KUALA LUMPUR: Meta Bright Group Bhd
's 51%-owned subsidiary Meta Bright Chargesini Sdn Bhd (MBC) has secured banking facilities of up to RM8.5mil from AmBank (M) Bhd to fund the next phase of its EV charging infrastructure expansion.
“Securing this RM8.5mil facility from AmBank is a major commercial milestone for our EV infrastructure blueprint.
"We are now moving beyond the foundational setup and stepping firmly into the aggressive scaling phase. Having a dedicated project financing
structure allows us to deploy assets much faster and more efficiently, without tying up our core working capital," said Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim in a statement.
According to the statement, the principal facility of up to RM8mil is trategically allocated to part-finance up to 80% of the capital expenditure required for the purchase, installation, and commissioning of new EV charging ports.
Since the expansion of the group's energy division into Malaysia's EV market, MBC has successfully commissioned 25 charging stations, comprising a total of 82 charging points (67 AC and 15 DC chargers).
