CORP BRIEF: FGV, MMC Corp, BSL Corp and palm oil

by TMR / pic by TMR FILE

FGV appoints independent audit firm to assess its ops

FGV Holdings Bhd have appointed Elevate as the independent auditing firm to conduct an assessment of FGV’s operations against the 11 International Labour Organisation Indicators of Forced Labour. The assessment is part of FGV’s efforts towards petitioning for the revocation of the Withhold Release Order by the US Customs and Border Protection, FGV said in a filing to Bursa Malaysia yesterday. FGV has already had discussions with its US-based legal counsel and Elevate on the audit design and plan, which is expected to begin this month.

MMC Corp’s shares will be suspended on Nov 26

MMC Corp Bhd shares will be suspended on Friday, Nov 26, 2021, on Bursa Securities Main Market, while shareholders who are eligible for the cash payment from the privatisation exercise will be determined based on the records of depositors on Monday, Nov 29, the company said in a bourse filing yesterday.

BSL Corp receives LoA to supply semiconductor parts

BAN Seng Lee Industries Sdn Bhd (BSLI), a wholly owned subsidiary of BSL Corp Bhd, has received a Letter of Award (LoA) from SDU Pte Ltd to nominate BSLI as the manufacturer to fabricate and supply semiconductor components, sub-assembly modules and any other business related to SDU principal activities. The supplies to SDU would be made in phases and in accordance with the purchase order issued by SDU, said BSL Corp ED Brian Hoo Wai Keong. BSL Corp had on Nov 10, 2021, entered into share sale agreement to acquire SDU which is pending completion.

Malaysia exports 327,936 tonnes of palm oil to India last month

INDIA imported 327,936 tonnes of palm oil from Malaysia in October, constituting about 30% of its total vegetable oil imports during the month. The volumes from Malaysia were made up of 314,950 tonnes of crude palm oil, 6,999 tonnes of RBD palm olein and 5,987 tonnes of crude palm kernel oil, according to data released by trade group Solvent Extractors’ Association of India yesterday. India’s overall edible oil imports during the month were more than one million tonnes compared to almost 1.7 million tonnes in September. The country’s vegetable oil imports in October were worth US$1.6 billion (RM6.66 billion).