Sedania secures six-year contract from Pos Malaysia to deploy GreenTech solutions

Sedania secures six-year contract from Pos Malaysia to deploy GreenTech solutions
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KUALA LUMPUR (Sept 6): ACE Market-listed Sedania Innovator Bhd has announced that through its subsidiary Sedania Technologies Sdn Bhd, it has signed a contract with Pos Malaysia Bhd to provide GreenTech solutions to help Pos Malaysia reduce energy consumption on a shared saving concept.

In astatement, Sedania said the first deployment will include energy efficiency and renewable energy solutions at eight selected Pos Malaysia’ sites in the Klang Valley, which is scheduled to start this year and be completed within three months.

When contacted, a company spokesperson said that as this is an energy performance contract, the contract value is based on the company’s achieved energy saving performance after installing its GreenTech solutions. 

Through its energy performance contract framework, Sedania said this allows organisations to pursue their environmental, social and governance (ESG) objectives and significantly reduce their energy consumption on a zero-capital expenditure (capex) basis.

Sedania chief executive officer (CEO) Daniel Ruppert said that the latest venture marks an important milestone for Sedania as it expands its GreenTech solutions into the logistics and supply chain industry, an industry with thousands of decentralised processing centres and branches all over Malaysia.

“We are looking forward to helping Pos Malaysia reduce its operating cost and achieve its energy sustainability goals.

"As our model is non-disruptive to operations or finance, we encourage other organisations to replicate similar initiatives and execute their green agenda today rather than tomorrow," he added.

Following Sedania’s footprint in the banking and telecommunications verticals, the six-year contract represents the company’s entry into the supply chain sector which has seen a substantial growth in the last 18 months due to growth in online shopping.

Sedania said that based on published reports, Pos Malaysia through its Pos Laju SendParcel shipped more than 6.7 million parcels in total and generated RM45.5 million in revenue in 2020.

Sedania said its GreenTech business had served top players in their respective industries, from telecommunications companies (telcos) to financial institutions, with a total energy reduction to date of over 65 gigawatt-hours (GWh) in over 350 buildings, which is equivalent to 45,000 tons of carbon dioxide.

Sedania's share price had fallen 1.5 sen or 2.11% to 69.5 sen at 10.15am today, translating into a market value of RM241 million. 

Shares in Pos Malaysia, meanwhile, were one sen or 1.28% higher at 79 sen, giving it a market capitalisation of RM618 million.

Surin Murugiah