Latest news with #NETR
The Sun
a day ago
- Automotive
- The Sun
Meta Bright speeds up EV growth through tie-up with ChargeHere
KUALA LUMPUR: Meta Bright Group Bhd's 51%-owned subsidiary Meta Bright ChargeSini Sdn Bhd has signed novation agreements with ChargeHere EV Solution Sdn Bhd – effectively assuming full rights, operations, and revenue streams for four primary electric vehicle (EV) charging station projects. This marks a significant step forward in Meta Bright's foray into the EV charging sector. The strategic novation agreement transfers operational control and commercial benefits for the EV charging stations located at high-visibility properties, enabling the group to rapidly scale its presence in line with Malaysia's National Energy Transition Roadmap (NETR). ChargeHere, operating under the ChargeSini brand, is Malaysia's leading charging point operator with a network of 935 EV charging points nationwide. Through the novation, Meta Bright ChargeSini will take over complete management responsibilities including maintenance, operations, and revenue collection, building upon the foundation laid by its joint venture partner. The transaction not only brings immediate commercial returns through service income and profit-sharing models but also realises the full intent of the joint venture announced earlier in July. It accelerates Meta Bright's ability to replicate and roll out similar successful projects across Malaysia. Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim described the novation as a key tactical move that significantly shortens time-to-market in Malaysia's competitive EV landscape. He said that instead of starting from the ground up, the company has (through this arrangement), instantly secured EV charging stations in high-traffic, strategic locations. 'This move reinforces Meta Bright's commitment to expanding its renewable energy business and firmly establishes the group as an active and credible player in the country's green mobility transition. 'Rather than a tentative entry, the company is accelerating its role in the sector, strengthening its base of recurring income and setting the stage for future growth,' he said. Phang added that the novation represents a strategic evolution from the joint venture agreement with ChargeHere, further solidifying Meta Bright's ambitions in the charging point operator market. Building on this momentum, Meta Bright is currently in advanced negotiations to secure the next phase of EV charging sites in key strategic locations. Phang noted that the group's expanding operational track record supports a disciplined growth strategy and underpins its dual focus on enlarging its renewable energy portfolio while contributing meaningfully to Malaysia's green mobility agenda.
Focus Malaysia
2 days ago
- Automotive
- Focus Malaysia
Meta Bright fast-tracks EV expansion, secures prime charging sites in first major move for ChargeHere JV
META Bright Group Bhd, a Main Market-listed diversified Energy conglomerate, has unveiled a significant acceleration for its venture into the electric vehicle (EV) charging sector. Its 51%-owned subsidiary, Meta Bright ChargeSini Sdn Bhd (MBC), has executed novation agreements with ChargeHere EV Solution Sdn Bhd, hence effectively taking over the full rights, operations and revenue streams of four key EV charging station projects. The strategic novation agreement transfers operational control and revenue rights for EV charging stations at key properties. It therefore fast-tracks Meta Bright's expansion by leveraging the groundwork laid by its joint venture partner ChargeHere which aligns directly with Malaysia's National Energy Transition Roadmap (NETR) ambitions. Chargehere which manages and operates the operation of EV charging infrastructure and solutions via the 'ChargeSini' brand name is Malaysia's leading charging point operator (CPO). It owns 935 EV charging points across Malaysia. By assuming full control, MBC will manage the entire operational scope from maintenance to accruing all commercial benefits. This transaction crystallises the objectives of the JV announced earlier in July by immediately unlocking recurring revenue for the group through profit-sharing models and service income. The novation arrangement is poised to enable Meta Bright to further expand and replicate similar successful projects across Malaysia. 'This novation is a key tactical move that significantly shortens our time-to-market in the competitive EV space,' commented Meta Bright's executive director (corporate and strategic planning) Derek Phang Kiew Lim. 'Rather than doing it from scratch via the novation arrangement with our JV partner, Chargehere, we have instantly secured EV chargers in high-visibility, strategic locations.' This reinforces Meta Bright's commitment to expanding the group's renewable energy business while immediately positioning the group as a credible and active player in Malaysia's green mobility transition. 'We're not just entering the market but we're accelerating within, thus enhancing our recurring income base and positioning ourselves strongly for future growth,' enthused Phang. 'In addition, the novation marks a strategic progression from the JV agreement we entered with Chargehere earlier, and could further strengthen our position in the CPO market'. At the close of today's (July 21) trading, Meta Bright was unchanged at 12 sen with 113,500 shares traded, thus valuing the company at RM326 mil. – July 21, 2025
