KUALA LUMPUR: Naza Corporation Holdings Bhd has completed the acquisition of waste management company Berjaya Enviro Holdings Sdn Bhd, as part of Naza's expansion into the green economy.
In a statement released today, Naza said the acquisition will let it seize opportunities for growth in the municipal solid waste, scheduled waste, and waste to energy sectors.
Naza's acquisition involved taking over seven entities previously under BEnviro, 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 said the acquisition demonstrates Naza's commitment to expanding its business scope strategically by entering the field of comprehensive waste management solutions and promoting environmental sustainability.
"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.
Nasarudin said that Naza has been looking into new sectors that match its vision of sustainable development, efficient resource utilisation, and maintaining top-notch environmental stewardship standards and waste management, an integral component of the green economy poised for significant growth, aligns perfectly with the company's 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.
Naza will maintain operations at the 659-acre Bukit Tagar Enviro Park (BTEP), an integrated waste management eco park.
This includes activities such as converting landfill gas into energy and increasing capacity in the scheduled waste management sector.
It said the primary focus in the business segment are municipal solid waste, scheduled waste, and waste to energy, with a strong emphasis on environmental responsibility and sustainable practices for the long term.