Meta Bright collaborates with ChargeHere EV solution, eyeing expansion into EV charging infrastructure
KUALA LUMPUR: Meta Bright Group Bhd, through its 55%-owned subsidiary Meta Bright Solutions Sdn Bhd (MBS)signed a memorandum of understanding (MoU) with ChargeHere EV Solution Sdn Bhd, Malaysia's leading electric vehicle (EV) charging point operator (CPO), to explore collaboration opportunities within the rapidly growing EV ecosystem.
This partnership underscores Meta Bright's commitment to expanding its energy-related businesses, specifically within the burgeoning EV infrastructure segment, in alignment with its environmental, social, and governance (ESG) goals.
The MoU sets the stage for both parties to evaluate commercial and strategic alignments jointly and to leverage their combined expertise in energy and EV solutions.
Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said this MoU marks a significant step forward as the company diversifies into Malaysia's EV charging market, which is experiencing exponential growth.
'Partnering with ChargeHere, a recognised market leader with extensive operational reach, provides us with a solid foundation to establish significant recurring revenue streams potentially,' he said.
ChargeHere, operating under the ChargeSini brand, has a prominent market presence with 935 EV charging points across 300 stations nationwide.
Currently, 734 points are operational and approved by the Energy Commission Malaysia.
The company serves over 32,000 active users and notably has the largest footprint of EV charging stations in malls, hotels, and condominiums across Malaysia.
Malaysia's EV market has witnessed substantial momentum, driven by government incentives, sustainability initiatives, and increasing adoption of electric vehicles.
According to industry reports, the country aims to establish 10,000 EV charging stations by 2025, significantly upscaling the current infrastructure.
This proactive push positions the EV charging industry as one of Malaysia's fastest-growing sectors, presenting lucrative business opportunities for companies such as Meta Bright.
With this strategic collaboration, Meta Bright aims to capitalise on ChargeHere's extensive market presence and technical capabilities, ensuring effective entry into the EV charging space.
Successful implementation of EV charging infrastructure can provide stable, long-term recurring revenue through consistent electricity sales and associated services, reinforcing Meta Bright's revenue model.
'We believe our collaboration with ChargeHere will accelerate our ESG objectives and drive sustainable, long-term profitability.
'This partnership can potentially open multiple avenues for us, including technology sharing, project development, and market penetration within the EV infrastructure space,' Derek added.
Meta Bright and ChargeHere will jointly conduct preliminary assessments, exchange information, and identify potential projects to establish a concrete partnership structure.
This initiative represents Meta Bright's ongoing commitment to expanding its portfolio through strategic partnerships and innovative, sustainable business solutions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
16 hours ago
- The Sun
Meta Bright clinches maiden energy efficiency zero capex contracts from TMG Mart
PETALING JAYA: Main Market-listed diversified conglomerate Meta Bright Group Bhd's wholly owned subsidiary FBO Land (Serendah) Sdn Bhd (FLSSB) has secured maiden energy efficiency zero capex contracts from TMG Mart Sdn Bhd, a grocery and supermarket operator under the Tunas Manja Group. The contracts involve implementing an energy efficiency system – Demand Control Drive (DCD) – at two TMG Mart locations TMG Mall Bandar Indera Mahkota and TMG Mall Tanjung Lumpur in Kuantan, Pahang. This marks a significant milestone for Meta Bright, representing its inaugural self-developed energy efficiency contracts following its memorandum of understanding with Tunas Manja Sdn Bhd signed in November 2024. Under the terms of the agreements, FLSSB will develop, design, finance, install, commission, operate and maintain the DCD systems, which optimise electrical consumption in heating, ventilation and air conditioning systems, pumps and compressors. The energy efficiency zero capex initiative is structured under an energy performance contract (EPC) model, offering TMG Mart significant energy cost savings without upfront capital investment. Savings generated from the system will be shared with 80% accruing to FLSSB and 20% to TMG Mart over a 12-year period. Meta Bright corporate and strategic planning executive director Derek Phang Kiew Lim said, 'Winning these contracts marks a meaningful achievement for Meta Bright, as they represent our very first self-secured EE projects following the strategic partnership we established with Tunas Manja Group last year. These small but significant contracts set an important precedent for our future growth in the energy efficiency space, particularly among supermarket chains and retail businesses.' TMG Mart, established in 1986, is a grocery retailer in Malaysia, operates over 100 outlets nationwide. 'With this initial success, we are confident in replicating our EE solutions across TMG Mart's broader network and other supermarket chains, positioning Meta Bright as a competitive provider of innovative, cost-effective energy efficiency solutions,' Phang said . The Energy Efficiency Zero Capex projects are anticipated to positively contribute to Meta Bright's earnings over the 12-year tenure, strengthening its recurring revenue base. The group remains strategically positioned to capitalise on Malaysia's growing demand for sustainable energy solutions. 'We view these contracts as stepping stones that solidify our capabilities and reputation in the energy efficiency sector. Our performance and track record from these initial projects will serve as strong references to secure larger opportunities in the future,' Phang concluded.
