24/06/2026

ESG WEDNESDAY | JUNE 24, 2026

10

HLB advances net-zero commitment

o Bank expands mangrove initiative to drive climate action and empower local communities

manufacturer Kuen Ling Machinery Refrigerating Co, Ltd, and supported by manufacturing bases across China, Taiwan, and Vietnam, has entered into a collaboration agreement with TTOP Industrial & Engineering Sdn Bhd (TIESB/TTOP) to jointly deliver high efficiency green-cooling solutions to Malaysia’s commercial and industrial building sector. The collaboration arrives as Bursa Malaysia Main Market-listed Meta Bright Group Bhd moves to complete its acquisition of a 70% stake in TTOP for a total consideration of RM9.29 million. Upon completion, the partnership will sit within Meta Bright’s integrated end-to-end energy services platform, KUALA LUMPUR: Following the recent launch of Phase 2 of the HLB Impact For Nature: Mangrove Rehabilitation and Restoration Project, Hong Leong Bank (HLB) has pledged to plant another 50,000 mangrove trees, bringing its total to 100,000 trees planted in collaboration with the Malaysia Nature Society (MNS). The project, which focuses on the rehabilitation of degraded land within the Kuala Selangor Nature Park (KSNP), aims to transform nutrient-depleted areas into thriving, carbon-capturing ecosystems, and forms a major milestone in the Bank’s plan towards achieving net zero operational carbon emissions by 2030. Often called “ecosystem engineers”, mangrove forests play a critical role as natural infrastructure for coastal protection, serving as efficient carbon sinks that are capable of “locking away” carbon up to four times higher than tropical forests. These forests are also able to mitigate the impact of storms and coastal erosion, and serve as vital breeding grounds for many commercially important tropical fish species, which in turn protects and supports local fishing communities. HLB group managing director and CEO Kevin Lam said: “As a financial institution, we have a collective responsibility with the industry to ensure that the businesses, customers, and communities we serve are resilient against the escalating risks of climate change, and this includes supporting tangible climate action and sustainable development initiatives. “We view Environment, Social and Governance (ESG) principles as a fundamental pillar of long-term value creation and risk

Banking & Finance “Our objective is to help Malaysian building owners move beyond conventional equipment replacement towards a more integrated energy efficiency model. This includes technology, financing, M&E execution and long-term performance support.” Jennie Cheung of JIDE Technology (M) Sdn Bhd said: “Advanced green technology only creates real value when it can be properly engineered, financed, installed and maintained. “This collaboration brings together JIDE’s green cooling solutions, Kuenling’s MagLev chiller technology, AI EOS optimisation and TTOP’s electrical engineering execution capability. management across our operations, and by integrating sustainability into our core strategy, we are ensuring that the economic growth we support today does not come at the expense of our environment tomorrow.” With this mangrove restoration programme, he added, they are bridging the gap between traditional banking and climate action, using their resources to build environmental and economic resiliency, reaffirming their value of being Here For The Long Term. The commencement of Phase 2 of the mangrove restoration programme signifies a shift from initial restoration to long-term ecosystem scaling, focusing on expanding carbon offset capacity and enhancing the biodiversity within KSNP. Phase 2 will also actively involve local communities in seed collection, nursery management, and planting. This initiative creates jobs, fosters long-term sustainable forestry skills, and empowers communities to play an active role in environmental conservation and economic development. HLB chief sustainability officer Chow Sheng Wai commented: “We are incredibly proud to see this project grow and expand, as it reflects our desire to give back to the environment and community in a way that truly matters. “At its core, our approach to ESG is about initiatives like this that directly generate sustainable impact while empowering the local community. “It is a privilege to contribute to the restoration of our natural ecosystem, and we hope to continue working closely with our partners and the community to do even more for the environment.” Meanwhile, MNS executive director I.S. Shanmugaraj

(From left) Shanmugaraj; Lam; Hong Leong Foundation executive director Quek Sue Yian; HLB Islamic CEO Dafinah Ahmed Hilmi and Chow plant mangrove saplings at the Kuala Selangor Nature Park.

“This partnership with HLB demonstrates how corporate commitment can drive the large-scale environmental recovery our planet urgently needs.”

are securing a critical defense against climate change and ensuring that this complex biodiversity remains resilient for generations to come.

Subramaniam remarked: “KSNP is a crown jewel of our coastal heritage, but its strength lies in its health and longevity. “By revitalising these areas, we

JIDE and TTOP collaborate on green cooling solutions KUALA LUMPUR: JIDE Technology (M) Sdn Bhd, the exclusive Malaysian agent for Taiwan’s Kuenling Air, which is backed by Taiwan-listed combining JIDE’s technology solutions, TTOP’s engineering execution footprint, and Meta Bright’s financial capacity as a listed corporate entity. Under the commercial framework, JIDE will supply Kuenling’s magnetic levitation (MagLev) chillers and AI Energy Optimisation Solutions (AI EOS), while TTOP contributes mechanical and electrical (M&E) execution capability. The “Zero Capex” EPC framework directly addresses initial financial barriers by allowing building owners to fund energy-efficient infrastructure upgrades entirely out of guaranteed utility savings over a multi-year concession period.

overall plant energy savings of 55% to 65% are achievable compared to conventional fixed-speed screw chillers. Kuenling’s regional retrofit track record includes major infrastructure assets such as Hong Kong International Airport and the IBM Beijing Data Centre, where a MagLev upgrade improved power usage effectiveness (PUE) from 1.8 to 1.3. Cheung said: “By combining Kuenling’s oil-free MagLev technology with AI EOS demand forecasting, we are able to provide building owners with verifiable energy savings. “Our EPC structure ensures these efficiency upgrades are entirely self funding, allowing commercial and industrial users to meet their sustainability targets and reduce operational overheads without upfront capital constraints.”

JIDE said the collaboration is intended to create a practical project delivery platform for customers seeking to reduce energy consumption, lower operating costs, and improve sustainability performance. Kuenling’s oil-free MagLev technology reduces chiller energy consumption by up to 50% using frictionless compressors. When paired with AI EOS software – which uses data analytics and deep learning demand forecasting to automatically adjust setpoints, pump operations, and cooling tower fans –

TTOP’s operational capacity is supported by an active secured contract book and Petronas licences spanning 15 work and equipment categories. Kuenling’s product range includes magnetic levitation chillers, centrifugal chillers, screw chillers, heat pumps and related air-conditioning equipment. The parties intend to deploy flexible commercial structures for building owners, including outright purchase, lease-to-own, and Energy Performance Contracting (EPC) models.

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