Meta Bright signs RM24mil leasing contract with Australia company

PETALING JAYA: Meta Bright Group Bhd (MBGB), via its wholly-owned Australian subsidiary Meta Bright Australia Pty Ltd, has secured a new equipment leasing contract from Australian copper mining company Mt Cuthbert Resources Pty Ltd (MCR).

In a filing with Bursa Malaysia, MBGB said Meta Bright Australia will provide dry hire equipment rental services to MCR, supporting its copper mining operations in Australia with essential machinery and equipment valued up to RM24.82mil.

“This contract is expected to generate substantial monthly recurring rental income, estimated at AU$222,950 (about RM691.66mil), enhancing MBGB's recurring revenue streams and reinforcing its presence in the Australian market.”