KUALA LUMPUR (April 23): Cypark Resources Bhd has inked an agreement with the Melaka State government to participate in a Waste-To-Energy (WTE) public-private partnership at Sungai Udang, Melaka.

In a bourse filing, the group announced that it had entered into a cooperation agreement with PKNM Energy Sdn Bhd (PKNME), which is a wholly-owned subsidiary of Perbadanan Kemajuan Negeri Melaka, to participate in the WTE project.

“The agreements allow Cypark and PKNME to jointly collaborate to explore, develop and resolve the State’s waste management issues using time tested and environmentally friendly technologies which includes the development of WTE projects in the State of Melaka.

Through this collaboration, Cypark is confident that the joint venture will move Cypark one step closer toward realizing its goal to develop more WTE project after developing Malaysia's first WTE project at Ladang Tanah Merah, Negeri Sembilan,” it said.

Shares in Cypark closed 1.56% or two sen higher today at RM1.30, valuing it at RM638.12 million. Trading volume was 672,400 shares.