KUALA LUMPUR: Boustead Properties Bhd (BPB) hopes its partnership with Opus International (M) Bhd will make significant contributions to Malaysia's sustainable development agenda.
There are two parts to the partnership: an energy performance contract (EPC) and a memorandum of business exploration (MOBE).
BPB group chief executive officer Izaddeen Daud said the strategic collaboration between both parties represent how government-linked companies (GLCs) can work together to drive environmental, social, and governance (ESG) and sustainability through innovative solutions.
"This initiative aligns seamlessly with the Prime Minister's call to GLCs and government-linked investment companies to spearhead domestic investments aimed at bolstering the Malaysian economy. By leveraging our collective expertise, we are poised " he said in a statement.
The 10-year EPC is to upgrade and maintain the chiller systems at the district cooling plant in The Curve Mall, Mutiara Damansara.
According to BPB, there will be an estimated annual energy savings of 4.4 million kilowatt hours (kWh) per year, resulting in energy cost savings of RM2.3 million a year which represents a reduction of 38 per cent in energy consumption.
There will be a significant reduction in carbon emissions, with an estimated decrease of 3,432 tonnes of carbon dioxide equivalent.
The chiller's efficiency performance is also expected to improve from 1.24 kilowatts per refrigeration tonne (kW/RT) to 0.9 kW/RT.
MOBE, meanwhile, aims to explore future opportunities aimed at reducing BPB's carbon footprint and enhancing its environmental and climate risk mitigation strategies.
The anticipated outcomes include reduced energy consumption, lower operating costs, and a positive environmental impact through lower carbon emissions.
The scope of the MOBE extends across the Boustead group's property and industrial division's portfolio of current and future developments to implement energy-efficient strategies and integrate green and sustainable environmental solutions in the areas of energy-efficient building, built environment, building and facility management, project development and implementation, and collaboration for sustainable and smart city developments.
UEM Edgenta Bhd managing director and chief executive officer Syahrunizam Samsudin said that in an era where sustainability and ESG principles shape corporate agendas,
Opus International, a wholly-owned subsidiary of Opus Group Berhad which in turn is a wholly-owned subsidiary of UEM Edgenta stands as a catalyst for change, he said.
"With a legacy spanning three decades in Malaysia, our sustainability solutions have not only generated substantial savings but have also driven performance enhancements and augmented asset value for our clients.
"Our impact speaks volumes. Clients have achieved up to a 52 per cent reduction in electrical energy consumption, yielding over RM100 million in cumulative savings," Syahrunizam said.