KUALA LUMPUR: Main market-listed diversified conglomerate Meta Bright Group Bhd’s wholly owned subsidiary, FBO Land (Serendah) Sdn Bhd, has secured its maiden energy efficiency (EE) zero capex contracts from TMG Mart Sdn Bhd, a prominent grocery and supermarket operator under the Tunas Manja Group.
These contracts involve implementing an energy efficiency system, such as the demand control drive (DCD) system, at two key TMG Mart locations, namely TMG Mall Bandar Indera Mahkota and TMG Mall Tanjung Lumpur in Kuantan, Pahang.
This is an important milestone for Meta Bright, representing its inaugural self-developed EE contracts following its strategic memorandum of understanding (MoU) with Tunas Manja signed in November 2024.
Under the terms of the agreements, FBO Land 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 FBO Land and 20% to TMG Mart over a 12-year period.
Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said winning these contracts marks a meaningful achievement for the company, as they represent its very first self-secured EE projects following the strategic partnership 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,” he said in a statement.
Further, these contracts represent the successful materialisation of the collaboration from the mou as announced on November 24, 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.
“With this initial success, we are confident in replicating our EE solutions across TMG Mart’s broader network and other supermarket chains, positioning Meta Bright as a competitive provider of innovative, cost-effective energy efficiency solutions,“ Phang added.
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.
“We view these contracts as stepping stones that solidify our capabilities and reputation in the energy efficiency sector.
“Our performance and track record from these initial projects will serve as strong references to secure larger opportunities in the future,” Phang said.
