Naza Corp Holdings is set to acquire Berjaya Enviro Holdings, the waste management business of Berjaya Corp, for a cash amount of RM700 million. This strategic move marks Naza Corp’s entry into the waste management sector. As a result of the transaction, BCorp is expected to record a gain of RM490.74 million.
The acquisition underscores Naza Group’s commitment to expanding its business footprint and offering comprehensive waste management solutions while promoting environmental sustainability.
Naza Group’s executive chairman, SM Nasarudin, highlighted that the company has been exploring new sectors in line with its vision of sustainable development, resource efficiency, and environmental stewardship. Waste management, being a vital component of the Green Economy and projected to experience significant growth, perfectly aligns with their vision.
Following the completion of the deal, BGroup and BEnviro plan to establish a joint venture company, with majority ownership by BEnviro. This partnership aims to collaborate on various projects, including sanitary landfills, environmental and waste management initiatives in Malaysia and overseas.
The business acquisition also encompasses landfill gas-to-energy operations and an expansion of capacity in the scheduled waste management sector.