PETALING JAYA: Meta Bright Group Bhd
’s 51%-owned subsidiary, Meta Bright Chargesini Sdn Bhd, has secured banking facilities of RM8.5mil from AmBank (M) Bhd to fund the next phase of its electric vehicle (EV) charging infrastructure expansion.
In a statement, Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said securing the was a commercial milestone for the group’s EV infrastructure blueprint.
“We are moving beyond the foundational set-up 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.”
The principal facility of up to RM8mil is allocated to part-finance up to 80% of the capital expenditure required for the purchase, installation and commissioning of new EV charging ports.
