Nasdaq-listed AGAPE ATP Corporation (ATPC) has announced plans to fund the construction of 50 electric vehicle (EV) charging stations in Pahang, Kuala Lumpur  to provide sustainable energy solutions on a global scale 

The company recently formalised this commitment by signing a Memorandum of Agreement (MoA) with Volt Industries Sdn. Bhd. (Volt Industries), a Pahang-based developer of EV charging stations, in which ATPC intends to acquire a 51 per cent  stake.

The MoA, attended by ATPC’s founder and CEO, Dato’  How Kok Choong, and Volt Industries’ CEO, Datuk Tan Say Jim, marks a pivotal step for ATPC following its recent Nasdaq listing. Dato’  How Kok Choong emphasised the significance of this move, stating that it signifies ATPC’s expansion into the sustainable energy space, aligning with their ambitions on both local and global fronts. The partnership aims to contribute to Malaysia’s green transformation by not just building charging stations but powering the nation’s sustainable future.

Underlining the strategic venture, Dato’ How Kok Choong explained that ATPC’s acquisition of a 51 per cent share in Volt Industries is a key element of their plan to lead Malaysia’s EV transformation. Importantly, he clarified that the project would be privately funded, without relying on government subsidies.

The MoA outlines the roles and responsibilities, with ATPC focusing on securing primary funding and exploring additional capital sources, while Volt Industries takes charge of the project’s groundwork, including permits, licenses, and compliance with local regulations. Datuk Tan Say Jim expressed enthusiasm about the collaboration, emphasising Volt Industries’ technical expertise throughout the value chain, from design to operations.

On the same day, ATPC inked another MoA, this time with Oriental Industries Enterprise Sdn. Bhd. (OIE), a company specialising in cutting-edge EV battery development. The agreement outlines the formation of a Special Purpose Vehicle Company (SPV) aimed at advancing renewable energy development in Malaysia. In this venture, both ATPC and OIE will hold equal 50 per cent shares in the SPV, further solidifying ATPC’s commitment to fostering sustainable energy solutions in the region.