Boustead Properties Bhd is stepping forward in its commitment to sustainability and environmental stewardship by entering into a strategic partnership with Opus International (M) Bhd, a subsidiary of UEM Edgenta Bhd. This collaboration, announced on March 11, marks a significant milestone in the promotion of sustainable energy solutions within the Malaysian real estate sector, showcasing how government-linked companies (GLCs) can lead by example in the adoption of Environmental, Social, and Governance (ESG) practices.
The partnership is structured around two key agreements: an Energy Performance Contract (EPC) and a Memorandum of Business Exploration (MOBE). These agreements are designed to not only enhance energy efficiency but also to pave the way for a broader implementation of sustainability initiatives across Boustead Properties’ operations.
The EPC agreement focuses on a 10-year plan to upgrade and maintain the chiller systems at the district cooling plant in The Curve Mall, Mutiara Damansara. This initiative is expected to yield an impressive annual energy savings of 4.4 million kilowatt-hours (kWh) and financial savings of RM2.3 million per year, translating to a 38% reduction in energy consumption. Moreover, the project is projected to significantly reduce carbon emissions by approximately 3,432 tonnes of carbon dioxide equivalent (tCO2e) annually, demonstrating a strong commitment to reducing the environmental impact of business operations.
The MOBE further solidifies the partnership’s commitment to exploring future opportunities that can contribute to reducing Boustead Properties’ carbon footprint and enhancing its environmental and climate risk mitigation strategies. Through this agreement, the partners aim to identify and implement energy-efficient strategies and green environmental solutions across Boustead Properties’ extensive portfolio. The expected outcomes include not only reduced energy consumption and operating costs but also a substantial positive impact on the environment through decreased carbon emissions.
Representatives from both Boustead Properties and UEM Edgenta have expressed their enthusiasm for the collaboration, highlighting its alignment with national sustainability goals and the potential for significant contributions to Malaysia’s sustainable development agenda. Izaddeen Daud, Group CEO of Boustead Holdings, emphasized the collaboration’s role in driving positive change and fostering long-term sustainability. Meanwhile, UEM Edgenta’s MD and CEO, Syahrunizam Samsudin, pointed out the transformative impact of sustainability solutions on corporate performance, asset value, and environmental stewardship.
This partnership between Boustead Properties and Opus International is a prime example of how strategic collaborations can advance sustainability goals within the corporate sector, encouraging other Malaysian companies and GLCs to follow suit. Through innovative solutions and a shared commitment to ESG principles, Boustead Properties and Opus International are setting a new standard for responsible and sustainable business practices in Malaysia.
