Nextgreen plans to sell pulp and paper to Marubeni


  • Business
  • Wednesday, 03 Apr 2019

According to the stock exchange filing, the project will be close to retail amenities such as Sunway Giza, Sunway Nexis and Ikea Damansara as well as education institutions including Sri KDU and SEGi University, and Thomson Hospital.

PETALING JAYA: Nextgreen Global Bhd has executed a letter of intent (LoI) to sell pulp and paper from its mill in Pahang to Japan-based Marubeni Corp.

In a filing with Bursa Malaysia yesterday, Nextgreen said a formal contract incorporating further details concerning the potential transaction and other terms would be prepared after further negotiations between Nextgreen and Marubeni.

“The LoI does not constitute a contract nor create any legal obligation, but is only to express the intention to enter into negotiations towards a formal contract, reflecting the understanding in the LoI,” it said in the statement.

The potential transaction will see Marubeni purchasing 5,000 tonnes of wood-free paper per year and 3,000 tonnes of bleached chemical pulp per year from September 2019 to August 2021.

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Nextgreen , Marubeni , pulp , paper , sell , MOU ,

   

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