Boustead Properties Berhad and Opus International (M) Berhad Forge Strategic Partnership for Sustainable Energy Solutions

Petaling Jaya, 12 March 2024 – In a strategic collaboration that demonstrate the synergy between prominent government-linked companies (GLCs), Boustead Properties Berhad (Boustead Properties) and Opus International (M) Berhad (Opus), backed by UEM Edgenta Berhad, have joined forces in advancing the nation’s sustainability and innovation agenda, in a signing ceremony held yesterday.

The cornerstone of this collaboration is the signing of an Energy Performance Contract (EPC) between Boustead DCP Sdn Bhd, a subsidiary of Boustead Properties, and Opus Energy Sdn Bhd (a subsidiary of Opus International). This 10-year contract indicates a firm commitment to upgrading and maintaining chiller systems at the district cooling plant in The Curve Mall, Mutiara Damansara. The aim is to significantly reduce energy consumption and operating costs while providing environmentally sustainable solutions. This endeavour aligns with Boustead Properties’ commitment to sustainability and Environmental, Social and Governance (ESG) practices through the company’s BIJAU Sustainability Agenda, which places a firm emphasis on Green Building and Township development.

The benefits of the EPC contract are substantial, with estimated annual energy savings of 4.4 million kWh/year, resulting in energy cost savings of RM2.3 million per year. This represents a remarkable reduction of 38% in energy consumption. Additionally, the partnership anticipates a significant reduction in carbon emissions, with an estimated 3,432 tCO2e decrease. The chiller efficiency improvement from 1.24 to 0.9 kW/RT further underscores the effectiveness of the sustainable energy solutions implemented through the EPC.

Complementing the EPC signing is the Memorandum of Business Exploration (MOBE), symbolising a commitment to exploring future opportunities aimed at reducing Boustead Properties’ carbon footprint and enhancing its environment and climate risk mitigation strategies. The scope of the MOBE extends across the Boustead Group’s Property and Industrial Division’s portfolio of current as well as future development and assets to implement energy-efficient strategies and integrated green and sustainable environmental solutions in the areas of energy efficient building, built environment, building and facilities management, project development and implementations, collaboration for sustainable and smart city developments.

Witnessing the signing ceremony were key executives from both companies, including

En Izaddeen Daud, Group Chief Executive Officer of Boustead Holdings Berhad and

En Syahrunizam Samsudin, Managing Director and Chief Executive Officer of UEM Edgenta Berhad, highlighting the collective commitment towards driving positive change and fostering long-term sustainability within the GLC sector.

En Izaddeen Daud emphasised the significance of cooperation among Government-Linked Companies (GLCs) for sustainability within the sector. He stated, “The strategic collaboration between Boustead Properties and Opus International represents how government-linked companies (GLCs) can work together to drive ESG and sustainability through innovative solutions. At the heart of this collaboration lies a commitment to driving positive change and fostering long-term sustainability. This initiative aligns seamlessly with the Prime Minister’s call to GLICs and GLCs to spearhead domestic investments aimed at bolstering the Malaysian economy. By leveraging our collective expertise, we are poised to make significant contributions to Malaysia’s sustainable development agenda.”

Reflecting on the transformative potential of collaboration, En Syahrunizam Samsudin remarked, “In an era where sustainability and ESG principles shape corporate agendas, Opus Consultants stands as a catalyst for change. 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% reduction in electrical energy consumption, yielding over RM100 million in cumulative savings. Moreover, our interventions have facilitated carbon emission reductions exceeding 31,200 tCO2. As we witness the paradigm shift towards sustainability, we encourage more Malaysian.

Companies and GLCs to embrace green initiatives, leading the charge towards a future marked by resilience and environmental stewardship.”

Looking ahead, this collaboration between Boustead Properties and Opus paves the way for significant progress towards a more sustainable future. The anticipated outcomes include reduced energy consumption, lower operating costs, and a positive environmental impact through lower carbon emissions. The MOBE signifies a commitment to explore further opportunities to implement innovative green solutions across Boustead Properties’ portfolio, setting a new standard for sustainable development in Malaysia.

The partnership underscores a shared commitment to sustainability, with Opus’ expertise in energy efficiency complementing Boustead Properties’ dedication to environmental stewardship. Together, they aim to maximise savings, reduce carbon emissions, and align operations with ESG and industry best practices.

About Boustead Properties Berhad

Boustead Properties Berhad (“Boustead Properties” or the “Company”) is part of Boustead Holdings Berhad, one of the nation’s oldest conglomerates. Boustead Properties’ core business activities are property development, property management, retail, and investment.

The Company is the master developer of Mutiara Damansara township and has a strong presence in Skudai, Johor through its mixed residential development, Mutiara Rini. Boustead Properties is currently undertaking a 1,200 acres flagship development, Mutiara Hills in Semenyih. Boustead Properties developed and owns the Curve, Malaysia’s first pedestrianised shopping mall located in Mutiara Damansara.

About Boustead DCP Sdn Bhd

Boustead DCP Sdn Bhd is a wholly owned subsidiary of Boustead Properties Berhad to produce and supply chilled water for air conditioning.

The company owns and operates the District Cooling Plant located within the Curve Mall in Mutiara Damansara, serving Boustead Properties’ assets in Mutiara Damansara including the Curve Mall, Curve NX and Royale Chulan The Curve Hotel.

About Opus Energy Sdn Bhd

Opus Energy Sdn Bhd is a leading energy efficiency and sustainability company in Malaysia. As part of UEM Edgenta, the company offer a complete range of sustainability solutions, covering energy efficiency, green buildings to renewable energy.

The Company end-to-end EE and sustainability solutions cover consultancy and advisory services, comprehensive energy audits, EE solutions, Energy Performance Contracting (EPC), Green Performance Contracting (GPC), project management and implementation, performance measurement monitoring and maintenance across various industries and sectors.

About Opus International Malaysia Berhad

Opus International (M) Sdn Bhd, also known as Opus Consultants, is a wholly owned subsidiaries of UEM Edgenta, stands as Malaysia’s leading engineering, project management and asset management consultancy firm. With over three decades of expertise and distinguished track record, Opus Consultants has successfully delivered large scale infrastructure projects across diverse sectors.

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