The Board of Directors of Nextgreen wishes to announce that the Company had on 26 January 2022 entered into a Memorandum of Understanding (“MOU”) between the State Government of Kelantan through a joint venture with the Kelantan state-linked company or any parties determined by the State Government to develop Kelantan Sustainable Projects with an estimated RM2.23 billion valuation (referred to as “Project”), subject to technical assessment, finance and certificates by the One-Stop Investment Committee of Kelantan or any committee that agreed upon by the State Authority with the approval of the State Authority.

Nextgreen and State Government of Kelantan are each referred to as the “Party” and collectively referred to as the “Parties”.

Please refer to the attachment for details of the announcement. 

This announcement is dated 26 January 2022.