Meta Bright Group Bhd is acquiring a 70% stake in TTOP Industrial & Engineering Sdn Bhd (TIESB) for RM9.29 million as part of its expansion into higher-margin electrical engineering services.
The acquisition will be funded through RM1 million in cash and RM8.29 million via the issuance of 51.8 million new shares priced at 16 sen each, according to the group’s statement on Wednesday.
The deal includes a cumulative profit guarantee of RM15 million over five years.
This follows a Heads of Agreement signed in March with vendor Teo Hin Wee to acquire stakes in several electrical engineering-related businesses, including TIESB.
TIESB specialises in low- to high-voltage electrical works for distribution and transmission services, supporting industrial plants and commercial facilities across maintenance, upgrading and expansion projects.
Meta Bright, formerly known as Eastland Equity Bhd, said the acquisition marks a strategic move to transform the group from a green energy asset investor into a fully integrated energy solutions provider.
The group said the acquisition would enable it to expand beyond conventional solar projects into higher-margin segments such as substation design, EV charging infrastructure, transmission engineering solutions and electrical infrastructure maintenance.
TIESB currently has an active secured contract book worth RM23.6 million. The company also holds several Petronas licences covering 15 categories of work and equipment, including a Petronas Sarawak Bhd licence, which broadens its project opportunities in East Malaysia and the oil and gas sector.
Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said the acquisition strengthens the group’s position in the fast-evolving energy transition space.
“The global energy landscape is changing quickly, and the push for energy transition is stronger than ever. By bringing TIESB into the group, Meta Bright is no longer just investing in renewable and energy efficiency assets; we are now a complete service provider capable of handling electrical-related projects,” he said.
The acquisition is expected to be completed in the fourth quarter of 2026.
