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.