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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 equip MSPI’s smart factory in Klang, Selangor.
CEO Lee Foo Keong said that the first phase of PV installations was completed in 2020 and has seen savings of seven percent per year on electricity bills, while the second phase of PV installations will begin in early 2021.
“The Green Investment Tax Relief (GITA) allows us to claim 100 percent of this investment when filing our tax filings.
“This effectively results in a 24 percent 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 today in a statement.
Lee said the partnership with Plus Solar will bring MSPI closer to its corporate governance, social and environmental goals that are aligned with its sustainable manufacturing agenda.
“With its plastic products, MSPI aims to have a lower environmental impact in each phase of its life cycle that includes production, distribution, transportation, waste collection, treatment and disposal at the end of its useful life,” he added.
Meanwhile, Plus Solar CEO and founder Ko Chuan Zhen said Mah Sing’s multiple investments in clean energy are expected to offset a total of 2,936 metric tons of carbon dioxide, equivalent to planting 14,680 trees.
“This is a step in the right direction for all companies that aspire to embrace sustainability as one of their core competencies,” he added. – Bernama
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