PETALING JAYA: AmBank Group through AmBank Islamic Bhd has granted up to RM180 million of financing facilities to Ultimate Ivory Sdn Bhd, a wholly owned subsidiary of Nextgreen Global Bhd, to finance the land reclamation, infrastructure development, facilities and utilities works for Nextgreen’s Green Technology Park (GTP) which spans over 410 acres of land in Kampung Paloh Hinai, Lepar, Pahang.
Known as one of the nation’s pioneering leaders in the green technology industry, Nextgreen intends to transform its GTP into a globally recognised industrial park with patented breakthrough tech-nologies in which they adopt a Bio-Integrated Zero Waste efficiency that fully converts the by-products from every production process into green products and renewable energy.
This technology also repurposes a substantial stockpile of oil palm biomass, mainly EFB (Empty Fruit Bunch) from being disposed of as waste to becoming a primary feedstock for GTP’s “green” paper pulp production.
Nextgreen’s patented technology reduces the palm oil industry waste problems while minimising negative impact on the environment. It is a hybrid process that preserves the condition of EFB fibres for pulp and paper production, which was com-mercialised in 2022 and received certification from Sirim Eco Labelling and MyHijau in 2023.
The core technologies of GTP include the processing, manufac-turing and generation of pulp and paper products, animal feed, organic fertilisers, renewable energy, and R&D activities. This will contribute towards mitigating climate change by reducing the dependence on trees as a resource, saving approximately 255 million trees annually through its unique pulp mill technologies, in addition to reducing carbon, energy and water footprint. GTP will also reduce the country’s reliance on imports of paper and paperboard, thus providing Malaysia with security towards paper supply source control. This business model, vision and objectives are clearly in tangent with AmBank Group’s sustainability framework and ESG aspirations.
AmBank Group business banking managing director, Christopher Yap said: “We are proud to support Nextgreen Global Berhad as they embark on this milestone, cementing their position as one of the nation’s pioneering leaders in the sustainable industrial development.
“As Malaysia’s green technology parks continue to emerge as a key driver of sustainable economic growth, we believe that the GTP will contribute towards attracting investments in renewable energy, circular economy practices, and low-carbon manufacturing. On this note, we look forward to the commencement of an ESG-driven banking relationship with Next-green Group, and the continuous expansion of our collaboration in both local and global markets.”
Nextgreen Global managing director Datuk Lim Thiam Huat said they believe that the future of manufacturing lies in the circular economy, where agricultural waste is transformed into valuable resources to minimise environ-mental impact and foster inno-vation in green manufacturing.
With AmBank Group’s un-wavering partnership, he added, they are confident that their expansion will not only advance their sustainability goals but also propel the nation towards a greener and more resilient future.
Nextgreen Global is a Malaysian-based investment holding company founded in 1982 strategically posi-tioned as a leading organisation in the Green Economy, with Ultimate Ivory specialising in developing the flagship Green Technology Park.
Circularity at Nextgreen is through creating and delivering innovative products and processes designed to minimise waste and improve resource efficiency as part of a truly circular economy, sup-ported by responsible and sus-tainable business practices and strong collaboration with partners – local and abroad – across the value chain.
AmBank senior vice-president Foo Wen Pok and Nextgreen Global executive director Megan Lim signing the documents while (from left) AmBank commercial banking 2 head Patrick Chin; Yap; AmBank Islamic CEO Eqhwan Mokhzanee and Lim look on.
Sumber: The Sun