Boustead, Next Gen enter new phase in CAO venture

BOUSTEAD Holdings Bhd has entered into the next phase of its crude algae oil (CAO) venture with Next Generation Oil Sdn Bhd (Next Gen) with the signing of an agreement yesterday to subscribe to shares representing 10% equity interest in NextGen Group. In a statement yesterday, Boustead said the subscription agreement inked signifies the next phase of the group’s ongoing partnership with NextGen Group and its commitment to produce renewable energy for a greener future, while creating new employment opportunities and an ecosystem spinoff that will help to boost the national economy. — Bernama

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