PRG looking to install more EV stations

SEPANG: PRG Holdings Bhd, a company involved in property development, construction and manufacturing is investing an undisclosed amount in providing electric vehicle charging stations over a two year period as part of its corporate social responsibility (CSR) initiative.

The company kicked off its plan, which lack details of implementation, with a memorandum of collaboration (MoC) with SunSuria Bhd’s subsidiary for one station at Sunsuria City.

When asked of the rationale behind its move, PRG’s managing director (property and construction) Datuk Alex Wee Cheng Kwan said it was part of its green initiative to promote sustainable mobility through alternative methods, while also aiming to reduce car emissions in the country.

As part of this initiative, PRG Holdings Bhd is looking to deploy some 20 to 30 Electric Vehicles (EV) charging stations at various locations.

For starters, PRG via its subsidiary Premier Electrify Sdn Bhd has deployed an EV charging station at Sunsuria City in Sepang, which is one of the areas of focus for the installation of these stations.

The company intends to install more units within the vicinity of its own development projects namely Picasso Residence in Jalan Jelatek and a residential apartment project in Subang U5, other parts of Sunsuria City, the Klang Valley and beyond.

“Going forward we do not discount the possibility to work with highway operators, petrol stations, mall owners, car dealers, national airports and commercial buildings for such initiative,” Wee said.

The charging stations are sourced from Tan Chong Group’s First Energy Networks Sdn Bhd and can cost up to RM12,000 per unit.

Under the MoC with Sunsuria City Sdn Bhd, Premier Electrify will install a charging station at its own cost and Sunsuria City will bear the cost of electricity and provide the space measuring to the size of one parking bay for the set up.

Customers will not be charged for utilising the charging station to charge their vehicles.

Currently, there are 155 charging points nationwide, with expectation to be increased to 300 by year-end.

PRG’s shares closed at RM1.00 yesterday, 4.2% higher than the previous day’s closing price of 96 sen.

The group saw its net profit dip by 43.3% to RM891,000 in the first quarter ended March 31, as compared with RM1.57 million in the preceeding year’s corresponding quarter, largely due to higher taxation.

Backed by its manufacturing segment, PRG’s revenue for the last quarter grew by 10.9% to RM34.4 million from RM31.0 million.