KUALA LUMPUR: Naza Corp Holdings Sdn Bhd (Naza Group) has completed the acquisition of a 100% stake in Berjaya Enviro Holdings Sdn Bhd (BEnviro) for RM700mil.
In a statement, Naza Group said the acquisition presented a unique opportunity for the group to venture into the green economy, capitalising on growth opportunities in municipal solid waste (MSW), scheduled waste (SW) and waste to energy (WTE) sectors.
The acquisition also involved Naza taking over seven entities under BEnviro, namely, BPJ-Berjaya Sdn Bhd, Berjaya Eco Services Sdn Bhd, Save the Sea Sdn Bhd, Berjaya Enviro Parks Sdn Bhd, Amita Berjaya Sdn Bhd, J&T Berjaya Alam Murni Sdn Bhd and Berjaya Energies Sdn Bhd.
“Through this acquisition, Naza will be able to offer comprehensive solutions to meet Malaysia's waste management needs, leveraging on the extensive operational infrastructure, technological advancements, and talented workforce of BEnviro and its 7 subsidiaries,” Naza group executive chairman SM Nasarudin SM Nasimuddin said.
“We recognise waste management as a cornerstone of the green economy, providing stable income streams unaffected by economic cycles. This acquisition reinforces Naza’s dedication towards strategic growth of its business reach – venturing into the provision of comprehensive waste management solutions and promoting environmental sustainability,” he added.
Under its new waste management business, Naza will continue to operate the 659-acre integrated waste management eco park – the Bukit Tagar Enviro Park (BTEP). The business also includes landfill gas-to-energy operations, expanding capacity in the scheduled waste management sector.
