Meta Bright Group Bhd has proposed to acquire controlling stakes in four companies specialising in engineering, procurement, construction and commissioning (EPCC) services, as part of its strategy to expand into energy-related infrastructure.
In a filing with Bursa Malaysia on Friday, the group said the purchase consideration will be negotiated and agreed upon at a later stage. The proposed acquisitions follow a heads of agreement signed with vendor Teo Hin Wee, under which Meta Bright plans to take majority stakes in TTOP Industrial & Engineering Sdn Bhd, Sangga Tiga (KL) Sdn Bhd, Flexitop Industrial & Engineering Sdn Bhd, and Green Core Consortium Sdn Bhd.
Teo currently holds a direct 70% stake in TTOP and 51% in Flexitop, along with an indirect 60% interest in Sangga Tiga and full ownership of Green Core. Meta Bright has been granted a six-month exclusivity period to conduct due diligence before finalising the proposed transactions.
The company said the four target firms possess EPCC capabilities and relevant industry certifications. One of the subsidiaries is also registered with Petroliam Nasional Bhd (Petronas) to supply and install specialised equipment designed for hazardous environments, strengthening the group’s potential participation in energy-related projects.
Meta Bright noted that the proposed acquisitions represent a strategic shift from being primarily an asset owner to becoming a broader energy infrastructure and energy efficiency solutions provider. By integrating engineering capabilities, the group aims to execute projects directly, manage development costs more effectively, and capture greater value across the project lifecycle.
Executive director of corporate and strategic planning Derek Phang Kiew Lim said the move would enable the company to undertake end-to-end project execution, including renewable energy developments, battery storage systems, electric vehicle infrastructure, and electrical engineering works.
Shares in Meta Bright rose half a sen, or 3.9%, to close at 13.5 sen on Friday, giving the company a market capitalisation of approximately RM366.4 million.
