KUALA LUMPUR (Nov 20): Wasco Greenergy Bhd, en route to the Main Market, sees Indonesia as key to its expansion given rising demand for biomass energy in the world’s largest palm oil producing nation.

The company currently has over 60% market share in Indonesian non-utility turbines but its slice in the biomass boiler market remains below 5%, a gap that represents a key growth avenue, chief executive officer Lee Yee Chong said at the launch of Wasco Greenergy’s listing prospectus on Thursday.

Wasco Greenergy is also eyeing Indonesia's fast-growing sugar industry as another potential commercial market that it may expand to in the future, he said.

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MAYBANK