Amnesty International says Anwar administration failed to keep his promise of reforms; global report shows Malaysia lacking in seven areasChemicals manufacturer Ancom Nylex Bhd has announced its bid to acquire homegrown environmental solutions company Green Lagoon Technology Sdn Bhd for RM120 million.
Formed in 2010, GLT specialises in the design, construction, operation and management of biogas plants, effectively transforming waste into valuable resources.Following the announcement, AmInvestment Bank said it is maintaining its “buy” call on Ancom Nylex with a higher fair value of RM1.28 per unit share, up from RM1.26 per unit previously.
In its report, the bank said the move can lead to Ancom advancing its ESG roadmap by almost completely de-carbonising within a year of the acquisition, owning a profit-generating associate is better than an operation currently just barely breaking even, and capitalising on the synergies between GLT and Ancom, which has a large network of oil palm planters.
By integrating GLT’s expertise, Ancom aims to actively manage the impacts of climate change, reduce its carbon footprint, and explore alternative energy sources. GLT’s specialisation in biogas plant design and management aligns with Ancom’s commitment to emissions management and sustainability.