Main Market-listed EP Manufacturing Berhad is venturing into carbon credits. This is in strategic partnerships with ESG focused global funds, as it looks to fulfil its ESG vision. The Group, which has diversified into the electric vehicle (“EV”), has come together with its international partners, all of who are committed to reducing its carbon footprint.
Recently, EPMB inked an Investment Agreement with CIS Pride Fund SPC and China-based Sharkgulf Technologies Group Ltd, where the fund will be investing a minimum of USD50 million for the establishment of battery swapping infrastructure for the Bluesharkbranded two-wheeled EVs. To recap, EPMB has partnered with Sharkgulf to roll out Bluesharkbranded two-wheeled EVs in Malaysia and across Southeast Asia.
CIS Pride ESG Fund will invest in EPMB’s EV business for its related financial leasing, supply chain and manufacturing. The fund is led by Mr J. Ernst Lee, who is the representative director of the Auster Fund (with Assets under Management of USD1 billion) with the Rothschild family. Sitting on the Global Advisory Board of CIS Pride ESG Fund is Mr. Han Seung-Soo, former Prime Minister of South Korea and the 2001-2002 President of United Nations’ General Assembly.
Separately, on 16 September 2022, EPMB signed another Investment Agreement with Abu Dhabi-based Siraj Holding LLC and Sharkgulf, whereby Siraj will invest stagewise a minimum USD50 million in procuring Blueshark-branded two-wheelers from EPMB, and leasing them to Malaysians from the B40 category, offering them gig employment opportunities for additional income. This will be part of EPMB’s roll-out programme before end-2022. Siraj Holding LLC, an arm of the Al-Otaiba family, is a successful entity based in Abu Dhabi, United Arab Emirates. They are financiers, whose portfolio includes banking, asset management, insurance, oil and gas interest, hospitality, property development, property and infrastructure
investments, commodities trading, technology and others. Siraj holds a total asset base of approximately USD10 Billion.
On 15 September 2022, EPMB also has entered into a Memorandum of Understanding (“MoU”) with Dubai-based SJQ Investments LLC and Sharkgulf to jointly explore the expansion and development of two-wheeled EVs for the Middle East and African markets. SJQ, led by Sheikh Saqer J. Al-Qassimi, seeks to establish a Manufacturing, Sales and Distribution Centre with EPMB in Ras Al-Khaimah, United Arab Emirates
