PETALING JAYA: Yuwang Plantation Sdn Bhd has emerged as a substantial shareholder of Nextgreen Global Bhd (NGGB) following the acquisition of 55 million shares, or a 5.4% stake in the company.
Established in 2002, Yuwang Plantation, a subsidiary of Yuwang Group, specialises in the cultivation of oil palm estates and the processing of fresh fruit bunches into crude palm oil and palm kernel.
It manages approximately 65,000 acres of oil palm estates, 20,000 acres of rubber estates and operates eight palm oil mills.
In a statement, NGGB managing director Datuk Lim Thiam Huat said: “We look forward to working closely with Yuwang Plantation to advance our initiatives in green technology and sustainable development.”