The Sun
2 days ago
- Automotive
- The Sun
Meta Bright fast-tracks EV expansion, securing prime charging sites from ChargeHere JV
KUALA LUMPUR: Meta Bright Group Bhd's 51%-owned subsidiary, Meta Bright ChargeSini Sdn Bhd, has signed novation agreements with ChargeHere EV Solution Sdn Bhd, effectively assuming full rights, operations, and revenue streams for four primary electric vehicle (EV) charging station projects. This marks a significant step forward in Meta Bright's foray into the EV charging sector. The strategic novation agreement transfers operational control and commercial benefits for the EV charging stations located at high-visibility properties, enabling the group to rapidly scale its presence in line with Malaysia's National Energy Transition Roadmap (NETR). ChargeHere, operating under the ChargeSini brand, is Malaysia's leading charging point operator, with a network of 935 EV charging points nationwide. Through the novation, Meta Bright ChargeSini will take over complete management responsibilities, including maintenance, operations, and revenue collection, building upon the foundation laid by its joint venture partner. The transaction not only brings immediate commercial returns through service income and profit-sharing models but also realises the full intent of the joint venture announced earlier in July. It accelerates Meta Bright's ability to replicate and roll out similar successful projects across Malaysia. Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim described the novation as a key tactical move that significantly shortens time-to-market in Malaysia's competitive EV landscape. He said that instead of starting from the ground up, the company has, through this arrangement, instantly secured EV charging stations in high-traffic, strategic locations. 'This move reinforces Meta Bright's commitment to expanding its renewable energy business and firmly establishes the group as an active and credible player in the country's green mobility transition. 'Rather than a tentative entry, the company is accelerating its role in the sector, strengthening its base of recurring income and setting the stage for future growth,' he said. Phang added that the novation represents a strategic evolution from the joint venture agreement with ChargeHere, further solidifying Meta Bright's ambitions in the charging point operator market. Building on this momentum, Meta Bright is currently in advanced negotiations to secure the next phase of EV charging sites in key strategic locations. Phang noted that the group's expanding operational track record supports a disciplined growth strategy and underpins its dual focus on enlarging its renewable energy portfolio while contributing meaningfully to Malaysia's green mobility agenda.
Barnama
6 days ago
- Business
- Barnama
13MP Expected To Focus On Green Technology, Digital Transformation, Social Protection
GENERAL By Shaidatul Suhana Ros KUALA LUMPUR, July 17 (Bernama) -- The 13th Malaysia Plan (13MP) is expected to focus on green digital transformation, modernisation of high-tech industries and the empowerment of artificial intelligence (AI) as part of long-term strategies to build economic resilience and sustainable development. An expert in Finance and Entrepreneurship, Faculty of Entrepreneurship and Business, Universiti Malaysia Kelantan (UMK), Professor Datuk Dr Nik Maheran Nik Muhammad said she anticipates the 13MP to be aligned with key policy documents such as the MADANI Economy framework, the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan (NIMP) 2030. "The 13MP will likely emphasise green technology, economic digitalisation, development of skilled human capital, rural community well-being and efforts to bridge socio-economic disparities between regions,' she told Bernama today. She added that infrastructure development will be a critical pillar, with expected initiatives including the expansion of green transport networks, renewable energy grids and high-speed internet in rural areas. In the education sector, she foresees a continued focus on Technical and Vocational Education and Training (TVET), digital education and curriculum development for future-ready skills, For the health sector, she predicts that emphasis will be placed on preventive healthcare, telemedicine and the digitisation of national health records to improve service delivery and access across the population. "Security will be enhanced through digital transformation, including the use of drones and AI. In addition, it is timely for the government to consider introducing a people's insurance scheme, a form of microinsurance scheme for the B40 group, gig workers and micro entrepreneurs as part of a more inclusive social protection framework," she said. Commenting on global challenges such as the 25 per cent tariff imposed by the United States on Malaysian products, she said the country could minimise the impact on the economy by strengthening innovation, automation and the production of value-added green products as well as expanding the market and upgrading local industries to ensure long-term economic resilience.
