Smart Investor Malaysia

Mah Sing Plastics Inks RM12 Mil Renewable Energy Deal With Plus Solar

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp

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.

“Plus Solar has proven to be one of the strongest energy partners to work with. Their consultative approach, high levels of professionalism and vast body of experience has made our transition to sustainable energy a very smooth journey.

 “The team has been a pleasure to work with; they are very driven and more importantly, provide prompt and efficient customer service,” Lee further added.

 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.

About PLUS SOLAR SYSTEMS SDN BHD

Plus Solar Systems Sdn Bhd is the nation’s leading total clean energy solutions company with a track record of over 200MWp. Driven by the vision of transforming the electricity consumption pattern of people through the Energy Trilogy, which consists of Energy Generation, Energy Efficiency and Energy Storage, Plus Solar Systems was established in 2013 to provide turnkey solutions-engineering, procurement, construction and commissioning (EPCC) services to fulfil the current needs of the market.

In 2015, it subsequently developed a solar farm as an investor. As a total clean energy solutions provider, it provides integrated solutions with state-of-the-art technology systems and cost-effective financing options to fulfil society’s every need of clean energy. Today, Plus Solar has offices in Kuala Lumpur, Penang, Johor and Perak. It has repeatedly received recognition as a reputable award-winning brand, clinching these coveted title such as the: Gen. T Asia List 2020, EY Entrepreneur Of The Year Malaysia – Emerging Entrepreneur 2019 and the Star Outstanding Business Award (SOBA)'s Young Entrepreneur of the Year 2019 amongst others www.plus-solar.com.my

[In the picture : Ko Chuan Zhen, CEO and founder of Plus Solar Systems Sdn. Bhd.]

About Mah Sing Plastics

Mah Sing Plastics Industries Sdn. Bhd. (MSPI) was incorporated in Malaysia in 1979 and is a wholly-owned subsidiary of Mah Sing Group Bhd., a company listed on the Main Board of Bursa Malaysia.

Mah Sing Plastics is a market leader in plastic pallets, offering a range of pallets suitable for a wide range of use including in the food and beverage, electronic and electrical, chemical and pharmaceutical, paper and printing industries. The pallets are lightweight, safe and easy to handle and cost effective.

Its manufacturing processes strictly adhere to the code of good manufacturing practices and quality control programs. MSPI has been ISO9001 certified since June 2000 and ISO14001 certified since March 2007.

MSPI is also certified by customers as an Eco-Partner affiliate company which fulfils the standards for control of substances with environmental impact within products and has established a stable environmental quality control system.

[In the picture: Lee Foo Keong, Executive Director of Mah Sing Plastics Industries]

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp

Recent Posts

Related Posts

Smart Investor Newsletter

Get Our Latest Articles And More Delivered To Your Inbox!