Nanning, Guangxi China, 18 September 2023 - A memorandum of understanding (MOU) signed between Sime Darby Oils International Limited (SDO) and Guangxi Beibu Gulf International Port Group Ltd (BGP), underscores the companies’ intention to collaborate in three main areas:
The MOU aspires for a combined target trading volume for shortening and refined palm oil of approximately 500,000 metric tons a year.
SDO’s Managing Director, Mohd Haris Mohd Arshad said, the collaboration presents an exciting opportunity for palm oil products from the company to be sold and distributed in major consumer areas in mainland China, such as South China, Southwest China, and Northwest China through the Qinzhou Port. China has a combined population of about 1.4 billion. SDO is a wholly-owned subsidiary of Sime Darby Plantation Berhad, the world’s largest producer of certified sustainable palm oil.
“With the growing demand for palm oil products and the increasing trade volumes between China and Malaysia, we anticipate that this partnership will promote growth of sustainable supply chain and spur greater demand for palm oil in China” Mohd Haris said. He added that a successful collaboration with BGP would be another milestone for SDO as it builds its position as the preferred supplier of certified-sustainable, high value palm oil products for the global market.
The MoU was signed by Mr. Amir Hamzah, SDO’s Head of Strategy and Business Development and Mr. Ma Zhengyou, BGP Group’s Vice President, and witnessed by Mr. Zhou Shaobo, the Chairman of BGP Group. Under the MoU, both companies intend to collaborate for a period of one year, after which an extension of the collaboration may be considered subject to mutual agreement.
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