KUALA LUMPUR: Meta Vivid Group Bhd (Meta Vivid) goals to deepen its market penetration in Australia within the subsequent few years by leveraging the nation’s strong development within the mining sector, notably copper.
Government director of company and strategic planning Derek Phang Kiew Lim mentioned Australian copper mine manufacturing is projected to develop by 6.2% yearly over the outlook interval, reaching 1.160 million tonnes by 2028-29.
He mentioned the projected development presents important alternatives for the corporate’s leasing and financing companies to supply important equipment and tools to assist the mining operations.
“Our technique consists of increasing our portfolio of leased property to incorporate a wider vary of equipment, tractors, lorries, and different tools, guaranteeing that we cater to numerous business wants.
“We’re additionally enhancing our leasing phrases and situations to be extra versatile and enticing to potential lessees, thereby growing our buyer base and rental earnings,“ Phang advised SunBiz.
Meta Vivid through wholly owned Australian subsidiary Meta Vivid Australia Pty Ltd, secured a brand new tools leasing contract from Australian copper mining firm Mt Cuthbert Sources Pty Ltd (MCR) in April.
The corporate, in a submitting with Bursa Malaysia, mentioned Meta Vivid Australia will present dry rent tools rental companies to MCR, supporting its copper mining operations in Australia with important equipment and tools valued as much as RM24.82 million.
The submitting mentioned this contract is predicted to generate substantial month-to-month recurring rental earnings, estimated at A$222,950 (about RM699,260) month-to-month, enhancing Meta Vivid’s recurring income streams and reinforcing its presence within the Australian market.
In the identical month, Meta Vivid’s wholly owned subsidiary, Meta Vivid Sdn Bhd, secured RM28 million in financing amenities from AmBank (M) Bhd.
The funding expands its enterprise operations and solidifies Meta Vivid’s functionality to safe important banking assist inside two years. The funds can be channelled to buying high-value tools for Meta Vivid Australia, a transfer set to solidify Meta Vivid’s presence within the worldwide market and guarantee a gradual stream of recurring earnings.
As for its leasing and financing companies on the home entrance, Phang mentioned Meta Vivid affords tailor-made financing options in Malaysia, together with short- to medium-term enterprise and private loans with aggressive rates of interest, aiming to draw new debtors.
“Our financing division, licensed by the Housing and Native Authorities Ministry beneath the Moneylender Act 1951, is designed to ship quick and efficient monetary options, supporting enterprise development and monetary flexibility for our purchasers,“ he mentioned.
When requested about Meta Vivid’s plans or tasks within the pipeline to keep up its development trajectory, Phang mentioned the important thing focus is on focusing on high-demand sectors reminiscent of development, agriculture, and logistics in Malaysia and Australia.
“By diversifying the varieties of tools and equipment we lease, together with tractors, lorries, and specialised development tools, we purpose to draw a broader consumer base and safe long-term contracts that present steady income streams.
“Our give attention to sustaining a median efficient rate of interest of 18% ensures enticing returns whereas supporting the monetary wants of our purchasers.
“We’re additionally exploring digital financing options to streamline our mortgage utility processes, making it simpler and sooner for purchasers to entry funds. This digital transformation will improve buyer expertise and operational effectivity, additional driving development on this phase,” Phang mentioned.
He added that Meta Vivid is diversifying its income streams throughout totally different enterprise segments and this strategy reduces dependency on any single market and mitigates dangers related to financial fluctuations.
Phang additionally mentioned the group continues to capitalise on development alternatives and maintains monetary stability by increasing its presence within the energy-related, tools leasing, and constructing supplies sectors.
“Within the tools leasing enterprise, Meta Vivid has established sturdy relationships with key purchasers in Malaysia and Australia, notably within the mining sector. These partnerships allow Meta Vivid to safe long-term contracts, guaranteeing a gradual income stream. The corporate can also be exploring new alliances with business leaders to increase its market attain and improve its service choices,” Phang mentioned.