Meta Bright fast-tracks EV expansion, secures prime charging sites in first major move for ChargeHere JV
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
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