<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on April 16, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Palm oil equipment manufacturer CB Industrial Product Holding Bhd (CBIP) said its unit has been awarded a contract worth RM71.17 million to build palm oil mills in Papua New Guinea’s (PNG) Markham Valley.</p></div>

<div class=newsTextDataWrapInner><p>In an exchange filing yesterday, CBIP said its wholly-owned PalmitEco Engineering Sdn Bhd has received a letter of acceptance (LoA) from New Britain Palm Oil Ltd (NBPOL) for the job. NBPOL is a subsidiary of Sime Darby Plantation Sdn Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Under the LoA, PalmitEco Engineering is to design, supply, instal, commission and complete the construction of a 10 tonne per hour (TPH) continuous sterilisation mini mill, and a 40/60 TPH continuous sterilisation palm oil mill in Markham Valley.</p></div>

<div class=newsTextDataWrapInner><p>CBIP said work for the 10TPH mill is targeted to be completed by November this year, while work for the 40/60 TPH mill is targeted for completion by February 2021.</p></div>

<div class=newsTextDataWrapInner><p>The job is expected to contribute positively to the group’s earnings and net asset per share for the financial year ending Dec 31, 2019 onwards, until completion of the work.</p></div>

<div class=newsTextDataWrapInner><p>CBIP shares closed unchanged at RM1.08 yesterday, with a market capitalisation of RM550.65 million. The stock has retreated over 26% in the past year.</p></div>


KUALA LUMPUR: Palm oil equipment manufacturer CB Industrial Product Holding Bhd (CBIP) said its unit has been awarded a contract worth RM71.17 million to build palm oil mills in Papua New Guinea’s (PNG) Markham Valley.

In an exchange filing yesterday, CBIP said its wholly-owned PalmitEc...

CBIP bags RM71m palm oil mills job in PNG

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Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

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Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

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<p>Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.</p>


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<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


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<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


<p>The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.</p>


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<p>Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.</p>


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<p>The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.</p>


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<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


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<p>Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>


<p>Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.</p>


<p>Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...