As the year of the dragon dawns upon us in 2024, the financial landscape is abuzz with optimism, mirrored by the commendable performance of the FBMKLCI index, which gracefully wrapped up the week at 1533.55 points.

Amidst this financial renaissance, it’s the perfect moment to fine-tune our investment portfolios, gearing up for the unfolding year. Today, let’s delve into the intriguing world of Meta Bright Group Berhad, a stock that defies conventional labels and sparkles with potential.

Now, before you raise an eyebrow at the mention of a “property stock,” let me clarify. Meta Bright, formerly known as Eastland Equity Berhad, might paint the picture of a property-centric enterprise with its crown jewel, the Grand Renai Hotel in Kota Bharu, and its ventures into property development with Bandar Tasek Raja and the Damai Project.

However, the real allure of Meta Bright extends far beyond bricks and mortar.

The transformative wave swept through Meta Bright’s corridors in 2021, with a fresh management team and a strategic shift in its substantial shareholders. This marked the beginning of a new era, with the company successfully amassing RM87.0 million by 2022 for its ambitious restructuring plans.

The fruits of these endeavours were soon evident, as Meta Bright heralded a return to profitability, maintaining a commendable streak over 8 consecutive quarters since Q1FY2022.

What’s the secret sauce behind Meta Bright’s resurgence, you ask?

A strategic pivot in 2022 redefined its trajectory. While still nestled under the “Travel, Leisure & Hospitality” category by Bursa Malaysia, Meta Bright is ingeniously carving out a niche in the energy sector, focusing on renewable solutions like solar energy and energy efficiency services.

The game-changer, however, might just be the company’s foray into equipment leasing, particularly with Mt Cuthbert Resources Pty Ltd in Australia’s rich copper mining landscape. This venture is not just promising but potentially transformative, with a combined leasing deal alone poised to inject A$223,000 (approximately RM693,000) in monthly revenue, accounting for a significant 20–25% of Meta Bright’s total revenue.

With an eye on the future, Meta Bright is steadily amassing a portfolio of energy projects characterised by their recurring revenue streams, laying a solid foundation for sustainable cash flow and future acquisitions.

The recent strategic move to acquire a stake in Expogaya Sdn Bhd (EXPO) is a testament to this vision, promising to infuse fresh capital for EXPO’s booming building materials business in Sabah, while also securing a steady profit after tax (PAT) contribution to Meta Bright’s coffers.

So, why did Meta Bright choose a blend of subscription and direct purchase in its deal with EXPO? It’s a strategic play to inject fresh capital into EXPO for immediate growth while aligning long-term interests through a shared equity stake, promising a win-win for both entities.

In essence, Meta Bright is not just another asset-heavy company lost in the vast sea of the stock market. It’s a vibrant, cash-generating powerhouse that’s quietly making waves, overlooked by many due to its asset-rich facade.

With its share price currently sitting attractively at RM0.180, down from a 52-week high of RM0.265, the question isn’t just why Meta Bright is in my portfolio for 2024, but why it isn’t in yours, too.