Meta Bright, ChargeHere formalise EV charging joint venture

The Sun

a day ago

PETALING JAYA: Diversified energy conglomerate Meta Bright Group Bhd's wholly owned subsidiary Meta Bright Energy Sdn Bhd has formalised a joint venture (JV) with ChargeHere EV Solution Sdn Bhd, a leading electric vehicle (EV) charging point operator in Malaysia.
The JV aims to expand the group's footprint in Malaysia's rapidly growing EV charging infrastructure market.
The partners will incorporate a JV company – Meta Bright Chargesini Sdn Bhd – dedicated to developing, installing and operating EV charging infrastructure across Malaysia, focusing on malls, hotels, residential and commercial areas.
Meta Bright Energy will hold a 51% stake while ChargeHere will hold the remaining 49%.
Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said the JV with ChargeHere significantly expands the company's capabilities within the renewable energy sector, particularly in EV infrastructure.
'It represents an essential milestone for Meta Bright, aligning closely with our ESG goals and strategic focus on creating sustainable, recurring revenue streams,' he said in a statement.
ChargeHere, operating under the ChargeSini brand, currently manages Malaysia's largest network of EV charging points with 935 charging stations across 300 locations, serving more than 32,000 active users.
The collaboration enables Meta Bright to leverage ChargeHere's established technical capabilities and operational experience to advance the group's presence in the growing EV infrastructure sector.
Through the initiative, Meta Bright aims to capitalise on the government's National Energy Transition Roadmap (NETR), which outlines the strategic expansion of renewable energy and sustainable infrastructure nationwide, including the establishment of 10,000 EV charging stations by 2025.
Both parties have identified several urgent and approved projects to launch under the JV, with key locations in Johor, Penang and Selangor.
Additionally, the partnership is already actively planning subsequent stages of expansion, with an extensive pipeline of upcoming projects that include notable sites across Kuala Lumpur, Pahang and Malacca, among others.
The sites range from prominent hotels and commercial buildings to large residential condominiums.
'Our immediate and planned installations will substantially broaden our operational footprint in key urban areas, supporting national goals and meeting rising consumer demand for accessible EV charging solutions,' Phang said.
The joint venture with ChargeHere significantly enhances the group's renewable energy and energy efficiency portfolio, reinforcing its commitment to environmental sustainability and innovative energy solutions.
In addition to the joint venture, Meta Bright also announced the disposal of its wholly owned Australian subsidiary, Meta Bright Australia Pty Ltd, for RM25.37 million.
The decision comes as part of the group's broader risk management strategy to mitigate exposure to cross-border operational risks, including geopolitical uncertainties, foreign exchange volatility and global economic conditions.
'The disposal of our Australian subsidiary allows us to redeploy resources towards our core operations in Malaysia, ensuring sustained long-term growth and shareholder value. The proceeds will also help us significantly mitigate the cross-border business amidst the current geopolitical environment, reduce our bank borrowings, and enhance our financial resilience,' Phang said.