CB Industrial Product secures palm oil mill-related contract

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KUALA LUMPUR (Sept 14): CB Industrial Product Holding Bhd, an engineering solutions provider, has secured a palm oil mill-related contract from Sime Darby Plantation Bhd.

The group said the RM8.8 million contract was awarded to its wholly-owned unit PalmitEco Engineering Sdn Bhd.

It entails replacing existing front-end vertical sterilizer with continuous sterilizer system at Sime Darby Plantation's palm oil mill in Layang Layang, Johor.

"The (contract) is expected to contribute positively to the earnings of CB Industrial Product for the financial years ending Dec 31, 2017 (FY2017) and FY2018," CB Industrial Product said in a filing with Bursa Malaysia.

The group is controlled by its managing director Datuk Lim Chai Beng, with a total stake of 32.76%, according to the firm's 2016 annual report.

Listed on the Main Market since July 2005, shares in CB Industrial Product closed unchanged at RM1.97 today, giving a market capitalisation of RM1.03 billion.