23/07/2025

BIZ & FINANCE WEDNESDAY | JULY 23, 2025

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Meta Bright speeds up EV growth through tie-up with ChargeHere

Oxford Innotech IPO oversubscribed 3.4 times PETALING JAYA: Integrated

OXB received 2,729 applications for 156.94 million shares, with a total value of approximately RM45.51 million. This translates to an overall oversubscription rate of 3.42 times. For the Bumiputera portion, 1,039 applications for 36.71 million shares showed an over subscription rate of 1.07 times. For the non-Bumiputera public portion, 1,690 applications for 120.22 million shares showed an oversubscription rate of 5.77 times. Meanwhile, the 27 million shares reserved for eligible directors, employees, and indi viduals who have contributed to the group’s success have been fully subscribed. The private placement of 81 million shares and 7.8 million shares to Miti-approved Bumi putera investors has been fully placed, following the application of clawback and reallocation provisions as outlined in the prospectus. Additionally, the 42.2 million shares offered to selected in vestors have also been fully placed via private placement. From the IPO proceeds, OXB will allocate RM23.1 million (55.5%) for the construction of a new factory, RM11.2 million (26.9%) for the purchase and refinancing of new machinery, RM3.3 million (8%) for general working capital and RM4 million (9.6%) to cover listing-related expenses. OXB is scheduled to debut on the ACE Market of Bursa Malaysia on July 29. Based on the IPO price of RM0.29 and an enlarged issued share capital of 710 million shares, the company will have a market capitalisation of RM205.9 million upon listing. Malacca Securities Sdn Bhd is acting as the principal adviser, sponsor, underwriter and joint placement agent. Kenanga Invest ment Bank Bhd serves as joint placement agent, while WYNCORP Advisory Sdn Bhd is the corporate finance adviser for the IPO.

engineering solutions provider Oxford Innotech Bhd (OXB) has seen strong demand for its initial public offering (IPO), with shares oversubscribed by 3.42 times ahead of its listing on the ACE Market of Bursa Malaysia. Managing director Ng Thean Gin described the oversub scription as a clear vote of confidence in the company’s future prospects and a reflection of its track record. “The proceeds raised will play a pivotal role in accelerating our strategic expansion plans, ena bling us to scale more decisively and enhance our capabilities,” he said in a statement. Ng added that the market for modular building systems is evolving, driven by increasing global demand for energy-effi cient and cost-effective cons truction solutions. “Meanwhile, the semicon ductor manufacturing equipment market – projected to grow from US$92.5 billion (RM392 billion) in 2024 to US$142.7 billion by 2030 – is on an upward trajectory, supported by rising demand for electronics and smart devices,” he noted. Through its units, OXB provides integrated engineering solutions with a focus on pre cision-engineered components, mechanical assembly solutions, and automation and robotics. OXB’s IPO involves a public issue of 143.5 million new shares at RM0.29 per share, representing 20.2% of the enlarged issued share capital. The exercise is expected to raise RM41.6 million in gross proceeds. In addition, 50 million existing shares – representing 7% of the enlarged issued share capital – will be offered for sale via private placement to selected investors, including Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti). For the 35.5 million new shares allocated to the Malaysian public,

“Rather than a tentative entry, the company is accelerating its role in the sector, strengthening its base of recurring income and setting the stage for future growth,” he said. Phang added that the novation represents a strategic evolution from the joint venture agreement with ChargeHere, further solidifying Meta Bright’s ambitions in the charging point operator market. Building on this momentum, Meta Bright is currently in advanced negotiations to secure the next phase of EV charging sites in key strategic locations. Phang noted that the group’s expanding operational track record supports a disciplined growth strategy and underpins its dual focus on enlarging its renewable energy portfolio while contributing meaningfully to Malaysia’s green mobility agenda. Meta Bright ChargeSini now controls four high-traffic charging hubs, accelerating its role in Malaysia’s green mobility shift.

o Group strengthens foothold in Malaysia’s green transport sector through site acquisition

KUALA LUMPUR: Meta Bright Group Bhd’s 51%-owned subsidiary Meta Bright ChargeSini Sdn Bhd has signed novation agreements with ChargeHere EV Solution Sdn Bhd – effectively assuming full rights, operations, and revenue streams for four primary electric vehicle (EV) charging station projects. This marks a significant step forward in Meta Bright’s foray into the EV charging sector. The strategic novation agreement transfers operational control and commercial benefits for the EV charging stations located at high visibility properties, enabling the group to rapidly scale its presence in line with Malaysia’s National Energy Transition Roadmap (NETR). ChargeHere, operating under the ChargeSini brand, is Malaysia’s leading charging point operator with a network of 935 EV charging points nationwide. Through the novation, Meta Bright ChargeSini will

service income and profit-sharing models but also realises the full intent of the joint venture announced earlier in July. It accelerates Meta Bright’s ability to replicate and roll out similar successful projects across Malaysia. Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim described the novation as a key tactical move that significantly shortens time-to-market in Malaysia’s competitive EV landscape. He said that instead of starting from the ground up, the company has (through this arrangement), instantly secured EV charging stations in high traffic, strategic locations. “This move reinforces Meta Bright’s commitment to expanding its renewable energy business and

firmly establishes the group as an active and credible player in the

country’s green mobility transition.

take over complete management responsibilities including maintenance, operations, and

revenue collection, building upon the foundation laid by its joint venture partner. The transaction not only brings immediate commercial returns through

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