Nextgreen completes land disposals tied to JV proposals

 

PETALING JAYA (June 23): Nextgreen Global Bhd (NGGB) has completed the land disposals linked to its earlier-announced joint venture (JV) proposals, following full settlement of the remaining sale consideration.

The company said in a Bursa filing yesterday that the proposed land disposals were completed last Friday (June 19) after Neuwhite Sdn Bhd paid the balance 90% of the disposal considerations to Ultimate Ivory Sdn Bhd in accordance with the terms of the conditional sale and purchase agreements (SPA).

As background, NGGB had said in a May 20 filing that the conditions precedent under the conditional SPA had been fulfilled on May 19, rendering the agreements unconditional. At the time, the company noted that the land disposals would be deemed completed upon full payment of the remaining 90% disposal consideration by Neuwhite to Ultimate Ivory.

The land disposals form part of NGGB’s broader proposals involving a proposed JV and proposed land disposals, which were first announced in December 2025, and subsequently detailed in its circular to shareholders dated February 26.

NGGB said the latest filing marks the completion of the land disposals component of the proposals.

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