Barnama
16-07-2025
- Business
- Barnama
- How Tariffs And Taxes Could Derail Malaysia's Climate Ambitions
16/07/2025 03:45 PM Opinions on topical issues from thought leaders, columnists and editors. By : Mogesh Sababathy At a time when Malaysia must accelerate its climate transition, can we afford foreign and domestic policy shocks that destabilise our climate finance and green technology agenda? The recent announcement by U.S. President Donald Trump to impose a sweeping 25% tariff on 'any and all Malaysian products' starting Aug 1, 2025, has jolted Malaysia's economy and, potentially, its entire energy transition trajectory. This move not only threatens our US$80 billion annual trade relationship with the United States, but risks undercutting the financial and industrial scaffolding needed to meet our net-zero ambitions by 2050. For a country that has pledged a 45% reduction in carbon intensity by 2030, this is not just an economic setback but also a stress test of our climate governance, resilience and readiness. The potential impact is immense. Sectors like electrical and electronics (E&E), which comprise nearly 40% of our exports, stand particularly exposed. With the Green Technology Master Plan relying heavily on E&E to drive decarbonised manufacturing, this development places our climate-linked industrial strategy in jeopardy. At the same time, Malaysia's expanded Sales and Service Tax (SST) which came into effect July 1, 2025 adds pressure from within. Over 4,800 previously exempt items, including industrial equipment and low-emission machinery, are now taxed at 8%, up from the previous 6%. While the SST expansion is projected to yield RM3 billion in additional revenue, its timing couldn't be worse. FMM warning The Federation of Malaysian Manufacturers (FMM) warns that these cascading tax burdens will inflate costs, shrink margins, and deter future investment especially in capital-intensive green infrastructure. The National Energy Transition Roadmap (NETR), launched in 2023, sets ambitious targets: increasing renewable energy in the national mix to 70% by 2050, developing CCUS (Carbon Capture, Utilisation & Storage), and attracting RM435 billion in investment. But these goals rely on a strong private sector, foreign direct investment, and investor confidence. Reduced export earnings due to tariffs, paired with higher domestic operating costs from the SST, could stall clean energy adoption, battery storage scaling, and smart grid investments. Small and medium green-tech enterprises already navigating tight financing margins may pivot to survival mode, postponing R&D or abandoning green upgrades entirely. This fiscal constriction directly threatens the creation of 23,000 green jobs forecast under NETR, and it risks reducing Malaysia's contribution to global clean energy supply chains at a time when demand is rising. On the other hand, Malaysia's Voluntary Carbon Market (VCM), launched via the Bursa Carbon Exchange (BCX) in late 2022, was one of Southeast Asia's most promising climate finance innovations. With a projected market value of US$237 million by 2030, it was expected to fund reforestation, conservation, and industrial decarbonisation projects. However, the VCM and the upcoming carbon tax and Emissions Trading Scheme (ETS) under the National Climate Change Bill (RUUPIN) are all sensitive to macroeconomic conditions. Carbon governance mechanisms Historically, economic downturns or trade disruptions often lead governments to delay carbon pricing reforms in the name of economic recovery. Malaysia is no exception. Unless insulated, our carbon governance mechanisms may stall or regress under fiscal and political pressure just when they're needed to drive long-term decarbonisation and attract green capital. Climate change disproportionately affects the poorest and most vulnerable communities in Malaysia from coastal erosion in Sabah to urban flooding in KL. But so too will economic instability. Tariff-related export losses could result in job cuts in key industrial areas, while SST inflation will raise living costs. When people are forced to choose between short-term survival and long-term sustainability, the environment always loses. Without targeted support, our vision of a 'just transition' risks becoming rhetorical. The RUUPIN framework, which emphasises equity and protection for vulnerable populations, must be backed by resilient fiscal policy and progressive social safety nets not sacrificed in budget cuts driven by external shocks. In this regard, what can Malaysia do? Firstly, Malaysia must demand clarity on the tariff scope and seek exclusions for clean technology, solar components, and environmental goods, aligning with WTO environmental exceptions. Next, allocate funds from the new SST intake to fund VCM capacity-building, CCUS pilots, and green job retraining programmes. SST exemptions or rebates for low-emission equipment, energy-efficient machinery, and carbon audit services must also be provided to incentivise clean industrial investments. Also, as the Chair of ASEAN this year, we also have an upper hand in using this moment to lead within ASEAN, pushing for regional carbon border adjustments and green mutual recognition agreements that support decarbonised exports. Lastly, fast-track funding for climate policy education, especially in carbon markets, climate law, and environmental economics, to prepare the next generation of climate experts. In conclusion, economic shocks will come and go. But the climate crisis is permanent and intensifying. As floods grow more frequent, air pollution worsens, and biodiversity collapses, the cost of inaction grows steeper each year. Trade policy and tax policy must serve, not sabotage our climate goals. Malaysia must not retreat from climate ambition in the face of tariffs or taxes. We must instead use these shocks to recalibrate our economic tools, reaffirm our global leadership in climate governance, and build a greener, more resilient Malaysia that doesn't trade short-term relief for long-term collapse. -- BERNAMA Mogesh Sababathy is a Youth Climate Advocate and a National Consultative Panel Member to the Ministry of Natural Resources and Environmental Sustainability of Malaysia. He is also a PhD candidate at Universiti Putra Malaysia (UPM). (The views expressed in this article are those of the author(s) and do not reflect the official policy or position of BERNAMA)
