MAIN Market-listed diversified conglomerate Meta Bright Group Bhd (formerly Eastland Equity Bhd) has inked a memorandum of understanding (MOU) with ChargeHere EV Solution Sdn Bhd, Malaysia’s leading electric vehicle (EV) charging point operator (CPO) to explore opportunities within the rapidly growing EV ecosystem.
Made possible through its 55%-owned subsidiary Meta Bright Solutions Sdn Bhd, the partnership underscores Meta Bright’s commitment to expanding its energy-related businesses within the burgeoning EV infrastructure segment in alignment with its environmental, social and governance (ESG) goals.
Under the MOU, Meta Bright and ChargeHere will jointly conduct preliminary assessments, exchange information and identify potential projects to establish a concrete partnership structure.
ChargeHere which is operating under the ChargeSini brand holds a prominent market presence with 935 EV charging points across 300 stations nationwide.
Currently, 734 points approved by the Energy Commission (ST) are operational, serving over 32,000 active users, and notably holding the largest footprint of EV charging stations in malls, hotels and condominiums across Malaysia.
“This MOU marks an important step forward as we diversify into Malaysia’s EV charging market, a sector experiencing exponential growth,” commented Meta Bright’s executive director (corporate and strategic planning) Derek Phang Kiew Lim.
“Partnering with ChargeHere, a recognised market leader with extensive operational reach, provides us with a solid foundation to potentially establish significant recurring revenue streams.”
To-date, Malaysia’s EV market has witnessed substantial momentum that is driven by government incentives, sustainability initiatives and increasing adoption of electric vehicles.
According to industry reports, Malaysia aims to establish 10,000 EV charging stations by 2025, hence 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.
Successful implementation of EV charging infrastructure can provide stable, long-term recurring revenue through consistent electricity sales and associated services, thus reinforcing Meta Bright’s revenue model.
“We believe our collaboration with ChargeHere will accelerate our ESG objectives while driving sustainable, long-term profitability,” asserted Phang.
“This partnership can potentially open multiple avenues for us, including technology sharing, project development and market penetration within the EV infrastructure space.”
At the close of today’s (May 21) market trading, Meta Bright was unchanged at 12 sen with 121,100 shares traded, thus valuing the company at RM304 mil. – May 21, 2025
