PROPERTY and hospitality-centric Meta Bright Group Bhd (formerly Eastland Equity Bhd) is expanding its presence in the renewable energy (RE) sector through a strategic joint venture to provide Total Energy Solutions.
In conjunction with the said expansion, the group has partnered with United Success Holding Pte Ltd and Yang Lei to establish Meta Bright Solutions Sdn Bhd to develop and operate battery energy storage systems (BESS), EV charging infrastructure and energy efficiency solutions (EE) in Malaysia and potentially across Southeast Asia.
Meta Bright Energy Sdn Bhd, a wholly-owned subsidiary of Meta Bright Group will hold a 55% controlling stake in joint venture company (JVC) with United Success and Yang Lei owning 10% and 35% respectively.
This initiative aligns with Malaysia’s National Energy Transition Roadmap (NETR) which seeks to increase RE’s gross domestic product (GDP) contribution to RM220 bil by 2050 while reducing carbon emissions in the energy sector by 32%.
As Malaysia is accelerating grid modernisation, energy efficiency initiatives and RE adoption with the government’s RM300 mil allocations under Budget 2025 for RE, Meta Bright Group is well-positioned to capitalise on the growing demand for BESS EV charging infrastructure and EE solutions.
In this regard, the JVC will actively contribute to the expansion of Malaysia’s EV charging infrastructure, thus supporting the increasing adoption of electric vehicles nationwide.
It will develop and supply high-speed, smart charging station equipment while ensuring a seamless and energy-efficient charging network. The integration of BESS with charging stations will further optimise energy storage and promote a more sustainable energy ecosystem.
“This joint venture is expected to help contribute the development for Malaysia’s energy landscape,” commented Meta Bright Group’s executive director (corporate and strategic planning) Derek Phang Kiew Lim.
“We are not just building BESS and EV charging infrastructure but a more sustainable and resilient energy future for the nation.”
Added Phang: “With the rising demand for energy storage and EV charging infrastructure, we see BESS as a crucial enabler of a more stable and efficient energy ecosystem.
“We aim to develop scalable, high-performance BESS solutions which is integrated with advanced EV charging stations, hence positioning Meta Bright Group at the forefront of Malaysia’s clean energy transition.”
At the close of today’s (Feb 18) market trading, Meta Bright Group was unchanged at 12 sen with 70,500 shares traded, thus valuing the company at RM304 mil. – Feb 18, 2025
