Latest news with #Phang
The Sun
3 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.
The Star
4 days ago
- Science
- The Star
Prof's AI tools take top honours
Beaming: Prof Lim (centre) celebrating his double gold win with Ai3D PLT collaborators Phang (left) and Haiwei Zuo (right). IN every problem lies an opportunity to solve it. True to this spirit of invention, Prof Garenth Lim King Hann devised solutions to two problems he identified in sports training and elderly healthcare. What followed were innovations with the potential to transform both fields – earning him recognition at the recent International Invention, Innovation, Technology Competition & Exhibition (ITEX 2025). Prof Lim – a lecturer at Curtin University Malaysia's Department of Electrical and Computer Engineering – won two gold medals for 'Ai3D-CAMS' and 'AMEND (Assessment of Memory and Eye Movements for Neurodegenerative Diseases)'. Both innovations were developed through the varsity's artificial intelligence (AI) spin-off, Ai3D PLT – a company Prof Lim co-founded with Dr Jonathan Phang Then Sien and Dr Basil Andy Lease. Ai3D-CAMS is a portable, AI-driven 3D motion capture system designed for precision sports like archery. Unlike traditional systems, it requires no physical markers and offers real-time, voice-controlled motion analysis – empowering athletes to train independently while giving coaches instant insights into micro-movements, posture and technique. 'Its portability and ease of use make Ai3D-CAMS a game-changer – not just for elite athletes, but also for schools, community clubs and national teams,' said Prof Lim in a press release. AMEND is a mixed reality-based tool that turns cognitive testing into a simple, non-invasive game. Using eye-tracking and interactive tasks, it helps detect early signs of memory loss or attention deficits, potentially identifying Alzheimer's before symptoms become critical. 'We are turning complex screenings into engaging experiences that can be done in any clinic or care home. 'AMEND could significantly advance early diagnosis and improve outcomes in elderly care,' Prof Lim explained. Both inventions are part of Ai3D PLT's mission to drive industrial innovation using AI and 3D technology across sectors like sports, healthcare and energy. 'We are not just inventing – we are solving real-world problems and making advanced technology accessible,' said Prof Lim. ITEX 2025, held at the Kuala Lumpur Convention Centre from May 29 to 31, showcased over 900 innovations from 15 countries. Themed 'The Power of STEAM and AI', the event celebrated forward-thinking technologies that merge science, technology, engineering, arts and mathematics (STEAM) with AI.
Focus Malaysia
5 days ago
- 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 Sun
5 days ago
- 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 Star
27-06-2025
- Business
- The Star
Cautious outlook for retail sector in 2H25
PETALING JAYA: Industry experts remain cautious about the outlook for Malaysia's retail industry in the second half of 2025 (2H25), amid ongoing global and domestic pressures. Malaysia Shopping Malls Association president Phang Sau Lian noted that geopolitical tensions and tariff wars have redirected more foreign businesses and goods to Malaysia. 'While this presents opportunities, it also intensifies competition. Local retailers and mall operators must improve competitiveness and productivity to stay resilient,' she told StarBiz. Domestically, Phang said the rising cost of doing business continues to weigh heavily on the sector. 'The upcoming expansion of the sales and service tax (SST) next month to cover rental and leasing of commercial spaces, construction services, beauty services and selected food items is particularly concerning. 'These areas are core to mall operations and tenant services. The added tax burden could lead to margin erosion, delayed tenancy, higher consumer prices and, ultimately, inflationary pressure across the retail sector.' Malaysia Shopping Malls Association (PPKM) president Phang Sau Lian hopes to bring more new players and brands into local retail market Phang said additional cost pressures from electricity tariff hikes, higher minimum wages and subsidy removals are forcing many retailers and mall operators to cut back on marketing and expansion plans, which will impact overall mall vibrancy. 'At the same time, concerns are rising over the labour market, especially with recent announcements of staff layoffs by key companies like Petroliam Nasional Bhd, which could reduce consumer confidence and spending,' Phang said. Sunway Malls chief executive officer HC Chan concurred that businesses will adopt a cautious stand, given that cost pressures remain elevated, in particular due to the expanded SST and a host ofupcoming national rationalisation measures. 