Mah Sing Plastics awards RM12m deal to Plus Solar

KUALA LUMPUR: Mah Sing Plastics Industries Sdn Bhd (MSPI) has awarded a RM12 million solar photovoltaic (PV) installation project to clean energy provider Plus Solar Systems Sdn Bhd (Plus Solar) to outfit MSPI’s smart factory in Klang, Selangor.

Executive director Lee Foo Keong said the first phase of PV installations was completed this year and it has gained savings of 7% a year in electricity bills while the second phase of PV installations will begin in early 2021.

“The Green Investment Tax Allowance (GITA) allows us to claim 100 per cent of this investment upon filing our tax submissions.

“This effectively works out to be a 24 per cent savings based on the given corporate tax rate. With GITA, the Net Energy Metering scheme and the monthly savings on electricity bills, we anticipate that this PV installation will pay for itself in four years,” he said in a statement yesterday.

Lee said the partnership with Plus Solar will bring MSPI closer to their environmental, social and corporate governance goals which are aligned with their sustainable manufacturing agendas.

Meanwhile, Plus Solar chief executive officer and founder Ko Chuan Zhen said Mah Sing’s multiple investments in clean energy are expected to offset a total of 2,936 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,” he added. - Bernama