Annica Holdings to buy a 25.79% stake in Green Pluslink Sdn Bhd

Date: 2018-03-26   Author: Saipriya Iyer  Category: #market

Annica Holdings to buy a 25.79% stake in Green Pluslink Sdn Bhd

Annica Holdings Limited, an investment holding firm based in Singapore, has announced that it will purchase nearly 25.79 % shares of Green Pluslink Limited (GPL). Incidentally, this company has recently acquired a waste tire pyrolysis unit in Tanjong Malik in Malaysia from Horizon Greentech Resources. As per sources, Annica will pay nearly S$4.2 million for GPL stocks under the definitive purchase deal.

For the uninitiated, alongside this current purchase announcement, the investment holding company has further declared the culmination of the agreement where it planned to acquire 49% of ownership in Horizon Greentech Resources. This agreement had been decided as early as 2016 when Annica had declared that it will enter a new tyre recycling business through the purchase of Horizon Greentech. In fact, back then, the company had even stated that it plans to acquire some of the regulatory licenses in the context of buying out Horizon Greentech. If sources are to be believed, this deal closure date had been extended to March 2018 from the previous December 2017, which the firm has now officially planned to terminate.

Some of the key officials of Annica Holdings have reported that the GPL acquisition aligns with the business strategy of the firm to expand its new business line through inclusion of recycling, sustainable, and green technologies. The company sources have further proclaimed that the three waste tyre pyrolysis manufacturing units will be shifted to a new location for achieving more production through operational efficiency.

Analysts claim that Annica current growth strategy is aimed at investing in the renewable energy sector to promote a green environment as a part of its corporate social responsibility. They have further projected that the rising trend for green energy supported by strict emission norms may have encouraged the firm to acquire a large stake in GPL.



About Author


Saipriya Iyer linkdin-boxtwitter

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

Post Recommendents

Hemoglobin Testing Devices Market by Growth Factors Analysis and Opportunities Analysis to 2025

Author: Rahul Varpe

A highly analytical qualitative as well as quantitative evaluation of the Hemoglobin Testing Devices Market has been covered in this report. The study evaluates the myriad aspects of this industry by taking into consideration its historical and fo...


Rat Model Market to 2028 - Development Status and Application Analysis

Author: Rahul Varpe

An extremely definite evaluation of the Rat Model Market in terms of qualitative as well as quantitative analysis has been covered in this report. The myriad aspects of this industry, having considered its historical and forecast data have been en...


Electrosurgical Generators Market - Regional Outlook and Competitive Strategies to 2025

Author: Rahul Varpe

The report overall depicts the potential opportunities for the Electrosurgical Generators Market till the year 2025 based on SWOT analysis, growth strategies by the major vendors prevalent in the current scenario, surveys highlighting the current ...