Focus Malaysia
2 days ago
- Focus Malaysia
Meta Bright secures debut energy efficiency deals with TMG Mart, eyeing broader retail expansion
MAIN Market-listed diversified conglomerate Meta Bright Group Bhd (previously Eastland Equity Bhd) has secured its maiden Energy Efficiency (EE) Zero Capex contracts from TMG Mart Sdn Bhd, a prominent grocery and supermarket operator under the Tunas Manja Group. These contracts sealed by the group's wholly-owned subsidiary FBO Land (Serendah) Sdn Bhd entail implementation of the Demand Control Drive (DCD) energy efficiency system at two key TMG Mart locations in Pahang, namely TMG Mall Bandar Indera Mahkota and TMG Mall Tanjung Lumpur in Kuantan. This marks a significant milestone for Meta Bright following its inaugural self-developed EE contracts following the inking of a strategic memorandum of understanding (MOU) with Tunas Manja Sdn Bhd in November 2024. Under the terms of the agreements, FBO Land will develop, design, finance, install, commission, operate and maintain the DCD systems which optimise electrical consumption in heating, ventilation and air conditioning (HVAC) systems, pumps, and compressors. The EE Zero Capex initiative is structured under an Energy Performance Contract (EPC) model which offers TMG Mart significant energy cost savings without upfront capital investment. Savings generated from the system will be shared with 80% accruing to FBO Land and 20% to TMG Mart over a 12-year period. 'These small but significant contracts set an important precedent for our future growth in the energy efficiency space, particularly among supermarket chains and retail businesses,' envisages Meta Bright's executive director (corporate and strategic planning) Derek Phang Kiew Lim. 'Moreover, these contracts represent the successful materialisation of collaboration from our MOU announced on Nov 27, 2024.' Established in 1986, TMG Mart is a prominent grocery retailer in Malaysia with over 100 outlets nationwide. Therefore, the two contracts signify Meta Bright's strategic entry into the energy efficiency sector by leveraging its diversified portfolio to contribute to sustainable development. 'With this initial success, we are confident in replicating our EE solutions across TMG Mart's broader network and other supermarket chains by positioning Meta Bright as a competitive provider of innovative, cost-effective energy efficiency solutions,' revealed Phang. More broadly, the EE Zero Capex projects are anticipated to positively contribute to Meta Bright's earnings over the 12-year tenure while strengthening its recurring revenue base. The group remains strategically positioned to capitalise on Malaysia's growing demand for sustainable energy solutions. 'We view these contracts as stepping stones that solidify our capabilities and reputation in the energy efficiency sector. Our performance and track record from these initial projects will serve as strong references to secure larger opportunities in the future,' added Phang. At the close of yesterday's (June 6) market trading, Meta Bright was unchanged at 12.5 sen with 174,300 shares traded, thus valuing the company at RM316 mil. – June 7, 2025
Focus Malaysia
3 days ago
- Focus Malaysia
Six in 10 professionals in Malaysia believe four-day workweeks would boost productivity
RECRUITMENT and workforce solutions specialist Hays has recently polled working professionals on LinkedIn across five locations in Asia including Malaysia, China, Hong Kong SAR, Japan and Singapore where respondents were asked to weigh in on their sense of productivity in four-day workweek. The findings reveal strong support for the model in Malaysia, where 65% of respondents believe they would be more focused if required to complete their tasks within a four-day timeframe, followed by Japan (54%) and Singapore (49%). China led the region, with 73% of professionals expressing confidence in their ability to maintain focus and productivity under a shorter workweek model. 'The appeal of a four-day workweek continues to grow among professionals who value greater efficiency and focus in their roles,' said Natasha Ishak, Regional Director at Hays Malaysia. 'This is particularly relevant in the Malaysian context, where 35% of professionals polled in the Hays Asia Salary Guide reported dissatisfaction with their work-life balance.' Resistance to the concept was minimal, with only four per cent of respondents expressing concern that the workload would be too heavy for a shortened week. Meanwhile, seven per cent indicated that the change would have little impact due to already having flexible schedules, and 24% said their performance would depend on the nature of their role. Shorter workweeks linked to greater job satisfaction and productivity The concept of offering professionals an additional day of rest within the standard workweek continues to gain traction globally. A pilot study in the United Kingdom demonstrated that participants in a reduced workweek reported fewer absences and lower turnover, outcomes closely linked to improved work-life balance. 'Promoting work-life balance has become a key factor in attracting and retaining talent in Malaysia. Today, 39% of professionals consider these policies when seeking new opportunities, and 42% cite them as a reason for staying with their current employer,' said Natasha. Beyond boosting employee productivity, shorter workweeks also help reduce operating costs, allowing organisations committed to remaining closed one extra day a week to save on utilities and other overheads. These efficiencies contribute meaningfully to Environment, Social and Governance (ESG) goals by lowering carbon emissions, supporting employee wellbeing, and reinforcing a company's commitment to sustainable and socially responsible business practices. Uprooting a tradition of work culture Despite the growing interest in shorter workweeks, it remains unclear how many organisations have formally adopted the four-day model. The traditional five-day workweek continues to be the global norm, but signs of change are emerging. 'While the four-day workweek is not yet common in Malaysia, there has been notable progress in adopting flexible work arrangements,' noted Natasha. 'Over 50% of organisations surveyed provide remote work opportunities, demonstrating a strategic focus on enhancing employee wellbeing and improving retention.' According to Natasha, as more data emerges on the advantages of four-day workweeks, the focus is shifting towards how organisations can implement this model effectively and sustainably. 'The challenge lies in crafting a clear strategy that enables this transition while staying competitive in a rapidly evolving job market,' she added. ‒ June 5, 2025
