their 200th F1 win over half a century since their first and fourth consecutive 1-2 this year. Norris, on a one-stop strategy, held off a charging Piastri on fresher tyres to take the chequered flag by only seven tenths of a second. Norris moved to within nine points of Piastri in the drivers' championship ahead of F1's mid-season break. "I'm dead, it was tough!" said Norris. "I wasn't planning the one-stop strategy. "It was tough in the final stint with Oscar catching I was pushing flat out you know so my voice has gone a little bit. "It feels good and rewarding a little more because of that but a good result today." "I pushed as hard as I could, looking forward to a few weeks off," said Piastri. "I saw Lando going for a one (stop) so I knew I was going to have to overtake on track, which is easier said then done around here" added the Australian about a circuit dubbed 'Monaco without the walls' for the lack of overtaking opportunities. "Everyone's going to sleep well tonight, great way to go into the summer break. The drivers were awesome," said McLaren CEO Zak Brown. Polesitter Charles Leclerc was furious with his Ferrari team's strategy as he came in fourth leaving the Scuderia still waiting for their first win of the season. Fernando Alonso, nursing a bad back, was right in the thick of things to finish fifth for Aston Martin, ahead of Gabriel Bortoleto (Sauber), Lance Stroll in the other Aston, and Liam Lawson (Racing Bulls). Max Verstappen, in his 200th drive for Red Bull, had to settle for ninth with Kimi Antonelli rounding out the top 10 as the man he replaced at Mercedes, Lewis Hamilton, could only manage 12th in the second Ferrari.--AFP
