Meta Bright firms up its EV venture by acquiring 54 EV chargers to expand its national charging network
Meta Bright Group Bhd, a Main Market-listed diversified energy conglomerate, has sealed a conditional sale and purchase agreement with ChargeHere EV Solution Sdn Bhd to acquire a portfolio of operational electric vehicle (EV) charging assets.
The deal entered into by the group’s 51%-owned subsidiary, Meta Bright ChargeSini Sdn Bhd (MBC) will enable MBC to acquire 17 EV charging sites comprising 54 chargers – 44 alternating current (AC) and 10 direct current (DC) – from ChargeHere for a total consideration of RM2.01 mil.
Installed at prime residential and mixed-use developments across the Klang Valley, these chargers are made available at key metropolitan locations such as North Kiara, Setia Eco Park and Titiwangsa as well as major high-rise condominiums and retail spaces.
The acquisition price of which was derived based on the net book value (NBV) of the assets would provide Meta Bright with a reasonable and value-accretive entry point into a growing segment of Malaysia’s EV ecosystem.
This structure excludes future earnings potential from the assets, thereby offering a prudent, low-risk acquisition that immediately enhances the group’s recurring income base.
Long-term recurring income base
Operating under the “ChargeSini” brand, ChargeHere is Malaysia’s largest charging point operator (CPO) by managing over 1,193 charging points across 473 stations with more than 61,000 active users.
The acquisition aligns with the objectives of the Meta Bright-ChargeHere joint venture which established MBC as the platform to own, develop and operate EV charging infrastructure under the Meta Bright ChargeSini brand.
Meta Bright Group Bhd executive director (corporate and strategic planning) Derek Phang Kiew Lim
“This acquisition marks another important step in Meta Bright’s commitment to building a meaningful presence in Malaysia’s EV ecosystem,” commented Meta Bright’s executive director (corporate and strategic planning) Derek Phang Kiew Lim.
“The assets acquired are not only strategically located – they are already operational, thus generating consistent income through existing site service agreements.”
Added Phang: “It (the deal) immediately strengthens our recurring income base while accelerating the roll-out of our national EV charging network under the Meta Bright ChargeSini platform.”
The acquired charging points are supported by long-term service agreements with property owners and management bodies, thus ensuring steady cash flow from energy sales and platform operations.
“Through this strategic consolidation, we’re building a scalable and recurring business model within the EV charging space,” enthused Phang.
“As EV adoption accelerates in Malaysia, our focus is on deepening site coverage in residential and commercial hubs, supported by ChargeHere’s strong technical capabilities and our own financial capacity to fund future expansions.”.
The acquisition of these charging points further demonstrates Meta Bright’s execution of its National Energy Transition Roadmap (NETR)-aligned strategy by advancing green mobility infrastructure while creating new, sustainable income streams.
At the close of today’s (Oct 14) market trading, Meta Bright was down 0.5 sen or 4% to 12 sen with 160,000 shares traded, thus valuing the company at RM326 mil. – Oct 14, 2025