AGAPE ATP Corporation Explores Energy-Saving Solutions with B&H Intec Solution
KUALA LUMPUR, June 21, 2024 - (ACN Newswire) - NASDAQ-listed AGAPE ATP Corporation ("ATPC"), is delighted to announce the relaunch of its subsidiary, now named ATPC Green Energy Sdn. Bhd. (“ATPC Green Energy”). ATPC had entered into a collaboration agreement yesterday, with B&H Intec Solution Sdn Bhd (“B&H”), a total building solutions provider, with a focus on delivering comprehensive energy-saving solutions, aligning with ATPC’s commitment to driving green energy initiatives.
From left: Vincent Tan, Vice President of ATPC, Ting Wan Lock, Head of Corporate Finance, and Prof Dato' Sri Dr How Kok Choong, Founder and Global Group CEO of ATPC; and Chen Wei Kent, CEO of B&H, Chung Wooi Hen, Sales Director of B&H and Khor Hock Thong, Marketing Director of B&H
B&H brings over 14 years of experience in facilities mechanical and electrical (M&E) services, specialising in building tailored green retrofits and building maintenance. The company has a portfolio of more than 1,000 customers in Malaysia, including luxury hotels, major banks, transportation hubs, government buildings, office towers, mega shopping malls, and healthcare centres. Known for integrating the latest sustainable technologies into building management solutions, B&H’s expertise in monitoring systems, energy-saving retrofit and upgrading, preventive maintenance service, energy-saving consulting and outsourcing services will be instrumental to ATPC Green Energy. Accumulatively, B&H has already achieved contract values of more than USD 10 million (approximately MYR 47 million), underscoring their capability and trust within the industry.
Mr. Chen Wei Kent, Chief Executive Officer (“CEO”) of B&H said, “The potential in the energy-saving space is vast and untapped. Matching the right M&E services to different companies can result in a substantial reduction in energy consumption, or in other cases, a comprehensive green retrofit solution can improve a building’s energy efficiency and reducing its carbon footprint.
“The collaboration with ATPC will raise our profile, and it will allow us to continue to support more companies in achieving their energy-saving goals. With Malaysia's energy demand projected to increase by 4.8% by 2030 and electricity demand growing faster than primary energy production, the need for alternative energy sources and energy-saving measures is urgent. In 10 years, Malaysia's energy demand is expected to rise significantly, from 96.3 terawatt-hours to 206 terawatt-hours (TWh).”
In this collaborative arrangement, B&H’s founder and management team will join ATPC Green Energy as executive officers, leading the energy-saving solutions portfolio. They will also become shareholders in ATPC Green Energy, gaining an equity stake of 30%. This partnership allows ATPC Green Energy to leverage B&H's expertise, customer base, and leadership, while aligning the interests of B&H’s founders through shareholding, supporting the long-term growth of the energy-saving solutions business.
Prof Dato' Sri Dr How Kok Choong, the Founder and Global Group CEO of ATPC, explains, “We aim to address this urgent energy demand by providing innovative energy-saving solutions across major sectors, leveraging the extensive expertise of B&H leadership team. By combining our resources and expertise, ATPC Green Energy is well-positioned to drive energy efficiency initiatives across multiple sectors.”
“ATPC Green Energy is looking to provide innovative energy-saving solutions to various sectors, including hospitality, insurance, government, semiconductor, retail, and manufacturing, and we are pleased to have the strong support of B&H as we strive to achieve our mutual goals. Collaboratively, we are in the midst of pitching for a USD 2.0 million project, and we are optimistic about our prospect.” How added.
ATPC’s commitment to the UN Sustainable Development Goals drives the company to build a comprehensive renewable energy ecosystem in ASEAN. This includes energy-saving solutions, solar projects, and other renewable technologies. The Company hopes to develop a diverse portfolio, expand its energy-saving offerings, foster partnerships, and achieve a significant market share in the region.
