Latest news with #MetaBrightGroupBhd
The Star
09-06-2025
- Business
- 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
- Business
- 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
01-06-2025
- Business
- The Sun
Meta Bright's nine-month revenue leaps 222% year-on-year, propelled by building materials segment
PETALING JAYA: Meta Bright Group Bhd, a Main Market-listed diversified conglomerate, reported a strong financial performance for the nine months ended March 31, 2025 (9M25), driven by significant contributions from its building materials, leasing, hospitality and energy-related segments. Revenue leaped 222% year-on-year (y-o-y) to RM175 million from RM54.36 million in the corresponding period of the previous financial year. The remarkable growth was largely driven by the building materials segment, which recorded revenue of RM141.62 million, supported by the continued strong performance of Expogaya Sdn Bhd, which Metra Bright acquired in January 2024. Profit attributable to owners of the company (Patami) surged 145% to RM6.95 million from RM2.83 million a year earlier, demonstrating the group's effective diversification strategy and operational efficiencies. The group achieved a 57% increase in revenue to RM53.42 million in Q3'25 compared to RM33.95 million in Q3'24. Meta Bright's robust financial performance was complemented by strong operational cash flows, generating RM14.47 million from operating activities for the nine-month period, compared to a net operating cash flow of RM10.66 million during the same period last year. This positive cash flow demonstrates the group's enhanced cash-generating capabilities and operational strength. Corporate and strategic planning executive director Derek Phang Kiew Lim said, 'Our solid performance in the first nine months reflects the effectiveness of our diversification and growth strategies implemented over the past year. Continued contributions from the existing business segments, combined with disciplined financial management and operational efficiencies, position us well to achieve sustained growth and deliver long-term value to our shareholders.' He added they are particularly encouraged by the sustained improvement in their operating cash flows, which provides them with greater flexibility to pursue strategic opportunities and investments. Despite the challenging market environment, Phang said, their diversified business model continues to deliver stable growth and enhance shareholder value. Looking ahead, Meta Bright remains committed to its growth trajectory by actively identifying new opportunities in property development, energy-related businesses, and infrastructure projects, particularly leveraging the continued infrastructure boom in Sabah. The group intends to enhance its hospitality segment through ongoing improvements at Renai Hotel and other facilities. However, Phang said they will be cautious in light of the cross-border risks and uncertainties surrounding geopolitical factors, ensuring that they maintain a robust risk management approach and strategic flexibility to navigate any potential headwinds effectively. 'We remain optimistic about our business prospects for the remainder of FY2025. With a healthy order book, solid financial fundamentals, and strategic initiatives in place, we believe Meta Bright is well-positioned to sustain its growth momentum,' he added.
The Sun
30-05-2025
- Business
- The Sun
Meta Bright sees 145% profit growth, fueled by diversified segments
KUALA LUMPUR: Meta Bright Group Bhd, a Bursa Malaysia main market-listed diversified conglomerate, posted a substantial increase in revenue of 222% year-on-year (YoY) to RM175.0 million for the nine-month (9M) period ended March 31, 2025 (FY25), compared to RM54.36 million recorded in the same period of FY24. The revenue increase was driven by significant contributions from its building materials, leasing, hospitality, and energy-related segments. Further, the growth was largely driven by the building materials segment, which recorded revenue of RM141.62 million, supported by the continued strong performance of Expogaya Sdn Bhd, acquired in January 2024. Profit attributable to owners of the company (Patami) surged 145% YoY to RM6.95 million from RM2.83 million a year earlier, demonstrating the group's effective diversification strategy and operational efficiencies. On a quarterly basis, the group achieved a 57% increase in revenue to RM53.42 million in Q3 FY25 compared to RM33.95 million in Q3 FY24. Meta Bright's robust financial performance was complemented by strong operational cash flows, generating RM14.47 million from operating activities for the nine-month period, compared to a net operating cash flow of RM10.66 million during the same period last year. This positive cash flow demonstrates the group's enhanced cash-generating capabilities and operational strength. Commenting on the results, Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said the company's performance in the first nine months reflects the effectiveness of the diversification and growth strategies implemented over the past year. 