NGGB

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MEMORANDUM OF UNDERSTANDING BETWEEN STATE GOVERNMENT OF KELANTAN

NEXTGREEN GLOBAL BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-27012022-00001
Subject MEMORANDUM OF UNDERSTANDING BETWEEN STATE GOVERNMENT OF KELANTAN
Description
NEXTGREEN GLOBAL BERHAD ("NEXTGREEN" OR "THE COMPANY")
MEMORANDUM OF UNDERSTANDING (MOU) BETWEEN STATE GOVERNMENT OF KELANTAN
Query Letter Contents

We refer to your Company’s announcement dated 26 January 2022, in respect of the aforesaid matter.


In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

 

1) Further clarification and details of “Kelantan Sustainable Projects” pertaining to the development on palm oil collection and processing center, forest plantation, pulp mill, animal feed mill and fertilizer plant.

2) Clarification on the funding for the Project and its source of funds.

3) Tentative timeframe to enter into the joint venture agreement to effect the commencement of the Project.
4) It is noted that the MOU is subject to technical assessment, finance and certificates by the One-Stop Investment Committee of Kelantan or any committee that agreed upon by the State Authority with the approval of the State Authority. To clarify on the “technical assessment, finance and certificates” to be obtained.
5) Elaboration on Nextgreen’s capability to fulfil its roles as stated in the salient terms of the MOU.

6) The detailed basis and justification to arrive on the estimated RM2.23 billion valuation for the Project.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,


Listing

Regulation

 

Cc : Market Surveillance Dept. , Securities Commission (via fax)

Unless otherwise stated, all abbreviations used herein shall have the same meaning as those mentioned in the announcement dated 26 January 2022 pertaining to the MOU between State Government of Kelantan.

 

The Board of Directors of Nextgreen Global Berhad (“NGGB” or “the Company”) wishes to inform that the Company had on 27 January 2022 received Bursa Malaysia Securities Berhad’s request for additional information in relation to the Company’s announcement made on 26 January 2022.

 

The details of the additional information are set out in the attachment herein.

 

This announcement is dated 28 January 2022.

 



Please refer attachment below.



Announcement Info

Company Name NEXTGREEN GLOBAL BERHAD
Stock Name NGGB
Date Announced 28 Jan 2022
Category General Announcement for PLC
Reference Number GA1-28012022-00052