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FGV Palm Industries, Sime Darby Energy Solutions and Biotek Dinamik enter tripartite MoU on BioCNG

From left: Tuan Syed Mahdhar Syed Hussain, Chief Operating Officer of Plantation Sector & Head of Palm Upstream Cluster of FGV Holdings Berhad, En Habibullah Nordin, General Manager of Sime Darby Energy Solutions Sdn Bhd, and Eddy Yap Wai Hong, Managing Director & CEO of Biotek Dinamik Sdn Bhd. 

KUALA LUMPUR, 31 July 2019: FGV Palm Industries Sdn Bhd (FGVPI) (formerly known as Felda Palm Industries Sdn Bhd), Sime Darby Energy Solutions Sdn Bhd (SDES) and Biotek Dinamik Sdn Bhd (BDSB) are teaming up to produce bio-compressed natural gas (BioCNG) from waste biogas generated from palm oil mill effluent (POME) ponds. (more…)

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FGV refers to the article titled “FGV in talks to sell MSM stake”

We refer to the article above which was published by The Edge Financial Daily today.

The Board of Directors of FGV Holdings Berhad (“FGV”) wishes to clarify that the Group is exploring potential collaborations in the palm and sugar industries, both in the upstream and downstream sectors. These potential collaborations include strategic alliances.

FGV has stated in previous communications that the Group is working on its transformation plan which includes reviewing all underperforming and non-performing businesses, especially the Group’s legacy investments. There are several initiatives that are ongoing and are at various stages of review and implementation.

Since MSM Malaysia Holdings Berhad’s (“MSM”) Johor refinery came onstream in 2019, its total refining capacity increased to 2.2 million tonnes, enabling the Company to serve both its domestic requirements and seek new opportunities in export markets. As such, FGV and MSM are exploring all avenues to successfully enter regional and international markets.

Discussions are still at a preliminary stage.

FGV and MSM will make the relevant announcements at the appropriate time in the event of material developments on this matter.

This announcement is dated 26 July 2019.

 

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FGV Divests its 100% equity interest in FGV China Oils Ltd (FGVCO)

KUALA LUMPUR, 11 JULY 2019 – FGV Holdings Berhad (FGV) had on 10 July 2019 inked an Equity Transfer Agreement with Grand Industrial Holding Co., Ltd (GIH) for the divestment of its 100% equity interest in FGV China Oils Ltd (FGVCO) for a cash consideration of RMB165 million (approximately RM100 million). GIH is a China incorporated entity listed in the Shenzhen Stock Exchange. FGVCO’s shareholders funds as at 31 December 2018 is RMB107 million. (more…)

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