14/07/2025

BIZ & FINANCE MONDAY | JULY 14, 2025

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Meta Bright, ChargeHere formalise EV charging tie-up

Malacca Securities positive on LGMS acquisition of stake in Antarex PETALING JAYA: Malacca Securities Sdn Bhd views LGMS Bhd’s acquisition of a 27% stake in Antarex Holdings Sdn Bhd as a positive move aligned with the group’s regional growth strategy. The research firm said the acquisition provides LGMS with an immediate foot hold in Singapore and broader access to Southeast Asian markets. “The inclusion of a profit guarantee enhances earnings visibility for the group,” Malacca Securities noted. “We also view the timing of this acquisition as strategic, coming ahead of LGMS’ planned transfer to the Main Market by Q4 2025, which is likely to boost institutional investor interest,” it said. Antarex is undergoing internal re organisation to consolidate its Singa pore-based entities, Antarex Cyber Pte Ltd and IPDC Solutions Pte Ltd. The acquisition includes a cumu lative profit guarantee of RM24.5 million for FY26 to FY28. LGMS plans to leverage Antarex’s regional pre sence to boost sales of its cyber security solution, StarSentry. “We expect the profit guarantee to begin contributing to LGMS’s earnings as early as FY25, considering the differing financial year-ends between the two entities (Antarex, June; LGMS. December). “Based on the RM24.5 million profit guarantee and LGMS’s 27% stake, we estimate the group will recognise associate profits of RM1 million in FY25, RM2.1 million in FY26, and RM2.4 million in FY27.” As a result, Malacca Securities has revised its net profit forecasts for LGMS by 5%, 11% and 11% to RM14.0 million, RM16.7 million and RM18.9 million for FY25, FY26, and FY27, respectively. The research house maintained its “Buy” call on LGMS with a higher target price of RM1.18, up from RM1.09. Rubber market set to trend higher: Margma KUALA LUMPUR: The Malaysian rubber market is expected to trend upwards this week, supported by stronger US economic data and rising oil prices, according to the Malaysian Rubber Glove Manufacturers Asso ciation (Margma). These factors, as well as expect ations of additional economic sti mulus from China, are viewed as important drivers that could lend support to the rubber market this week, the association told Bernama. “However, pervasive uncertainty stemming from US trade policies – despite the possibility of negotiations before Aug 1 – along with potential adjustments to US interest rates, could pose headwinds for the rubber market,” Margma said. In contrast, industry expert Denis Low expected the rubber market to remain passive this week, with a tendency to move sideways or lower amid cautious sentiment. “We anticipate trading to be muted, with a downward bias this week,” he said. Last week, the Malaysian Rubber Board’s reference price for SMR rose by 15 sen to 726.00 sen per kg. – Bernama

KUALA LUMPUR: Brisk ringgit denominated transactions will con tinue to entrench the Malaysian currency as among the top 20 currencies globally, a top wealth management company official said. SPI Asset Management managing partner Stephen Innes said demand for transactions in ringgit would be driven by Malaysia’s strong trading linkages, especially with China, Singapore and other Southeast Asian economies. Expanding usage of ringgit for currency settlements, bilateral agree ments and portfolio inflows into the domestic bond market and en couraging growth have helped sustain demand for the local note. “This will help to keep the ringgit on the global radar,” he told Bernama in an interview yesterday. The ringgit strengthened to as high as 4.1990 against the US dollar on May 5, appreciating by about 6.2% from the start of the year, marking its strongest level in 2025. To date, the local note was traded at 4.2475/2525 against the green back. Innes was responding to a report by Seasia Stats, which compiled data from the Society for Worldwide PETALING JAYA: Diversified energy conglomerate Meta Bright Group Bhd’s wholly owned subsidiary Meta Bright Energy Sdn Bhd has formalised a joint venture (JV) with ChargeHere EV Solution Sdn Bhd, a leading electric vehicle (EV) charging point operator in Malaysia. The JV aims to expand the group’s footprint in Malaysia’s rapidly growing EV charging infrastructure market. The partners will incorporate a JV company – Meta Bright Chargesini Sdn Bhd – dedicated to developing, installing and operating EV charging infrastructure across Malaysia, focusing on malls, hotels, residential and commercial areas. Meta Bright Energy will hold a 51% stake while ChargeHere will hold the remaining 49%. Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said the JV with ChargeHere significantly expands the company’s capabilities within the renewable energy sector, particularly in EV infrastructure. “It represents an essential milestone for Meta Bright, aligning focusing on malls, hotels, residential and commercial areas o They’ll develop, install and operate infrastructure –

