PETALING JAYA: Nextgreen Global Bhd
(NGGB) accepted a RM50mil working capital financing facility from Bank Kerjasama Rakyat Malaysia Bhd.
In a filing with Bursa Malaysia, NGGB noted the money will be utilised to support its general working capital requirements, including operational funding, procurement activities and business expansion across its integrated green technology ecosystem.
The facility, structured under the Shariah principle of Tawarruq, has a revolving tenure of up to five years.
NGGB's managing director Datuk Lim Thiam Huat said the facility will enhance NGGB's ability to support ongoing operations, optimise working capital management, and execute its strategic plans within the Green Technology Park.
He further added, “This partnership also aligned with NGGB’s broader vision of developing an integrated green technology platform, including pulp and paper, fertiliser, and downstream biomass-based products".
