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Special status for oil palm website.

Date: Saturday, May 1 2004

Oilpalmworld Sdn Bhd--Malaysia's first oil palm electronic marketplace--has been granted MSC status by the Malaysian government.

This is a special package offered to IT companies by the Multimedia Development Corporation of Malaysia, to encourage them to invest in R&D in information

technology in the country. Benefits include tax exemptions for five years and the flexibility to easily employ foreign IT workers.

www.oilpalmworld.com offers access to buyers, sellers, plantation owners, refiners, traders, brokers, consultants, equipment and fertiliser manufacturers, chemical suppliers, logistics providers, government agencies and research institutions.

More than 350 companies from more than 40 countries have registered as members. Members can trade, buy and sell, as well as access market intelligence and live prices either through the site's exchange or through their own secure, embedded exchange.

The company said most members had shown interest in the site's trading and market intelligence modules. The site receives about 2,000 hits/day from 60 countries for all searches on the internet relating to palm oil.

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Subject: Commodity exchanges (Forecasts and trends), Web sites (World Wide Web) (Achievements and awards)
Product: Commodity Exchanges
Location: Malaysia

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Special status for oil palm website.

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