Meta Bright Group Berhad (MBRIGHT, 2097), formerly known as Eastland Equity Berhad, has established itself as a prominent player in the hotel and real estate industries. Following its rebranding, the company has undergone significant structural changes, marked by strategic acquisitions that have propelled its growth trajectory.

At the core of the company's ethos lies the acronym META (Magnificent, Efficiency, Team Work, and Astute), symbolizing its unwavering dedication to fostering a corporate culture rooted in excellence and collaboration.

In August 2022, MBRIGHT witnessed a pivotal shift in its ownership structure, coinciding with an upsurge in stock performance. The infusion of new stakeholders catalyzed visible transformations within the organization, paving the way for expanded ventures and strategic acquisitions.

Presently, MBRIGHT has diversified its portfolio to include various sectors, such as energy, industrial investment, and leasing & financing. However, our focus today lies on MBRIGHT's energy business, which has unveiled significant developments in the renewable energy domain.

In today’s announcement, MBRIGHT revealed the commencement of commercial operations at its solar project under the Solar PV Zero Capex Programme for Sinergi Perdana Sdn Bhd. Spearheaded by its subsidiary FBO Land (Setapak) Sdn Bhd, the 401.76kWp solar project is underpinned by a 21-year renewable energy supply agreement, offering Sinergi Perdana a competitive discount on electrical tariff rates.

This initiative not only underscores MBRIGHT's commitment to renewable energy but also highlights its dedication to environmental sustainability. Notably, the project is estimated to reduce approximately 380.81 tonnes of CO2 emissions annually, aligning with global efforts to combat climate change.

For the record, Sinergi Perdana is a company owned by the Rubber Industry Smallholders Development Authority (RISDA) under the Ministry of Rural and Regional Development.

Looking ahead, MBRIGHT aims to further expand its footprint in the renewable energy sector, with ongoing exploration of projects in the commercial and industrial segment valued at RM34.7 million. Moreover, the company has completed installations worth RM3.55 million and is actively engaged in projects totaling around RM11.89 million.

In conclusion, MBRIGHT remains optimistic about its prospects in the renewable energy landscape. Through initiatives like the Solar PV Zero Capex Program, the company demonstrates its commitment to fostering sustainable practices while driving value for stakeholders. As it continues to expand its renewable energy portfolio, MBRIGHT reaffirms its dedication to environmental, social, and governance (ESG) principles, positioning itself as a beacon of sustainable growth in Malaysia's corporate landscape.

Considering MBRIGHT's remarkable strides in renewable energy, don't you think MBRIGHT is undervalued at its current share price?