PRG plans up to 30 charging stations for electric vehicles

SEPANG: Property and construction company PRG Holdings Bhd is targeting to set up between 20 and 30 charging stations in Malaysia over the next two years to cater to the growing demand for electric vehicles (EVs). 

PRG corporate affairs director Cheah Hannon said the company will look at setting up charging stations within the group's existing and ongoing developments. 

"It will depend on location and demand for EVs in the country, he said at a signing ceremony today with  Sunsuria Bhd today. 

He said the group had six charging stations already on its existing projects. 

The cost per charging station is RM12,000. 

Sunsuria and PRG, via their respective subsidiaries Sunsuria City Sdn Bhd and Premier Electrify Sdn Bhd, have signed a memorandum of understanding (MoU) that will see PRG deploying electric vehicle charging stations within Sunsuria City. 

PRG has fully sponsored the first charging station in Sunsuria City. 

Last week, PRG Holdings Bhd announced that it had entered into a RM5bil MoU with the Finance Ministry’s wholly owned Syarikat Perumahan Negara Bhd (SPNB) to develop affordable homes.

The MoU was signed with SPNB’s unit SPNB Aspirasi Sdn Bhd, and a project management firm Mimbar Nusantara Holdings Sdn Bhd (MNH) for a potential joint venture in the project.

Under this MoU, PRG will undertake construction works and project financing on the projects identified. Meanwhile, MNH will manage the JV housing project, including consultation, advising, facilitating and other related and required works.

Sunsuria registered a strong performance in the second quarter of financial year ended March 31, as its net profit saw a six-fold surge to RM18mil on a year-on-year comparison.

This lifted the property developer’s earnings for the first half to RM28.6mil. As of the first half of financial year 2017, the group has launched about 9% or RM147mil of its full-year target.

As of May 17, the group’s unbilled sales of RM510mil represented a revenue cover of 2.5 times against its revenue in the last financial year.

On July 30, Sunsuria and Star Media Group Bhd will host ‘Ride for Malaysia,’ a cycling event to inspire national unity and patriotism in the run-up to National Day.