News

Investors urged to consider supporting the biogas industry

Mohd Khairul Fidzal Abdul Razak (File photo)

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, Nov 5 -- Malaysian Bioeconomy Development Corporation Sdn Bhd (Bioeconomy Corp) is calling on all private and institutional investors, including angels and venture capitalists, to consider investing in the biotechnology sector, in particular the biogas industry, as it moves towards achieving sustainable development goals while contributing to the circular economy.

Chief operating officer Mohd Khairul Fidzal Abdul Razak said although the industry was still considered to be in its infancy, it had a great potential to be successful and provide positive returns on investment.

Citing the success story of Green Lagoon Technology Sdn Bhd (GLT), a biogas technology provider, he said funding raised through CrowdPlus.Asia, an equity crowdfunding (ECF) platform, in 2016 had managed to make GLT the first bio-based equity crowdfunded company in Malaysia.

Formed in 2010, GLT is a one-stop solutions provider for biogas harvesting, storage, treatment, utilisation and carbon reduction monitoring for palm oil mills in Malaysia and Indonesia. It successfully saw the exit of a group of investors three years after the ECF launch.

“We are grateful that our facilitation between GLT and CrowdPlus.Asia has reaped rewards for GLT. Investors have received profits from their investments as well as annual six per cent dividend payouts from 2017-2019.

“Some of the investors have converted into permanent shareholders of GLT while some were bought out by GLT between September 2018 and October 2019, reflecting that they have confidence in the company’s growth potential, strength and sustainability,” he told Bernama here today.

Khairul Fidzal said moving forward, it would continue to work with both parties to engage in continuous education programmes to increase awareness on ECF and help biogas companies to secure more funding options.

“We have also identified 16 biogas / renewable energy companies in our pipeline that have the potential to benefit from ECF,” he said.

However, he declined to elaborate on the companies.

Bioeconomy Corp, owned by Minister of Finance Incorporated and the Federal Lands Commissioner, has been under the purview of the Agriculture and Agro-based Industry Ministry since November 2018.

Meanwhile, GLT director Raymond Cheah Wai Chun said while biogas projects in the country were proving to be lucrative, financing remained a major challenge.

“We need cheaper sources of funds to make the projects viable. The industry not only helps to reduce greenhouse gas emissions for the palm oil industry, but also creates many rural technical job opportunities,” he said.

-- BERNAMA

 

 

 


 





    Other News

Bank Pembangunan Malaysia will support its customers to weather the COVID-19 storm

KUALA LUMPUR, March 28 -- Bank Pembangunan Malaysia Bhd (BPMB) will provide all relevant support to its customers facing difficulties including granting a moratorium on repayments/payments of loans/financings for a period of six months.


TNB pledges RM150 mln to support tiered electricity rebate

KUALA LUMPUR, March 27 – Tenaga Nasional Berhad (TNB) has pledged RM150 million to support the government’s announcement of a tiered electricity rebate to assist affected Malaysians following the extension of the Movement Control Order (MCO) period until April 14.


Minister expresses confidence in TNB’s preparedness during MCO

KUALA LUMPUR, March 26 -- Energy and Natural Resources Minister Datuk Dr Shamsul Anuar Nasarah has expressed confidence on the preparedness of Tenaga Nasional Bhd (TNB) in revving up its capacity to meet electricity supply demand in the Peninsula during the Movement Control Order (MCO).


    Main Sponsor


    Quotes



© 2020 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution

Contact us :
General [ +603-2693 9933, helpdesk@bernama.com ]
Product/Service Enquiries [ +603-2050 4466, portal@bernama.com ]