Interbank Financial Telecommu nication (Swift), that listed the ringgit as among the top 20 most influential currencies globally. Seasia Stats is a social media page and online platform that shares statistics and data visualisations about Southeast Asia. It covers a wide range of topics, including econo mics, demographics, culture, health and technology. Innes said trade, especially in the high-growth electronics and semi conductor sector, palm oil products as well as energy would stimulate demand for the ringgit. “Malaysia’s regional financial inte gration also plays a significant role in enhancing the ringgit’s global pre sence,” he said. “The growing use of local currency settlement mechanisms, supported by bilateral agreements with Indo nesia, Thailand and China, has increased the operational footprint of the ringgit in cross-border trade. “On the investment side, despite cyclical volatility – Malaysia’s bond market still attracts portfolio inflows due to its depth and relatively attrac tive yields,” he said. He added that this consistent interest helps sustain demand for the closely with our ESG goals and strategic focus on creating sustainable, recurring revenue streams,” he said in a statement. ChargeHere, operating under the ChargeSini brand, currently manages Malaysia’s largest network of EV charging points with 935 charging stations across 300 locations, serving more than 32,000 active users. The collaboration enables Meta Bright to leverage ChargeHere’s established technical capabilities and operational experience to advance the group’s presence in the growing EV infrastructure sector. Through the initiative, Meta Bright aims to capitalise on the government’s National Energy Transition Roadmap, which outlines the strategic expansion of renewable energy and sustainable infra structure nationwide, including the establishment of 10,000 EV charging stations by 2025. Both parties have identified several urgent and approved projects to launch under the JV, with key locations in Johor, Penang and Selangor. Additionally, the partnership is already actively planning sub sequent stages of expansion, with an extensive pipeline of upcoming projects that include notable sites across Kuala Lumpur, Pahang and Malacca, among others. The sites range from prominent hotels and commercial buildings to large residential condominiums. “Our immediate and planned installations will substantially broaden our operational footprint in

ChargeHere, operating under the ChargeSini brand, currently manages Malaysia’s largest network of EV charging points.

group’s broader risk management strategy to mitigate exposure to cross-border operational risks, in cluding geopolitical uncertainties, foreign exchange volatility and global economic conditions. “The disposal of our Australian subsidiary allows us to redeploy resources towards our core operations in Malaysia, ensuring sustained long-term growth and shareholder value. The proceeds will also help us significantly mitigate the cross-border business amidst the current geopolitical environment, reduce our bank borrowings, and enhance our financial resilience,” Phang said. currency cooperation,” he added. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the government’s efforts to improve its fiscal position – which reduced the fiscal deficit to 4.5% of gross domestic product (GDP) in the first quarter of 2025 from 5.7% in the same period last year – have sup ported the ringgit’s performance. Key fiscal measures – including the increase in the Sales and Service Tax (SST) from 6% to 8% on March 1, 2024 and the diesel subsidy rationa-lisation implemented in June – have helped strengthen government finances. This includes a 30.3% increase in SST collection in the first quarter of 2025 and a reduction in spending on subsidies and social assistance. “On that note, that helped improve the ringgit as foreign investors were seen as net buyers in our bond markets, especially the Malaysian Government Securities and Government Investment Issues. He said Bank Negara Malaysia’s foreign exchange reserves rose from US$115.5 billion in January to US$120 billion (RM510.4 billion) at the end of June, further supporting the appreciation of the ringgit.

key urban areas, supporting national goals and meeting rising consumer demand for accessible EV charging solutions,” Phang said. The joint venture with Charge Here significantly enhances the group’s renewable energy and energy efficiency portfolio, reinfor cing its commitment to environ mental sustainability and innovative energy solutions. In addition to the joint venture, Meta Bright also announced the disposal of its wholly owned Australian subsidiary, Meta Bright Australia Pty Ltd, for RM25.37 million. The decision comes as part of the ringgit among global asset allo cators. Innes said Bank Negara Malaysia’s ongoing efforts to upgrade financial infrastructure and promote digital payment connectivity have im proved the ringgit’s accessibility and efficiency in international systems. According to Seasia Stats data, the US dollar continued to dominate international transactions with a 49.68 per cent share, followed by the euro (22.24%), British pound (6.51%), and Japanese yen (4.03%). The ringgit, along with the Hungarian forint and Thai baht, rounded out the top 20, each accounting for under 0.3% of global usage. Innes said the ringgit’s inclusion may be modest in scale, but it reflects a significant shift in the ringgit’s regional relevance. “While its share of global transactions remains under 0.3%, its presence on the list reflects more than just size – it points to Malaysia’s strategic position within global trade and financial networks, particularly in the Asia-Pacific. “The ringgit may not be a reserve powerhouse, but it’s increasingly being used where it counts: in trade settlement, capital flows and regional

Brisk ringgit transactions ensure Malaysian currency maintains high global standing: Expert