Nextgreen Global secures RM400m investment for GTP projects


The 20-year contract secured by its unit Metro Parking Management Philippines Inc would also include the construction of an additional 208-bays of steel deck parking structure in MBP - a bustling business hub in the affluent suburb near Alabang Town Centre, one of Metro Manila

KUALA LUMPUR: Nextgreen Global Bhd has secured an investment of RM400mil from Asia Capital Investment Fund for the funding of working capital and costs in its Green Technology Park (GTP) projects.

The investment comprises RM280mil in share capital injection in the SPVs managing the projects, which will be 100% owned by Nextgreen, and a RM120mil loan.

In July, Nextgreen had cancelled a memorandum of understanding with China Nuclear Industry Huaxing Construction Co Ltd for its partnership in developing Phase 2 and 3 of the GTP Pekan Project.

Nextgreen Gobal has entered Phase 2 of GTP Pekan development, which requires funding for the construction of two pulp and paper mills. 

According to a stock exchange filing, two other GTP projects in Johor and Sarawak are currently in the pipeline.

"GTP Johor Project and GTP Sarawak Project are currently in negotiation stage. More details would be announced by the Company in due course when the negotiation advances further which warrant announcement to be made by the Company," it said.

At 12.30pm, Nextgreen traded unchanged at 41.5 sen a share on volume of 801,800 units.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

ABM welcomes GX Bank, Boost Bank as new members
Khee San to raise up to RM96.1mil from rights issue
Ringgit ends firmer against greenback amid heightened uncertainty as US election looms
Elridge Energy inks 15-year biomass fuel contract with Japanese trading firm
Bintai Kinden unit bags RM61.22mil construction job in Melaka
MCE, Chuhang ink MoU to develop automated driving radar
Bursa Malaysia ends higher lifted by plantation, construction stocks
Revenue to dispose of Innov8tif stake for RM40mil
MN Holdings' new job wins bring orderbook to all-time high of RM625.8mil
Bina Puri unit secures RM113.29mil contract for Sarawak water supply project

Others Also Read