AmBank Group through AmBank Islamic Berhad (AmBank Islamic) has granted up to RM180 million of financing facilities to Ultimate Ivory Sdn Bhd, a wholly owned subsidiary of Nextgreen Global Berhad (Nextgreen) to finance the land reclamation, infrastructure development, facilities and utilities works for Nextgreen’s Green Technology Park (GTP) which spans over 410 acres of land in Kampung Paloh Hinai, Lepar, Pahang.
Known as one of the nation’s pioneering leaders in the green technology industry, Nextgreen intends to transform its GTP into a globally recognised industrial park with patented breakthrough technologies in which they adopt a Bio-Integrated Zero Waste efficiency that fully converts the by-products from every production process into green products and renewable energy. This technology also repurposes a substantial stockpile of oil palm biomass, mainly EFB (Empty Fruit Bunch) from being disposed as waste to becoming a primary feedstock for GTP’s “green” paper pulp production.
Nextgreen’s patented technology reduces the palm oil industry waste problems while minimising negative impact on the environment. It is a hybrid process that preserves the condition of EFB fibres for pulp and paper production, which was commercialised in 2022 and received certification from SIRIM Eco Labelling and MyHijau in 2023. Nextgreen’s biofertilizer (NexCompostÒ and NexBooster™), was honoured with the ITEX 2024 Gold Medal for two groundbreaking inventions at the 35th International Invention, Innovation, Technology Competition & Exhibition (ITEX 2024).
The core technologies of GTP include the processing, manufacturing and generation of pulp and paper products, animal feed, organic fertilizers, renewable energy, and R&D activities. This will contribute towards mitigating climate change by reducing the dependence on trees as a resource, saving approximately 255 million trees annually through its unique pulp mill technologies, in addition to reducing carbon, energy and water footprint. GTP will also reduce the country’s reliance on imports of paper and paperboard, thus providing Malaysia with security towards paper supply source control. This business model, vision and objectives are clearly in tangent with AmBank Group’s sustainability framework and ESG aspirations.
Christopher Yap, Managing Director, Business Banking, AmBank Group said, “We are proud to support Nextgreen Global Berhad as they embark on this milestone, cementing their position as one of the nation’s pioneering leaders in the sustainable industrial development. As Malaysia’s green technology parks continue to emerge as a key driver of sustainable economic growth, we believe that the GTP will contribute towards attracting investments in renewable energy, circular economy practices, and low-carbon manufacturing. On this note, we look forward to the commencement of an ESG-driven banking relationship with Nextgreen Group, and the continuous expansion of our collaboration in both local and global markets.”
Dato’ Lim Thiam Huat, Managing Director of Nextgreen Global Berhad said, “We deeply appreciate AmBank Group’s support as we continue to expand our GTP and reinforce our commitment to sustainable industrial development. At Nextgreen, we believe that the future of manufacturing lies in the circular economy, where agricultural waste is transformed into valuable resources to minimise environmental impact and foster innovation in green manufacturing. With AmBank Group’s unwavering partnership, we are confident that our expansion will not only advance our sustainability goals but also propel the nation towards a greener and more resilient future.”
Nextgreen Global Berhad is a Malaysian-based investment holding company founded in 1982 strategically positioned as a leading organisation in the Green Economy, with Ultimate Ivory Sdn Bhd specialising in developing the flagship Green Technology Park (GTP). Circularity at Nextgreen is through creating and delivering innovative products and processes designed to minimise waste and improve resource efficiency as part of a truly circular economy, supported by responsible and sustainable business practices and strong collaboration with partners – local and abroad - across the value chain.
Nextgreen has garnered several accolades, including an award for achieving SDG Ambition Benchmark No. 6 for 100% sustainable material inputs—renewable, recyclable, or reusable—during the UNGCMYB Sustainability Performance Awards 2022. Additionally, it received the "Partnership for the Goals Recognition," which acknowledges organisations excelling in advancing sustainable development through impactful collaborations, at the UNGCMYB Forward Faster Sustainability Awards 2024.
