“GOING green” will be the latest buzz phrase for Computer Forms (M) Bhd (CFMB) which is synonymous with the printing and distributing of computer forms, stock forms and other specialised forms.
This comes about as the company inked a strategic partnership today with Bangkok-based Energy Absolute Public Company Ltd (EA) – dubbed the Tesla “giant of Thailand” – to form a JV company for greener mobility solutions to drive more electric vehicle (EV) and renewable energy (RE)-related projects to meet Malaysia’s Net Zero ambition.
The JV company will maximise opportunities in the production and distribution of EVs such as EV-buses, EV-cars, EV-trains, EV-bikes and EV-boats in which Energy Absolute PL has strong resources and proven capabilities in Thailand.
An estimated RM5 bil will eventually be invested in stages into the EV and RE ventures to expedite Malaysia’s energy conversion mandate pegged on COP21 (the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change).
The earmarked ventures include developing energy storage and charging platforms, and producing lithium-ion batteries to support the EV ecosystem on Malaysian shores as well as solar energy and wind power projects.
These investments will be driven by new teams from Malaysia and Thailand who will integrate clean energy and mobility solutions to help Malaysian corporations decarbonise effectively.
“The partnership venture will bring excellent capabilities and know-how through our strong partner Energy Absolute PCL to support CFMB’s diversification plans to drive business growth in the EV and RE sectors,” commented CFMB’s managing director Datuk Wira Justin Lim.
“We are expecting the partnership to yield competitive returns as greening Malaysia’s public transport system is in tandem with the national plan to reduce Malaysia’s carbon footprint.”
Fortune Business Insights expects the EV market size is expected to have a compound annual growth rate (CAGR) of 24.3% to reach a global market size worth US$1.32 tril by 2028.
Research analysts predict the global solar energy system market revenue is expected to grow by a CAGR of 20.1% to reach a value of US$255.3 bil in 2028 while the global wind energy market size is projected to grow by a CAGR of 9.3% from 2020-2027 to generate US$127.2 bil by 2027.
At the close of today’s mid-day trading, CFMB was up 9 sen or 6.62% to RM1.45 with 6.7 million shares traded, thus valuing the company at RM341 mil. – Sept 26, 2022
