PROPERTY and hospitality-centric Meta Bright Group Bhd (formerly Eastland Equity Bhd) has sealed a strategic partnership with Tunas Manja Sdn Bhd (TMG) which is a leading grocery and retail operator with a network of over 100 stores nationwide.
Formalised through a memorandum of understanding (MOU) inked on May 26, the partnership focuses on the installation of rooftop solar photovoltaic (PV) systems at TMG-owned, leased and operated buildings under the Net Energy Metering (NEM) 3.0 Programme.
The programme allows businesses to generate their own electricity from solar power and offset their energy consumption from the grid, resulting in cost savings and reduced reliance on fossil fuels.
The collaboration also aims to explore energy efficiency (EE) initiatives across TMG’s extensive property portfolio while enhancing operational sustainability while reducing energy costs.
Meta Bright will take the lead in developing, designing, financing, installing and maintaining the PV systems for TMG’s properties.
The first project which will commence at the Tunas Manja Mart in Wisma Air Putih, Kuantan shall pave the way for subsequent installations across TMG’s network of stores.
“Our comprehensive solutions in this journey towards greater sustainability will help TMG reduce its environmental impact, enhance its operational efficiency and contribute to its bottom line,” revealed Meta Bright’s executive director (corporate and strategic planning) Derek Phang Kiew Lim.
“This initiative further reflects our shared commitment to ESG (environment, social and governance) principles and highlights Meta Bright’s growing role in Malaysia’s energy transition.”
As it is, the collaboration aligns seamlessly with Malaysia’s broader energy transition goals as highlighted in the recent Budget 2025 initiatives.
With RM300 mil allocated to the National Energy Transition Facility and the expansion of renewable energy (RE) projects like the Large-Scale Solar (LSS) programme, partnerships of this nature are pivotal in advancing sustainable energy adoption.
“By combining our expertise in RE with TMG’s extensive network, we are creating a blueprint for a greener and more energy-efficient future for businesses in Malaysia,” added Phang.
At the close of today’s (Nov 28) trading, Meta Bright was unchanged at 13.5 sen with 41,300 shares traded, thus valuing the company at RM342 mil. – Nov 28, 2024
