Bursa completes first physical delivery of FEPO in Sarawak

KUALA LUMPUR (June 14): Bursa Malaysia Derivatives Bhd has completed the first physical delivery under the East Malaysia Crude Palm Oil Futures (FEPO) contract in Sarawak last Friday (June 10). Bintulu Port group chief executive officer (CEO) Datuk Mohammad Medan Abdullah said the first physical delivery marked a new milestone for Biport Bulkers. “As the biggest palm oil terminal in Sarawak, Biport Bulkers handles more than 91% of total palm oil export in Sarawak and 24% of the total Malaysian palm oil export. Meanwhile, Sarawak Oil Palm Plantation Owners Association chairman Eric Kiu Kwong Seng said: “With Bintulu Port's world-class logistical infrastructure, Sarawak producers are now able to sell their crude palm oil on the Bursa Malaysia Derivatives platform, which is accessible electronically and globally. Bursa said it has now completed physical deliveries under the FEPO contract in all three PTIs in East Malaysia, namely Sandakan, Lahad Datu and Bintulu.