'Certainly, consumer sentiment is foreseen to be continuously muted and subdued, given the heavy presence of uncertainty. It is certainly a very challenging time for all. 'However, there are bright spots in the retail sub-sectors, as some Asia-based intellectual property-related toys and homegrown food and beverage (F&B) brands have shown resilience and bucked the trend. 'They have fared tremendously well and registered high growth. These categories are expected to continue to drive retail sales performance.' On the sector's performance so far, Phang said the retail industry began 2025 on a cautious footing. 'Chinese New Year sales were softer due to the short festive gap following Christmas and year-end promotions, limiting consumer spending recovery. 'Hari Raya sales also fell below expectations, as many households prioritised back-to-school expenses that coincided with the festive season, tightening overall disposable income.' Chan concurred that businesses will remain cautious, especially with cost pressures staying elevated – notably due to the expanded SST and a host of upcoming national rationalisation measures. Phang said a major challenge has been the continued rise of unregulated online platforms offering ultra-low prices without the same tax or compliance obligations, putting physical retailers at a disadvantage. 'At the same time, the rising cost of doing business – driven by electricity tariff hikes, subsidy rationalisation and higher wage commitments – has placed significant pressure on profit margins, particularly for small and mid-sized retailers.' She added that global uncertainties such as tariff hikes and supply chain disruptions have further impacted business strategies, prompting a shift toward market diversification and operational efficiency. 'Despite these challenges, retail segments such as F&B, entertainment and lifestyle experiences have remained resilient, particularly in malls that have invested in asset enhancement, refreshed tenant mix, targeted consumer engagement activities and continuous effective marketing programmes.' On the performance of the retail industry in 1H25, Chan said the sector faced strong headwinds from two fronts, namely rising business costs and lacklustre consumer spending, both of which had dampened retail performance. 'With Chinese New Year falling earlier in January, the shortened sales period and the lower-than-expected Hari Raya sales performance had left the retail sector without much buffer or room to manoeuvre. 'As the second quarter saw the escalation of the tariff wars, the volatility and uncertainty sent shockwaves across the globe, fuelling further cutbacks on discretionary spending by corporations and consumers,' he said. Nevertheless, Chan said Malaysia's tourism sector has been a bright spot for the country and a boon for the retail industry. 'There has been a 21% year-on-year (y-o-y) increase in visitor arrivals for the first four months of this year. This has been a major catalyst. 'Sunway Malls is seeing some benefits of these arrivals, depending on the mall's locality, with Sunway Velocity Mall seeing a large influx of Chinese travellers.' For Sunway Putra Mall, Chan said the group is seeing a significant increase in Indian travellers, as well as other nationalities at its Sunway Pyramid mall. 'However, the retail industry is predominantly driven by domestic consumption. Tourism (impact) is still very location-specific,' he says. Phang also acknowledged that Malaysia recorded a strong increase in tourist arrivals in early 2025, with 6.7 million international visitors in the first two months alone - a 31.3% y-o-y increase. 'This growth has been supported by visa-free access for Chinese nationals and continued visa exemptions for Asean and selected Western countries. 'While the increase in arrivals is encouraging, the boost to retail spending has been moderate and selective.' Phang noted that malls located in prime tourism zones – such as city centres, hotel districts and border-entry areas – have seen some uplift, particularly in categories like wellness, souvenirs and F&B. 'However, the overall impact on nationwide retail has been limited. There are two main reasons: first, a substantial number of Malaysians are travelling overseas and they tend to spend more while abroad, diverting domestic consumption. 'Second, not all tourist arrivals translate into meaningful spending. Many are short-stay visitors or budget-conscious travellers. 'In short, while tourist arrivals have improved, the retail sector has seen only modest gains, concentrated mainly in key tourist areas. 'Broader retail growth is still driven by domestic demand,' she concluded.
