AMBANK ISLAMIC GRANTS RM180 MLN FINANCING TO NEXTGREEN FOR TECHNOLOGY PARK EXPANSION

KUALA LUMPUR, March 21 (Bernama) -- AmBank Islamic Bhd has granted up to RM180 million in financing facilities to Nextgreen Global Bhd’s subsidiary, Ultimate Ivory Sdn Bhd, to fund land reclamation, infrastructure development and utilities for Nextgreen’s Green Technology Park (GTP) in Pahang.

In a joint statement, AmBank Islamic and Nextgreen said the GTP, located in Kampung Paloh Hinai, Lepar, spans 165.92 hectares and it aims to become a globally recognised industrial park that leverages patented breakthrough technologies.

“Nextgreen’s GTP adopts a Bio-Integrated Zero Waste approach, which converts by-products from production processes into green products and renewable energy,” the parties said.

The technology repurposes oil palm biomass, particularly empty fruit bunches (EFB), as the primary feedstock for green paper pulp production, which helps reduce industry waste and environmental impact.

Nextgreen’s GTP will integrate pulp and paper manufacturing, animal feed production, organic fertilisers, renewable energy generation, and research and development activities.

“Its unique pulp mill technology is expected to save approximately 255 million trees annually, while also reducing carbon emissions, energy use, and water consumption. The initiative will also help Malaysia reduce its reliance on imported paper and paperboard,” the statement said.

AmBank Group managing director of business banking Christopher Yap said the bank believes that GTP will attract investments in renewable energy, circular economy practices, and low-carbon manufacturing as Malaysia’s green technology parks continue to drive sustainable economic growth.

Nextgreen Global managing director Datuk Lim Thiam Huat said the funding would strengthen the company’s commitment to sustainable industrial development.

“With AmBank Group’s unwavering support, we are confident that our expansion will not only advance our sustainability goals but also propel Malaysia towards a greener, more resilient future,” he said.

-- BERNAMA