Latest news with #ChargeHere
The Sun
7 days ago
- Automotive
- The Sun
Meta Bright, ChargeHere formalise EV charging joint venture
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.
Focus Malaysia
12-07-2025
- Automotive
- Focus Malaysia
Meta Bright seals JVA with ChargeHere to accelerate its energy biz development in Malaysia
MAIN Market-listed diversified energy conglomerate Meta Bright Group Bhd has formalised a strategic joint venture (JV) with Malaysia's leading electric vehicle (EV) charging point operator (CPO) ChargeHere EV Solution Sdn Bhd to significantly tap Malaysia's rapidly growing EV charging infrastructure market. Under the JV entered into by its 100%-owned subsidiary Meta Bright Energy Sdn Bhd, both parties have agreed to incorporate a new joint venture company – Meta Bright Chargesini Sdn Bhd which is dedicated to developing, installing and operating EV charging infrastructure across Malaysia. Eventually Meta Bright Chargesini will target malls, hotels, residential and commercial areas. Meta Bright Energy will hold a controlling stake of 51% in the project with the balance held by ChargeHere. ChargeHere which operates under the 'ChargeSini' brand currently manages Malaysia's largest network of EV charging points with 935 charging stations across 300 locations, serving over 32,000 active users. This 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. 'This strategic JV with ChargeHere significantly expands our capabilities within the renewable energy (RE) sector, particularly in EV infrastructure,' commented Meta Bright's executive director (corporate and strategic planning) Derek Phang Kiew Lim. 'It represents an essential milestone for Meta Bright, aligning closely with our ESG (environmental, social and governance) goals and strategic focus on creating sustainable, recurring revenue streams.' Through this initiative, Phang expects Meta Bright to capitalise on the government's ambitious National Energy Transition Roadmap (NETR) which outlines the strategic expansion of RE and sustainable infrastructure nationwide, including the establishment of 10,000 EV charging stations by 2025. Both parties have immediately identified several urgent and approved projects to launch under this 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 Melaka, among others. These sites range from prominent hotels and commercial buildings to large residential condominiums, thus showing a significant scale of operations set to unfold in the near future. 'Our immediate and planned installations will substantially broaden our operational footprint in key urban areas, hence supporting national goals and meeting rising consumer demand for accessible EV charging solutions,' added Derek. At the close of market trading yesterday (July 11), Meta Bright was unchanged at 12 sen with 2.77 million shares traded, thus valuing the company at RM304 mil. – July 12, 2025
The Star
11-07-2025
- Automotive
- The Star
Meta Bright, ChargeHere team up for EV charging push
KUALA LUMPUR: Meta Bright Group Bhd 's wholly owned subsidiary, Meta Bright Energy Sdn Bhd (MBE), has formed a joint venture with ChargeHere EV Solution Sdn Bhd to expand its presence in Malaysia's growing electric vehicle (EV) charging market. In a statement, the diversified energy group said the partnership brings together MBE's renewable energy capabilities and ChargeHere's role as a leading EV charging point pperator (CPO) in Malaysia to accelerate the rollout of nationwide charging infrastructure. Under the joint venture, both parties will establish a new company, Meta Bright Chargesini Sdn Bhd, which will focus on developing, installing, and operating EV charging infrastructure across Malaysia. The initiative will target locations such as malls, hotels, residential areas, and commercial zones. Meta Bright Energy will hold a controlling 51% stake in the new entity, while ChargeHere will hold the remaining 49%. ChargeHere, operating under the 'ChargeSini' brand, currently manages Malaysia's largest network of EV charging points with 935 charging stations across 300 locations, serving over 32,000 active users. This 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. 'This strategic joint venture with ChargeHere significantly expands our 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,' Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said. Both parties have immediately identified several urgent and approved projects to launch under this 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 Melaka, among others Separately, Meta Bright also announced the disposal of its wholly-owned Australian subsidiary, Meta Bright Australia Pty Ltd (MBA), for RM25.37mil. This 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 Sun
11-07-2025
- Automotive
- The Sun
Meta Bright forms JV with ChargeHere to accelerate EV charging expansion across Malaysia
