KUALA LUMPUR - Naza Corporation Holdings Sdn Bhd (Naza Group) has completed the acquisition of a 100 per cent stake in Berjaya Enviro Holdings Sdn Bhd (BEnviro), a prominent player in the waste management industry, for RM700 million.
In a statement, Naza Group said the acquisition presented a unique opportunity for it to venture into 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.
Group executive chairman of Naza Group SM Nasarudin SM Nasimuddin said the group has been exploring new sectors that align with its vision of sustainable development, resource efficiency, and upholding the highest standards of environmental stewardship.
"Waste management, a crucial aspect of green economy, which is expected to see a sizeable growth, perfectly aligns with our vision.
"Waste management businesses have predictable, steady income streams and the industry is non-cyclical in nature, both of which are key considerations for this acquisition,” he said.
Under its new waste management business, Naza will continue to operate the 266.24-hectare integrated waste management eco park - the Bukit Tagar Enviro Park, which is one of the top sanitary landfills and integrated waste management eco parks in the country. - BERNAMA