The Board of Directors of Nextgreen Global Berhad announced that the Company had on 17 January 2022 entered into a Memorandum of Understanding ("MOU") between Malaysian Green Technology and Climate Change Corporation (formerly known as Malaysia Green Technology and Climate Change Centre) ("MGTC"), Koperasi Sahabat Amanah Ikhtiar Malaysia Berhad ("KOOP SAHABAT") and Koperasi Perkhidmatan Setia Berhad ("KOSETIA") to establish a continuous and effective cooperation in the field of potential collaboration and/or cooperation for the purpose of building, developing and commissioning of twenty (20) Oil Palm Waste Collection and Processing Centers ("the Centers") throughout Malaysia (referred to as "Project"). Pursuant to the MOU, the Parties intend to cooperate in the following matters: Give full effort to implement the Project; Hold detailed discussions for effective planning and implementation; Exchange of information, publications and materials; Execute a definitive mutual agreement subject to a satisfactory outcome of the Project underlying the terms and conditions; and Any form of collaboration or other area of cooperation agreed with the Parties.