MARKET DEVELOPMENT
CBIP Secures RM25 Million Contracts For 2 Palm Oil Mills
CBIP Secures RM25 Million Contracts For 2 Palm Oil Mills
17/04/2015 (Bernama) - CB Industrial Product Holding Bhd (CBIP) has secured two contracts valued at RM25.46 million for its modipalm continuous sterilisation milling system from Indonesia's PT Niagamas Gemilang.
In a filing to Bursa Malaysia today, CBIP said the contracts are collectively the 100th system order placed by its clients, representing a new and by far the most significant milestone for its patented technology since its inception a decade ago.
It said the contracts are expected to contribute positively to the earnings of CBIPH Group for the financial years ending Dec 31, 2015 and Dec 31, 2016.
Its unit Modipalm Engineering Sdn Bhd had signed a RM22.09 million contract with Niagamas Gemilang to design and operate a mill with a capacity of 30 metric tonnes (MT) per hour of fresh fruit bunches extendable to 60 MT/hour.
Meanwhile, CBIP's 95 per cent-owned PT CB. Polaindo had inked a RM3.37 million contract with Niagamas Gemilang for a mill with a capacity of 30-60 MT/hour.
In a filing to Bursa Malaysia today, CBIP said the contracts are collectively the 100th system order placed by its clients, representing a new and by far the most significant milestone for its patented technology since its inception a decade ago.
It said the contracts are expected to contribute positively to the earnings of CBIPH Group for the financial years ending Dec 31, 2015 and Dec 31, 2016.
Its unit Modipalm Engineering Sdn Bhd had signed a RM22.09 million contract with Niagamas Gemilang to design and operate a mill with a capacity of 30 metric tonnes (MT) per hour of fresh fruit bunches extendable to 60 MT/hour.
Meanwhile, CBIP's 95 per cent-owned PT CB. Polaindo had inked a RM3.37 million contract with Niagamas Gemilang for a mill with a capacity of 30-60 MT/hour.