KOTA KINABALU: Asia Pacific Exchange (APEX) will have to get approval from the Securities Commission Malaysia for strategic collaboration with Sabah’s Lahad Datu Palm Oil Industry Cluster (POIC).

 This was disclosed by Plantations Industries and Commodities minister Datuk Dr Mohd Kharuddin Aman Razali in a written reply to Datuk Seri Panglima Wilfred Madius Tangau (UPKO-Tuaran) in Dewan Rakyat.

He added that such discussions took place when former minister attended the meeting between APEX and POIC in Dec, 2019 .

“Collaborations would be specific to crude palm oil, and refined, bleached, and deodorized palm oil (RBDPO).

“Also proposed during that time was the establishment of Free Trade Zone at POIC to invigorate businesses after having the APEX delivery location,” he said, adding the collaboration would be under the purview of Sabah government.

Plantation Industries and Commodities Minister

APEX, which is an international derivatives exchange approved by the Monetary Authority of Singapore, which its business scope covers futures and options contracts covering both commodity and financial derivatives products.