'Continued contributions from the existing business segments, combined with disciplined financial management and operational efficiencies, position us well to achieve sustained growth and deliver long-term value to our shareholders. 'We are particularly encouraged by the sustained improvement in our operating cash flows, which provides us with greater flexibility to pursue strategic opportunities and investments. 'Despite the challenging market environment, our diversified business model continues to deliver stable growth and enhance shareholder value,' he said in a statement. Looking ahead, Meta Bright remains committed to its growth trajectory by actively identifying new opportunities in property development, energy-related businesses, and infrastructure projects, particularly leveraging the continued infrastructure boom in Sabah. The group also intends to enhance its hospitality segment through ongoing improvements at Renai Hotel Kota Bharu in Kelantan and other facilities. 'However, we will be cautious in light of the cross-border risks and uncertainties surrounding geopolitical factors, ensuring that we maintain a robust risk management approach and strategic flexibility to navigate any potential headwinds effectively. 'We remain optimistic about our business prospects for the remainder of FY25. With a healthy order book, solid financial fundamentals, and strategic initiatives in place, we believe Meta Bright is well-positioned to sustain its growth momentum,' Phang said.
The Sun
22-05-2025
- Automotive
- The Sun
Meta Bright collaborates with ChargeHere EV solution, eyeing expansion into EV charging infrastructure
KUALA LUMPUR: Meta Bright Group Bhd, through its 55%-owned subsidiary Meta Bright Solutions Sdn Bhd (MBS)signed a memorandum of understanding (MoU) with ChargeHere EV Solution Sdn Bhd, Malaysia's leading electric vehicle (EV) charging point operator (CPO), to explore collaboration opportunities within the rapidly growing EV ecosystem. This partnership underscores Meta Bright's commitment to expanding its energy-related businesses, specifically within the burgeoning EV infrastructure segment, in alignment with its environmental, social, and governance (ESG) goals. The MoU sets the stage for both parties to evaluate commercial and strategic alignments jointly and to leverage their combined expertise in energy and EV solutions. Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said this MoU marks a significant step forward as the company diversifies into Malaysia's EV charging market, which is experiencing exponential growth. 'Partnering with ChargeHere, a recognised market leader with extensive operational reach, provides us with a solid foundation to establish significant recurring revenue streams potentially,' he said. ChargeHere, operating under the ChargeSini brand, has a prominent market presence with 935 EV charging points across 300 stations nationwide. Currently, 734 points are operational and approved by the Energy Commission Malaysia. The company serves over 32,000 active users and notably has the largest footprint of EV charging stations in malls, hotels, and condominiums across Malaysia. Malaysia's EV market has witnessed substantial momentum, driven by government incentives, sustainability initiatives, and increasing adoption of electric vehicles. According to industry reports, the country aims to establish 10,000 EV charging stations by 2025, significantly upscaling the current infrastructure. This proactive push positions the EV charging industry as one of Malaysia's fastest-growing sectors, presenting lucrative business opportunities for companies such as Meta Bright. With this strategic collaboration, Meta Bright aims to capitalise on ChargeHere's extensive market presence and technical capabilities, ensuring effective entry into the EV charging space. Successful implementation of EV charging infrastructure can provide stable, long-term recurring revenue through consistent electricity sales and associated services, reinforcing Meta Bright's revenue model. 'We believe our collaboration with ChargeHere will accelerate our ESG objectives and drive sustainable, long-term profitability. 'This partnership can potentially open multiple avenues for us, including technology sharing, project development, and market penetration within the EV infrastructure space,' Derek added. Meta Bright and ChargeHere will jointly conduct preliminary assessments, exchange information, and identify potential projects to establish a concrete partnership structure. This initiative represents Meta Bright's ongoing commitment to expanding its portfolio through strategic partnerships and innovative, sustainable business solutions.
