Meta Bright Group (Meta Bright) has announced that its 51%-owned subsidiary, Meta Bright ChargeSini (MBC), has executed novation agreements with ChargeHere EV Solution (ChargeHere) to effectively take over the rights, operations and revenue streams of four key electric vehicle (EV) charging station projects.
This accelerates Meta Bright’s venture into the EV charging sector by leveraging the groundwork laid by its joint venture partner, ChargeHere. Meta Bright previously revealed its intention to collaborate with ChargeHere in May this year, with the joint venture agreement only signed on July 11.
ChargeHere manages and operates the operation of EV charging infrastructure and solutions via the ‘ChargeSini’ brand name. It currently owns 935 EV charging points across Malaysia and is claimed to be the country’s leading charging point operator.
In an official release, Meta Bright said it will advance negotiations to secure its next phase of EV charging sites in key strategic locations. “This novation is a key tactical move that significantly shortens our time-to-market in the competitive EV space. Rather than doing it from scratch, via the novation arrangement with our JV partner, ChargeHere, we have instantly secured EV chargers in high-visibility, strategic locations,” said Derek Phang, executive director of corporate and strategic planning at Meta Bright Group.
“It reinforces our commitment to expanding Meta Bright’s renewable energy business and immediately positions us as a credible and active player in Malaysia’s green mobility transition. We are not just entering the market; we are accelerating within it, enhancing our recurring income base and positioning ourselves strongly for future growth. In addition, the novation marks a strategic progression from the JV agreement we entered with Chargehere earlier, and could further strengthen our position in the CPO market,” he added.
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