Meta Bright seeks RM21mil from private placement to fund expansion
PETALING JAYA: Meta Bright Group Bhd plans to raise up to RM21mil via a private placement exercise to primarily fund its growing renewable-energy and energy-efficiency businesses as well as to pare bank borrowings.
The private placement seeks to issue up to 253 million new shares, representing 10% of Meta Bright's issued share capital.
Of the RM21mil raised, about RM8.75mil will be channelled into the group's ongoing and future energy-related projects.
Meta Bright currently manages 28 active solar photovoltaic projects and four energy-efficiency projects in Selangor, Johor, Pahang, and Terengganu.
These initiatives are integral to Meta Bright's strategy to build sustainable, long-term and recurring revenue streams.
Additionally, RM2mil from the proceeds will be utilised to partially repay a term loan facility, reducing interest costs and improving the group's profitability and financial health.
For context, as of the end of last month, the group's borrowings (including lease liabilities) stood at RM146.9mil, of which RM59.6mil was in long-term borrowings and RM87.3mil of short-term borrowings.
Beyond funding energy projects and reducing its debt, Meta Bright looks to direct another RM8mil from the private placement towards working capital, supporting day-to-day operations and providing flexibility for further business expansion.
Another RM2mil will be allocated to further develop Meta Bright's moneylending business, aiming to broaden its market reach and enhance income streams.
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The Star
09-06-2025
- The Star
Meta Bright seeks RM21mil from private placement to fund expansion
PETALING JAYA: Meta Bright Group Bhd plans to raise up to RM21mil via a private placement exercise to primarily fund its growing renewable-energy and energy-efficiency businesses as well as to pare bank borrowings. The private placement seeks to issue up to 253 million new shares, representing 10% of Meta Bright's issued share capital. Of the RM21mil raised, about RM8.75mil will be channelled into the group's ongoing and future energy-related projects. Meta Bright currently manages 28 active solar photovoltaic projects and four energy-efficiency projects in Selangor, Johor, Pahang, and Terengganu. These initiatives are integral to Meta Bright's strategy to build sustainable, long-term and recurring revenue streams. Additionally, RM2mil from the proceeds will be utilised to partially repay a term loan facility, reducing interest costs and improving the group's profitability and financial health. For context, as of the end of last month, the group's borrowings (including lease liabilities) stood at RM146.9mil, of which RM59.6mil was in long-term borrowings and RM87.3mil of short-term borrowings. Beyond funding energy projects and reducing its debt, Meta Bright looks to direct another RM8mil from the private placement towards working capital, supporting day-to-day operations and providing flexibility for further business expansion. Another RM2mil will be allocated to further develop Meta Bright's moneylending business, aiming to broaden its market reach and enhance income streams.
Focus Malaysia
09-06-2025
- Focus Malaysia
Meta Bright seeks RM21m in new capital to fuel future energy projects, facilitate debt repayment
MAIN Market-listed diversified conglomerate Meta Bright Group Bhd (formerly Eastland Equity Bhd) has today (June 9) proposed private placement of new shares to raise gross proceeds of up to RM21 mil. The fund-raising exercise will primarily support the group's growing renewable energy (RE) and energy efficiency (EE) businesses while reducing the group's existing bank borrowings to strengthen its overall financial standing. This proposed private placement which allows the issuance of up to 253 million new shares or 10% of Meta Bright's issued share capital will provide quicker access to capital compared to alternative fund-raising methods while avoiding dilution and costly interest associated with bank financing. Of the RM21 mil to be raised, RM8.75 mil will be channelled into Meta Bright's on-going and future energy-related projects. The group currently manages 28 active solar photovoltaic (PV) projects and four EE projects across various states, including Selangor, Johor, Pahang and Terengganu. These initiatives are integral to Meta Bright's strategy to build sustainable, long-term and recurring revenue streams. Additionally, RM2 mil from the proceeds will be utilised to partially repay a term loan facility, thus reducing interest costs and improving the group's profitability and financial health. Another RM8 mil will be directed towards working capital to support day-to-day operations and providing flexibility for further business expansion. Above all else, the group has also allocated RM2 mil to further develop its money lending business segment which aims to broaden its market reach and enhance income streams. 'This private placement is strategically structured to support our aggressive expansion into the RE and EE sectors with the markets showing strong, sustained growth prospects,' commented Meta Bright's executive director (corporate and strategic planning) Derek Phang Kiew Lim. 'By deploying this capital swiftly and effectively, we expect increased earnings visibility and enhanced profitability in the coming years.' To-date, Meta Bright's RE and EE segments have experienced robust growth with on-going and future contracts demonstrating strong revenue potential. These projects include solar installations for manufacturers, government buildings, worship places and commercial entities. In a way, the private placement exercise is timely as it positions the group to capitalise on Malaysia's ambitious energy transition initiatives outlined in the National Energy Transition Roadmap (NETR). 'Reducing debt levels through this exercise will directly benefit our bottom line. Lower financing costs combined with strong recurring income from energy projects will ensure long-term profitability,' justified Phang. 'We are committed to maintaining prudent financial management while actively pursuing sustainable growth opportunities.' At the end of today's (June 9) market trading, Meta Bright was down 0.5 sen or 4% to 12 sen with 120,600 shares, thus valuing the company at RM304 mil. – June 9, 2025
The Sun
08-06-2025
- The Sun
Meta Bright clinches maiden energy efficiency zero capex contracts from TMG Mart
PETALING JAYA: Main Market-listed diversified conglomerate Meta Bright Group Bhd's wholly owned subsidiary FBO Land (Serendah) Sdn Bhd (FLSSB) has secured maiden energy efficiency zero capex contracts from TMG Mart Sdn Bhd, a grocery and supermarket operator under the Tunas Manja Group. The contracts involve implementing an energy efficiency system – Demand Control Drive (DCD) – at two TMG Mart locations TMG Mall Bandar Indera Mahkota and TMG Mall Tanjung Lumpur in Kuantan, Pahang. This marks a significant milestone for Meta Bright, representing its inaugural self-developed energy efficiency contracts following its memorandum of understanding with Tunas Manja Sdn Bhd signed in November 2024. 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 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. Meta Bright corporate and strategic planning executive director Derek Phang Kiew Lim 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.' TMG Mart, established in 1986, is a grocery retailer in Malaysia, operates over 100 outlets nationwide. '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 said . 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 concluded.
