Khazanah partners SK ecoplant to accelerate Cenviro growth

KUALA LUMPUR: Khazanah Nasional Bhd has entered into a strategic partnership with South Korea’s SK ecoplant Co Ltd, which will see the latter take up a 30 per cent stake in Khazanahowned Cenviro Sdn Bhd to spur its growth into a regional waste management powerhouse.

The sovereign wealth fund said following a multilateral bidding process, SK ecoplant was selected as the optimal minority shareholding partner to support Cenviro in its next level of strategic growth.

Managing director Datuk Amirul Feisal Wan Zahir said for more than 30 years, Cenviro had been the leader in Malaysia’s integrated waste management sector.

“The growth plan for Cenviro echoes Khazanah’s mandate to develop globally competitive companies that are anchored on sustainability.”

Khazanah said the strategic partnership was in line with its long-term strategy under the ambit of “Advancing Malaysia”, which was announced at the Khazanah annual review in March.

Among others, it will undertake key initiatives to deliver impactful outcomes for the nation, including representing Malaysia at the global stage to facilitate flows of knowledge, networks, and investment opportunities.

Cenviro is a leading circular waste management solutions provider in Malaysia, operating mainly in treatment and disposal, recycling and recovery of scheduled waste.

Khazanah said the partnership would combine SK ecoplant’s operational and technological capabilities with Cenviro’s robust local footprint.

“Both Khazanah and SK ecoplant believe this will reinforce Cenviro’s position as a leading scheduled waste management platform, facilitating its growth and creating value for all stakeholders,” it said.

The growth plan for Cenviro echoes Khazanah’s mandate to develop globally competitive companies that are anchored on sustainability. DATUK AMIRUL FEISAL WAN ZAHIR Khazanah Nasional Bhd managing director