Shareholders Agreement Between Nextgreen Biomass with GTMA, KOOP SAHABAT, and KOSETIA

Nextgreen’s Board of Directors is pleased to announce that Nextgreen Biomass Sdn Bhd, a wholly-owned subsidiary of the company, has entered into a Shareholders’ Agreement with Greentech Malaysia Alliances Sdn Bhd (GTMA), Koperasi Sahabat Amanah Ikhtiar Malaysia (KOOP SAHABAT) Berhad, and Koperasi Perkhidmatan Setia Berhad (KOSETIA). The purpose of this agreement is to establish a joint venture in a special purpose vehicle (SPV) company called GTC Biomass Berhad. The joint venture aims to construct, develop, and commission 20 Oil Palm Waste Collection and Processing Centres throughout Malaysia.

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