KUALA LUMPUR: Mah Sing Plastics Industries Sdn Bhd (MSPI) has awarded a RM12 million solar photovoltaic (PV) installation project to clean energy provider Plus Solar Systems Sdn Bhd (Plus Solar) to outfit MSPI’s smart factory in Klang, Selangor.
Executive director Lee Foo Keong said the first phase of PV installations was completed in 2020 and has gained savings of seven per cent per annum in electricity bills while the second phase of PV installations will commence early 2021.
"The Green Investment Tax Allowance (GITA) allows us to claim 100 per cent of this investment upon filing our tax submissions.
"This effectively works out to be a 24 per cent savings based on the given corporate tax rate. With GITA, the Net Energy Metering scheme and the monthly savings on electricity bills, we anticipate that this PV installation will pay for itself in four years,” he said in a statement today.
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