Latest news with #DerekPhangKiewLim
The Sun
2 hours ago
- Business
- 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
a day ago
- Business
- 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
The Sun
2 days ago
- Business
- The Sun
Meta Bright secures maiden Zero Capex Energy Efficiency contracts with TMG Mart
KUALA LUMPUR: Main market-listed diversified conglomerate Meta Bright Group Bhd's wholly owned subsidiary, FBO Land (Serendah) Sdn 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 involve implementing an energy efficiency system, such as the demand control drive (DCD) system, at two key TMG Mart locations, namely TMG Mall Bandar Indera Mahkota and TMG Mall Tanjung Lumpur in Kuantan, Pahang. This is an important milestone for Meta Bright, representing its inaugural self-developed EE contracts following its strategic memorandum of understanding (MoU) with Tunas Manja signed 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 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 FBO Land and 20% to TMG Mart over a 12-year period. Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said winning these contracts marks a meaningful achievement for the company, as they represent its very first self-secured EE projects following the strategic partnership 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,' he said in a statement. Further, these contracts represent the successful materialisation of the collaboration from the mou as announced on November 24, 2024. TMG Mart, established in 1986, is a prominent grocery retailer in Malaysia, operating over 100 outlets nationwide. This contract signifies Meta Bright's strategic entry into the energy efficiency sector, 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, positioning Meta Bright as a competitive provider of innovative, cost-effective energy efficiency solutions,' Phang added. 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 said.
The Sun
01-06-2025
- Business
- The Sun
Meta Bright's nine-month revenue leaps 222% year-on-year, propelled by building materials segment
PETALING JAYA: Meta Bright Group Bhd, a Main Market-listed diversified conglomerate, reported a strong financial performance for the nine months ended March 31, 2025 (9M25), driven by significant contributions from its building materials, leasing, hospitality and energy-related segments. Revenue leaped 222% year-on-year (y-o-y) to RM175 million from RM54.36 million in the corresponding period of the previous financial year. The remarkable growth was largely driven by the building materials segment, which recorded revenue of RM141.62 million, supported by the continued strong performance of Expogaya Sdn Bhd, which Metra Bright acquired in January 2024. Profit attributable to owners of the company (Patami) surged 145% to RM6.95 million from RM2.83 million a year earlier, demonstrating the group's effective diversification strategy and operational efficiencies. The group achieved a 57% increase in revenue to RM53.42 million in Q3'25 compared to RM33.95 million in Q3'24. Meta Bright's robust financial performance was complemented by strong operational cash flows, generating RM14.47 million from operating activities for the nine-month period, compared to a net operating cash flow of RM10.66 million during the same period last year. This positive cash flow demonstrates the group's enhanced cash-generating capabilities and operational strength. Corporate and strategic planning executive director Derek Phang Kiew Lim said, 'Our solid performance in the first nine months reflects the effectiveness of our diversification and growth strategies implemented over the past year. Continued contributions from the existing business segments, combined with disciplined financial management and operational efficiencies, position us well to achieve sustained growth and deliver long-term value to our shareholders.' He added they are particularly encouraged by the sustained improvement in their operating cash flows, which provides them with greater flexibility to pursue strategic opportunities and investments. Despite the challenging market environment, Phang said, their diversified business model continues to deliver stable growth and enhance shareholder value. Looking ahead, Meta Bright remains committed to its growth trajectory by actively identifying new opportunities in property development, energy-related businesses, and infrastructure projects, particularly leveraging the continued infrastructure boom in Sabah. The group intends to enhance its hospitality segment through ongoing improvements at Renai Hotel and other facilities. However, Phang said they will be cautious in light of the cross-border risks and uncertainties surrounding geopolitical factors, ensuring that they maintain a robust risk management approach and strategic flexibility to navigate any potential headwinds effectively. 'We remain optimistic about our business prospects for the remainder of FY2025. With a healthy order book, solid financial fundamentals, and strategic initiatives in place, we believe Meta Bright is well-positioned to sustain its growth momentum,' he added.
The Sun
30-05-2025
- Business
- The Sun
Meta Bright sees 145% profit growth, fueled by diversified segments
KUALA LUMPUR: Meta Bright Group Bhd, a Bursa Malaysia main market-listed diversified conglomerate, posted a substantial increase in revenue of 222% year-on-year (YoY) to RM175.0 million for the nine-month (9M) period ended March 31, 2025 (FY25), compared to RM54.36 million recorded in the same period of FY24. The revenue increase was driven by significant contributions from its building materials, leasing, hospitality, and energy-related segments. Further, the growth was largely driven by the building materials segment, which recorded revenue of RM141.62 million, supported by the continued strong performance of Expogaya Sdn Bhd, acquired in January 2024. Profit attributable to owners of the company (Patami) surged 145% YoY to RM6.95 million from RM2.83 million a year earlier, demonstrating the group's effective diversification strategy and operational efficiencies. On a quarterly basis, the group achieved a 57% increase in revenue to RM53.42 million in Q3 FY25 compared to RM33.95 million in Q3 FY24. Meta Bright's robust financial performance was complemented by strong operational cash flows, generating RM14.47 million from operating activities for the nine-month period, compared to a net operating cash flow of RM10.66 million during the same period last year. This positive cash flow demonstrates the group's enhanced cash-generating capabilities and operational strength. Commenting on the results, Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said the company's performance in the first nine months reflects the effectiveness of the diversification and growth strategies implemented over the past year. 'Continued contributions from the existing business segments, combined with disciplined financial management and operational efficiencies, position us well to achieve sustained growth and deliver long-term value to our shareholders. 'We are particularly encouraged by the sustained improvement in our operating cash flows, which provides us with greater flexibility to pursue strategic opportunities and investments. 'Despite the challenging market environment, our diversified business model continues to deliver stable growth and enhance shareholder value,' he said in a statement. Looking ahead, Meta Bright remains committed to its growth trajectory by actively identifying new opportunities in property development, energy-related businesses, and infrastructure projects, particularly leveraging the continued infrastructure boom in Sabah. The group also intends to enhance its hospitality segment through ongoing improvements at Renai Hotel Kota Bharu in Kelantan and other facilities. 'However, we will be cautious in light of the cross-border risks and uncertainties surrounding geopolitical factors, ensuring that we maintain a robust risk management approach and strategic flexibility to navigate any potential headwinds effectively. 'We remain optimistic about our business prospects for the remainder of FY25. With a healthy order book, solid financial fundamentals, and strategic initiatives in place, we believe Meta Bright is well-positioned to sustain its growth momentum,' Phang said.
