PORT DICKSON: CENVIRO Sdn Bhd, a wholly-owned subsidiary of Khazanah Nasional Bhd, is ready to list on Bursa Malaysia as early as next year.
Its managing director Khalid Bahsoon said the integrated waste management firm would be ready for an initial public offering (IPO) and was now in the midst of firming up its numbers.
“We will be IPO-ready by next year, but the decision to list will depend on the prevailing economic conditions,” he told NST Business in an exclusive interview recently.
He, however, declined to reveal the amount of proceeds expected from the IPO.
Khalid said some of the proceeds would be used to build a 19.8ha ecopark, located some 9km from Pengerang, Johor, to treat petrochemical waste.
“The ecopark would cost RM500 million over the next 10 years, which is to finance the technology and development cost. Of that RM500 million, a RM150 million incinerator will be built as well.
“In the future, we also plan to build other satellite facilities within Malaysia,” he added.
In February, Cenviro (Johor) Sdn Bhd signed a 10-year contract with Petroliam Nasional Bhd for the treatment of waste from the latter’s Refinery and Petrochemical Integrated Development in Pengerang, Johor.
Cenviro, which stands for “Clean Environment”, is the flagship of Khazanah’s investment in sustainable development.
It has more than 2,000 clients (waste generators) nationwide and is a leader in waste management, from treatment to recycling, recovery and final disposal.
As the leader in green revolution, the company, through subsidiary Kualiti Alam Sdn Bhd, has owned and operated Malaysia’s first integrated waste management centre in Negri Sembilan since 1998.
The waste management centre holds the licence to handle 76 categories of 77 scheduled wastes listed under the Environment Quality (Scheduled Wastes) Regulation 2005 for collection, treatment, recycling, recovery and final disposal.
Cenviro has continued to provide innovative and sustainable waste management and renewable energy solutions for the sustainability of the environment.
It also launched its Environmental Preservation and Innovation Centre (EPIC) in July.
EPIC, which is part of a training centre and ecopark development on a 40.5ha site in Seremban, aims to provide innovative and reliable solutions for the complete spectrum of waste management services.
The training centre and ecopark project, which will take up to five years to complete, will focus on recycling and recovery activities to reduce dependence on landfills.
Cenviro also owns Malaysia’s first scheduled waste-to-energy plant and a secured vertical landfill that incorporates an innovative methodology to create more air space in existing landfills.
It is also behind a recycling programme that rewards cash, the first of its kind in the country.