EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Monday, January 25, 2021
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription
Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

uLearnMONEY


Company inks RM12 mil renewable energy deal with solar provider

by moneycompass
November 25, 2020
in Local Corporate News
0
solar photovoltaic energy deal
Share on FacebookShare on Twitter

KUALA LUMPUR – One of Malaysia’s largest producer of material handling products, Mah Sing Plastics Industries (MSPI) has awarded a RM12 million solar photovoltaic (PV) installation project to leading clean energy provider, Plus Solar Systems Sdn Bhd (Plus Solar), to outfit MSPI’s smart factory in Klang.

MSPI is fast-tracking the implementation of their sustainable manufacturing agenda. This is in line with the Budget 2021 focus on sustainability as one of its four broad themes.

The first phase of PV installations was completed in 2020 and has gained savings of 7% per annum in electricity bills. The second phase of PV installations will commence early 2021.

“The Malaysian government’s incentives for sustainability has made it much easier for companies like MSPI to move towards renewable energy through solutions like PV installations.

“The Green Investment Tax Allowance (GITA) allows us to claim 100% of this investment upon filing our tax submissions. This effectively works out to be a 24% savings based on the given corporate tax rate. With GITA, the Net Energy Metering (NEM) scheme and the monthly savings on electricity bills, we anticipate that this PV installation will pay for itself in 4 years. The quick rate of return makes this a really sound investment,” said Executive Director of Mah Sing Plastics Industries Lee Foo Keong.

The partnership with Plus Solar will bring MSPI closer to their Environmental, Social and Corporate Governance (ESG) goals which aligned with their sustainable manufacturing agenda.

With their plastic products, MSPI aims to have lower environmental impact in every phase of their life cycle which includes production, distribution, transportation, waste collection, treatment and end-of-life disposal

“We are proud to have earned the trust of Mah Sing Plastics, and to be a part of their transition towards clean energy,” said Ko Chuan Zhen, CEO and founder of Plus Solar Systems Sdn. Bhd.

He also says that Plus Solar is continually building their total installed capacity, with plans of overseas expansion. He adds that these partnerships are a part of their larger agenda of driving the next energy revolution.

“Mah Sing’s multiple investments into clean energy is expected to offset a total of 2,936 metric tonnes of carbon dioxide, equivalent to planting 14,680 trees. This is a step in the right direction for all corporates aiming to embrace sustainability as one of their core competencies,” Ko further added.

Additionally, with the right investments in machines, cloud computing and analytics, Mah Sing Plastics is fast-tracking its implementation of becoming a Smart Factory in the years to come.

“MSPI has leveraged technology and digitalization to improve operational efficiency, which includes automation to improve quality checks. With our further planned adoption of IR4.0, we strive to stay competitive by converting our facilities to smart factories,” says Lee.

Read more: Deputy minister urges SMEs to obtain Made in Malaysia logo to boost consumer confidence 

Tags: Mah SingPlus Solarzero net economy
ShareTweetShareSendSend
Previous Post

Bank launches Smart City Sustainable Finance Framework to help more companies

Next Post

Bursa Malaysia Securities publicly reprimands and/or fines PASDEC Holdings Berhad & former group managing director

Related Posts

auto insurance
Local Corporate News

NickMetrics expands into Auto Insurance

25 Jan 2021
Bitcoin
Local Corporate News

Goobat.care becomes first Malaysian pharmacy to accept Bitcoin

25 Jan 2021
anti-bribery, government
Local Corporate News

Government reallocates RM15bil for extra assistance

25 Jan 2021

Discussion about this post

loader

MOST POPULAR

  • market overview US

    How to Start Trading on the Malaysian Stock Market

    5 shares
    Share 5 Tweet 0
  • 10 Ways to Curb Overspending

    1 shares
    Share 0 Tweet 0
  • 4 Ways to Earn Side Income Online During MCO

    67 shares
    Share 67 Tweet 0
  • Company launches innovative new in-app booking for COVID-19 Home Swab Tests

    0 shares
    Share 0 Tweet 0
  • Government could reevaluate GST, improve its implementation

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

loader

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

loader

Career