PETALING JAYA: Nextgreen Global Bhd
’s (NGGB) wholly-owned unit Nextgreen Biomass Sdn Bhd will use a special-purpose vehicle (SPV) called GTC Biomass Bhd for the construction, development and commissioning of 20 oil palm waste collection and processing centres throughout Malaysia.
NGGB, in a filing with Bursa Malaysia yesterday, said it will undertake the proposed centres in a joint venture (JV) with Greentech Malaysia Alliances Sdn Bhd (GTMASB), Koperasi Sahabat Amanah Ikhtiar Malaysia Bhd and Koperasi Perkhidmatan Setia Bhd.
The shareholding of the SPV will consist as follows: Nextgreen Biomass Sdn Bhd (65%), GTMASB (10%), Koperasi Sahabat (18%) and Koperasi Perkhidmatan Setia Bhd (7%), NGGB’s filing said after the JV agreement had been signed.
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