SELANGOR, 6 October 2023 – LBS Bina Group Berhad (“LBS”), a renowned people’s developer and its subsidiary, MGB Berhad (“MGB”) (collectively known as the “Group”), a construction and property development solutions provider are delighted to announce an upcoming strategic collaboration with the Malaysia Green Technology and Climate Change Corporation (“MGTC”), an agency under the Ministry of Natural Resources, Environment, and Climate Change, mandated to drive the country’s efforts in Green Growth, Climate Change Mitigation, and Green Lifestyle.
This collaboration will establish a consortium comprising LBS, MGB, Midwest Green Sdn Bhd (“MWG”), and MGTC, with the primary objective of revolutionising the solar energy landscape by integrating cutting-edge green technologies into the next evolution of solar farming encompassing Carbon Capture Storage (CCS), crop cultivation, and water harvesting. This consortium represents a significant advancement in the field of renewable energy while simultaneously promoting the development of innovative large-scale solar programs.
The exchange of the Letter of Intent (“LOI”) occurred during the International Greentech & Eco Products Exhibition & Conference Malaysia 2023, held at the Kuala Lumpur Convention Centre. LBS was represented by its Executive Chairman, Tan Sri Ir. Lim Hock San, while MGB was represented by its Group Managing Director, Datuk Wira Joey Lim Hock Guan, and MGTC was represented by Ts. Shamsul Bahar Mohd Nor, the Group Chief Executive Officer. Additionally, Dato’ Alvin Lam Lip Shyan and Datuk Edward Chew Chun Hoe acted as representatives for MWG. The event was witnessed by YB Dato’ Sri Huang Tiong Sii, the Deputy Minister of Natural Resources, Environment, and Climate Change, in the presence of Mr. Lim Chin Siu, the Group Managing Director of Solarvest Holdings Berhad, and Mr. Windsor Khor Thiam Seng, its Head of Commercial Utilities Director.
LBS Executive Chairman, Tan Sri Ir. Lim Hock San, who also serves as the Executive Vice Chairman of MGB, commented, “We are thrilled to embark on this new era of sustainable energy with MGTC. Our group, bolstered by its expertise, stands at the forefront of the solar farming sector. Together, we are shaping a future where renewable energy is not merely a conceptual idea but a tangible and environmentally friendly reality. Our unwavering commitment to holistic sustainable development and environmental responsibility is our greatest strength in this endeavor.”
With Solarvest Holdings Bhd (“Solarvest”) as our preferred Engineering, Procurement, and Construction (“EPC”) Contractor, the consortium’s ambitious plans for large-scale programs have been meticulously crafted to redefine industry standards and provide a roadmap for a greener, more sustainable future.
“This collaboration seamlessly aligns with the Group’s commitment to advancing our organization’s journey to achieve Environmental, Social, and Governance (ESG) goals and enhance sustainability efforts. Simultaneously, it positions us within the framework of the Malaysian Government’s Energy Transition Roadmap. We are laying the foundation for a greener and more sustainable Malaysia for the next generation,” added Tan Sri Ir. Lim Hock San.
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