CBIPH bags RM71mil palm oil mill contract in PNG


KUALA LUMPUR: CB Industrial Product Holding Bhd’s (CBIPH) wholly-owned subsidiary, PalmitEco Engineering Sdn Bhd, has bagged a RM71.17mil contract from New Britain Palm Oil Ltd to build palm oil mills in Markham Valley, Papua New Guinea (PNG).

In a filing with Bursa Malaysia yesterday, CBIPH said the contract was to design, supply, fabricate, deliver to site, install, testing, commissioning and guarantee performance for construction of 10 TPH continuous sterilisation mini mill and 40/60 TPH continuous sterilisation palm oil mills.

“The works for the 10 TPH continuous sterilisation mini mill is targeted to be completed by November 2019 or within seven months from the date of site possession and the 40/60 TPH continuous sterilisation palm oil mill by February 2021,” it said.

CBIPH also said that the contract is expected to contribute positively to the earnings and net assets per share for the financial year ending Dec 31, 2019 onwards until completion of the works.

The company does not foresee any exceptional risk other than the normal operational risks associated with the contract. — Bernama

 

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