Sabah & Sarawak

Sizeable start to HSL’s year with RM333 mln contract

Analysts laud Hock Seng Lee Bhd (HSL) for procuring a RM333 million contract for the wastewater treatment plant and sewer networks in Miri from the Sarawak Sewerage Services Department. The project announced last Friday is for 48 months and involves earthworks, wastewater treatment plant, sewer networks, pumping station and property connections. Malaysia keen to standardise CPO duty structure with Indonesia

Malaysia is still negotiating with Indonesia on standardising the export duty structure for crude palm oil (CPO). “We have not finalised anything. We have received feedback from various upstream and downstream industries.

Malaysia hopes to work together with Indonesia on standardising the price structure,” Minister of Plantation Industries and Commodities Datuk Seri Mah Siew Keong told reporters at the Global Palm and Lauric Oils Conference. Govt provides RM50 mln grant to assist commodity industry

The government is providing a grant of RM50 million to assist the commodity industry in addressing food safety concerns, including reducing the level of containment in palm oil.

Minister of Plantation Industries and Commodities Datuk Seri Mah Siew Keong in this context, gave an assurance that palm oil and its derivatives are indeed safe for consumption as a food item. X-FAB plans to raise 250 mln euros in IPO in Paris

Semiconductor firm X-FAB Silicon Foundries plans to raise 250 million euros or US$265 million in an initial public offering (IPO) on Paris Euronext to fund acquisitions and strengthen its capital structure.

The listing looks set to be the biggest in Paris so far this year and one of the largest in Europe by proceeds, according to Thomson Reuters data. Global palm oil output likely to increase by six mln tonnes

Global palm oil output is expected to increase by six million tonnes in 2017 as oil palm trees were recovering from the adverse effects of the El Nino, says a leading industry analyst Thomas Mielke.

He said the current good weather, particularly in Malaysia and Indonesia, the world’s top two producers was also aiding output. KTC completes acquisition of Brunei distribution company

Kim Teck Cheong Consolidated Bhd fulfilled all the conditions precedent set forth in the two inter-conditional agreements to enable KTC to collectively own 60 per cent equity interest in Grandtop Marketing Sdn Bhd.