NAZA Corporation Holdings Bhd has finalised the acquisition of waste management company Berjaya Enviro Holdings Sdn Bhd, marking a strategic move towards expanding its presence in the green economy sector.
The acquisition, announced in a statement today, positions Naza to capitalise on growth opportunities within the municipal solid waste, scheduled waste and waste-to-energy sectors.
The transaction involved the absorption of seven entities previously under Berjaya Enviro, including 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.
“The completion of the acquisition marked a significant milestone of Naza’s growth trajectory, and solidifies its position as a key player in Malaysia’s waste management sector,” it said.
Naza Group executive chairman SM Nasarudin SM Nasimuddin emphasised the strategic importance of this move, stating that it underscores Naza’s commitment to diversifying its business scope strategically.
“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 seven subsidiaries.
“We recognise waste management as a cornerstone of the green economy, providing stable income streams unaffected by economic cycles,” he said.
He also noted that waste management aligns seamlessly with Naza’s vision of sustainable development, efficient resource utilisation and top-notch environmental stewardship standards.
“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.”
Moreover, Naza intends to maintain operations at the 659-acre Bukit Tagar Enviro Park (BTEP), focusing on activities such as converting landfill gas into energy and enhancing capacity in the scheduled waste management sector.
With a primary focus on municipal solid waste, scheduled waste and waste-to-energy segments, Naza underscored its commitment to environmental responsibility and sustainable practices for long-term viability. – May 3, 2024
Main photo credit: The Edge
