Meta Bright Secures Its First Energy Efficient Zero Capex Contract
Meta Bright Group Berhad announced that its wholly-owned subsidiary, FBO Land (Serendah) Sdn Bhd has secured its maiden Energy Efficiency (EE) Zero Capex contracts from TMG Mart Sdn Bhd.
These contracts involve implementing an Energy efficiency system, i.e.: Demand Control Drive (DCD) system at two key TMG Mart locations—TMG Mall Bandar Indera Mahkota and TMG Mall Tanjung Lumpur in Kuantan, Pahang.
Under the terms of the agreements, FLSSB will develop, design, finance, install, commission, operate, and maintain the DCD systems, which optimise electrical consumption in heating, ventilation, and air conditioning (HVAC) systems, pumps, and compressors.
The Energy Efficiency Zero Capex initiative is structured under an Energy Performance Contract (EPC) model, offering TMG Mart significant energy cost savings without upfront capital investment. Savings generated from the system will be shared with 80% accruing to FLSSB and 20% to TMG Mart over a 12-year period.
Derek Phang Kiew Lim, Executive Director of Corporate and Strategic Planning of Meta Bright Group Berhad (“Derek Phang”) said, “Winning these contracts marks a meaningful achievement for Meta Bright, as they represent our very first self-secured EE projects following the strategic partnership we established with Tunas Manja Group last year. These small but significant contracts set an important precedent for our future growth in the energy efficiency space, particularly among supermarket chains and retail businesses.” Further, these contracts represent the successful materialisation of the collaboration from the mou as announced on 27 Nov 2024.
TMG Mart, established in 1986, is a prominent grocery retailer in Malaysia, operating over 100 outlets nationwide. This contract signifies Meta Bright’s strategic entry into the energy efficiency sector, leveraging its diversified portfolio to contribute to sustainable development.
The Energy Efficiency Zero Capex projects are anticipated to positively contribute to Meta Bright’s earnings over the 12-year tenure, strengthening its recurring revenue base. The Group remains strategically positioned to capitalise on Malaysia’s growing demand for sustainable energy solutions.