Mewah

Mewah: Announced plans to invest about US$145m in a crude palm oil refinery, packing plant and related logistics facilities in Indonesia.
The project is expected to be completed by the end of its 2013 financial year, and will be financed through proceeds from its IPO, internal funds and bank borrowings, the company said in a statement. The refinery is expected to have an installed capacity of 630,000 mt/yr.

Mewah also said it will delay the completion of its CPO refinery in M’sia's eastern Sabah state to prioritize its Indo refinery project, and will also delay the completion of its packing plants in China's Zhangjiagang and Tianjin cities. Co. didn't state the new expected completion dates for the facilities.

Overall, this news could be positive for sentiments, as Mewah capitalizes on Indonesia’s recent preferential tax treatments for downstream palm oil products, which has been tipped to widely benefit further moves of downstream expansion by Indo CPO players, and also a diversification away from the less lucrative (in terms of tax) Msian mkt.