SELANGOR, 03 September 2024 – Synergy ESCO (Malaysia) Sdn. Bhd. (“Synergy ESCO” or the “Company”), a leading provider of energy-saving solutions and a subsidiary of the Hong Kong-listed Unity Group Holdings International Limited (“Unity Group” or the “Group”, stock code: 1539.HK), has achieved a significant milestone in its Malaysian operations. The Company has entered a strategic partnership with Malayan Banking Berhad (“Maybank”), Malaysia’s largest financial institution, and secured bank facilities of RM50,000,000 (around HKD 90 million) for its portfolio of Environmental, Social, and Governance (ESG)-aligned energy efficiency projects nationwide on August 24, 2024. The collaboration underscores Unity Group’s commitment to further expand its presence in Malaysia, and fully ramp up the delivery of energy-efficient solutions to strata and commercial properties, and promoting environmental sustainability with the Malaysian government
“We are thrilled about the prospects that this collaboration with Maybank, the largest bank in Malaysia, presents,” said Mansfield Wong, Chairman and Chief Executive Officer of Unity Group. “This partnership endorses our ESG footprints in Malaysia and make meaningful financial support to “turbo-charged” our implementation of efficient and sustainable energy solutions to our clientele and the environment”, he elaborated.
Lyana Jessie Lim, Client Coverage Managing Director, Maybank said, “We anticipate that this first batch of funding will enable the Unity Group to expand its services to a broader range of stratified and commercial buildings across the nation.” She further remarked, “This collaboration marks a significant milestone in advancing sustainable development goals and demonstrates both the Unity Group and Maybank’s dedication to driving positive change in impact in Malaysia’s energy landscape, aligned with the Bank’s myimpact commitment to reinforce and expand values-based and sustainable solutions in our offerings”.
The partnership was first officially announced during Synergy ESCO’s “The Rise of Green ESG” event, which was attended by representatives from Maybank, Selangor Housing and Property Board
(Lembaga Perumahan dan Hartanah Selangor [LPHS]), Subang Jaya City Council (Majlis Bandaraya Subang Jaya [MBSJ]) and Ampang Jaya Municipal Council (Majlis Perbandaran Ampang Jaya [MPAJ]) on August 24, 2024.
The event also celebrated the achievements of Strata Properties under the purview of MBSJ and MPAJ, honoured with “The Green Pioneer” award in recognition of their support for the program and their commitment to environmental sustainability. Over the past twelve months, Synergy ESCO has been partnered with LPHS to reduce carbon emission for the Selangor state, known as “The Green Initiative Programme” the conversion of 6,000 stratified condominiums to Unity Group’s LED lights.
This program offered by the Group has already significantly benefited numerous strata condominiums in Selangor with the deployment of our proprietary Ultra High Energy-Efficiency LED lights. This initiative aligns with Selangor’s Sustainable Development Goals for carbon neutrality by 2035, not only delivering hassle-free savings to clients but also contributing substantially to reducing carbon emissions.
To date, the Company has successfully deployed approximately 500,000 high energy-efficient LED lights, which is approximately 8.33% of our total target in Selangor, Malaysia. We have achieved energy savings of up to 72%. Our proprietary LED lights boast a lifespan of 150,000 hours at a defect rate of 0.01%, significantly contributing to the reduction of carbon emissions, labours, and wastages in support of Malaysia’s goals to achieve carbon neutrality by 2050.
