Meta Bright

MAIN Market-listed Meta Bright Group Bhd has entered into a strategic joint venture (JV) with ChargeHere EV Solution Sdn Bhd, Malaysia’s largest electric vehicle (EV) charging point operator, to scale up its presence in the country’s rapidly growing EV infrastructure market.

The JV, to be operated under a newly incorporated entity called Meta Bright Chargesini Sdn Bhd, will focus on developing, installing and operating EV charging stations nationwide, targeting high-traffic areas such as malls, hotels, commercial centres and residential properties.

Meta Bright Energy Sdn Bhd, a wholly owned subsidiary of Meta Bright, will hold a 51% controlling stake, while ChargeHere will own the remaining 49%.

ChargeHere, which operates under the “ChargeSini” brand, currently manages over 935 charging stations across 300 locations, catering to more than 32,000 active users.

The collaboration will allow Meta Bright to tap into ChargeHere’s technical capabilities and operational experience to accelerate deployment of EV infrastructure.

“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,” said Meta Bright ED of corporate and strategic planning Derek Phang Kiew Lim.

The partnership aims to capitalise on the National Energy Transition Roadmap (NETR), which targets the establishment of 10,000 EV charging stations nationwide by 2025. Several key projects in Johor, Penang and Selangor have already been identified and approved under the JV, with further plans in the pipeline covering Kuala Lumpur, Pahang, and Melaka.

“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.

Separately, Meta Bright also announced the disposal of its wholly owned Australian subsidiary, Meta Bright Australia Pty Ltd, for RM25.37 million.

The move is part of its broader strategy to reduce cross-border risks and refocus on domestic growth opportunities.

“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,” said Phang.

The JV with ChargeHere marks a strategic step for Meta Bright in expanding its renewable energy and energy efficiency portfolio, reinforcing the group’s commitment to environmental sustainability and innovative energy solutions. — TMR

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