Friday 29 Mar 2024
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KUALA LUMPUR (Feb 14): CB Industrial Product Holding Bhd (CBIP) shares rose 5.77% in early trade today after it bagged four contracts worth a combined RM131.7 million to build two palm oil mills, a palm kernel crushing plant and a biogas power generator plant.

At 9.05am, CBIP rose 6 sen to RM1.10 with 206,800 shares traded.

The contracts, clinched through CBIP’s wholly-owned unit PalmitEco Engineering Sdn Bhd, were awarded by Indonesian plantation companies PT Sanjung Makmur and PT Kodeco Agrojaya Mandiri.

Sanjung Makmur had awarded an RM44.75 million contract to build a palm oil mill, with processing capacity of 45 tonnes of fresh fruit bunches (FFB) per hour within 18 months.

Meanwhile, Kodeco Agrojaya Mandiri awarded three contracts totalling RM86.96 million to build a palm oil mill with processing capacity of 60 tonnes of FFB per hour, a kernel crushing plant with processing capacity of 200 tonnes per day and a 1,600-kilowatt biogas power generator plant.

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