APPLICATION FOR CLEARANCE FOR THE PROPOSED ACQUISITION OF NEW BRITAIN PALM OIL LIMITED’S DOWNSTREAM BUSINESS BY SIME DARBY OILS (PNG) LIMITED

The Independent Consumer and Competition Commission (“ICCC”) wishes to inform the general public and relevant industry stakeholders that it has received an Application for Clearance from Sime Darby Oils (PNG) Limited (“SDO PNG”) for its proposal to acquire the downstream business, including related assets, of New Britain Palm Oil Limited (“NBPOL”) (the “Proposed Acquisition”).

According to available information, SDO PNG is a subsidiary of Sime Darby Plantation Berhad (“SDPB”); and is a newly incorporated company in PNG for the purposes of this internal restructure within Sime Darby Group. NBPOL on the other hand, is PNG’s largest oil palm plantation and milling operator, specializing in the cultivation and processing of oil palm into crude palm oil, palm kernel oil and palm kernel expeller for sales to both domestic and foreign markets. NBPOL is also 100% owned by SDPB. 

The Proposed Acquisition involves the purchase of NBPOL’s downstream (or palm oil refining) business and assets of NBPOL relating to the processing of edible oil and related products.

The ICCC therefore calls for submissions and comments from all stakeholders on any likely competition effects this Proposed Acquisition may have on any markets in PNG. All submissions provided to the ICCC will be treated as public information unless confidentiality is sought.

All comments and submissions should be addressed to Mr. Paulus Ain, Commissioner and Chief Executive Officer on the address provided below and must reach the ICCC by or before Friday 10^th April 2024. 

The Application, including details of the Proposed Acquisition, can be accessed and downloaded from the ICCC website at: www.iccc.gov.pg. 

All queries relating to this matter, should be directed to Mr. Barzillai Dominic, Manager – Mergers and Adjudication by telephone on 312 4600 or e-mail to: bdominic@iccc.gov.pg.