KUALA LUMPUR: Jati Tinggi Group Bhd (JTGroup) emerged as one of the most active stocks on Bursa Malaysia today after it entered into a memorandum of understanding (MoU) with Public Bank Bhd to install a photovoltaic (PV) solar panel system for the banking group.
The MOU was done via its wholly-owned subsidiary Jati Tinggi Holding Sdn Bhd.
It said the PV installation would involve 135 Public Bank branches, covering 333 lots of properties.
Jati Tinggit said the project, valued at RM14.880 million, would further accelerate Public Bank’s efforts to achieve carbon neutrality by 2030, with a broader target of net zero emissions by 2050, while strengthening its environmental, social, and governance (ESG) initiatives as a whole.
“The installation of solar panel systems across our branches represents a key component of our broader ESG strategy. We are delighted to join forces with Jati Tinggi, whose technical excellence ensures the success of this initiative.
“This project not only helps us reduce our carbon footprint but also supports our commitment to achieving our environmental goals,” said Public Bank managing director (MD) and chief executive officer Tan Sri Tay Ah Lek in a statement issued by Jati Tinggi.
Jati Tinggi MD Datuk Seri Lim Yeong Seong said the project not only highlights the company’s foray into renewable energy but also reinforces its commitment to leveraging “our expertise for environmental sustainability.”
“As we implement these solar solutions, we are excited to gradually enhance sustainable practices within the banking sector and explore further opportunities in solar energy,” he added.
The solar panel system installation is expected to commence in early 2025, with a completion target set within three years.
As of 10.25 am, JTGroup’s share price soared 6.5 sen, or 16 per cent, to 47 sen with 9.54 million shares traded. – BERNAMA