KUALA LUMPUR: Meta Bright Group Bhd, a main market-listed diversified energy conglomerate, announced that its wholly-owned subsidiary, Meta Bright Energy Sdn Bhd, has formalised a strategic joint venture (JV) with ChargeHere EV Solution Sdn Bhd, a leading electric vehicle (EV) charging point operator (CPO) in Malaysia. This JV aims to significantly expand the group's footprint in Malaysia's rapidly growing EV charging infrastructure market. Under this JV, both parties have agreed to incorporate a new joint venture 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% controlling stake, while ChargeHere will hold the remaining 49%. Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said this strategic joint venture 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 over 32,000 active users. This 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 this initiative, Meta Bright aims to capitalise on the government's ambitious 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 immediately identified several urgent and approved projects to launch under this 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 Melaka, among others. These sites range from prominent hotels and commercial buildings to large residential condominiums, showing a significant scale of operations set to unfold in the near future. '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 added. 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 announcement, Meta Bright also announced the disposal of its wholly-owned Australian subsidiary, Meta Bright Australia Pty Ltd (MBA), for RM25.37 million. This 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.
The Sun
22-05-2025
- Automotive
- The Sun
Meta Bright collaborates with ChargeHere EV solution, eyeing expansion into EV charging infrastructure
KUALA LUMPUR: Meta Bright Group Bhd, through its 55%-owned subsidiary Meta Bright Solutions Sdn Bhd (MBS)signed a memorandum of understanding (MoU) with ChargeHere EV Solution Sdn Bhd, Malaysia's leading electric vehicle (EV) charging point operator (CPO), to explore collaboration opportunities within the rapidly growing EV ecosystem. This partnership underscores Meta Bright's commitment to expanding its energy-related businesses, specifically within the burgeoning EV infrastructure segment, in alignment with its environmental, social, and governance (ESG) goals. The MoU sets the stage for both parties to evaluate commercial and strategic alignments jointly and to leverage their combined expertise in energy and EV solutions. Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said this MoU marks a significant step forward as the company diversifies into Malaysia's EV charging market, which is experiencing exponential growth. 'Partnering with ChargeHere, a recognised market leader with extensive operational reach, provides us with a solid foundation to establish significant recurring revenue streams potentially,' he said. ChargeHere, operating under the ChargeSini brand, has a prominent market presence with 935 EV charging points across 300 stations nationwide. Currently, 734 points are operational and approved by the Energy Commission Malaysia. The company serves over 32,000 active users and notably has the largest footprint of EV charging stations in malls, hotels, and condominiums across Malaysia. Malaysia's EV market has witnessed substantial momentum, driven by government incentives, sustainability initiatives, and increasing adoption of electric vehicles. According to industry reports, the country aims to establish 10,000 EV charging stations by 2025, significantly upscaling the current infrastructure. This proactive push positions the EV charging industry as one of Malaysia's fastest-growing sectors, presenting lucrative business opportunities for companies such as Meta Bright. With this strategic collaboration, Meta Bright aims to capitalise on ChargeHere's extensive market presence and technical capabilities, ensuring effective entry into the EV charging space. Successful implementation of EV charging infrastructure can provide stable, long-term recurring revenue through consistent electricity sales and associated services, reinforcing Meta Bright's revenue model. 'We believe our collaboration with ChargeHere will accelerate our ESG objectives and drive sustainable, long-term profitability. 'This partnership can potentially open multiple avenues for us, including technology sharing, project development, and market penetration within the EV infrastructure space,' Derek added. Meta Bright and ChargeHere will jointly conduct preliminary assessments, exchange information, and identify potential projects to establish a concrete partnership structure. This initiative represents Meta Bright's ongoing commitment to expanding its portfolio through strategic partnerships and innovative, sustainable business solutions.
