a day ago
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
