Upgrading and Relocation of 10,000 BOPD Oil Refinery Project in Maloy, East Borneo

- Located on 1950 km to North of existing location. - Different land , island and province - New location at East Borneo - Has the industrial permits under special economic zone - Provide for 80 ha location - Closed to CPO production for Bio diesel product - Close to corporate market - Close to Gas field for Power supply - Financing industries ; Bank , Private Equity, Investment Bank, Equity partners , Debt Financing partners - Technology Licensing and Upgrading of 10,000 BOPD - Vendors and Manufactures - Packages and Manufactures - Feed Oil Supply - Offtaker of Production Oil  MALOY INDUSTRIAL ESTATE , EAST BORNEO Construction of new Small Scale Crude Oil Refineries are declared -National Priority projects for development by the RI Government. -Refineries are designated Pioneer Industries April 2018 tax law issued by Ministry of Finance. Pioneer Industries are entitled to substantive,Tax Holidays,  corporate income tax (CIT) - Normal Indonesian CIT rate is 22%, reducing to 20% on 1 Jan 2022. - For the Maloy Refinery the applicable Tax Holiday rates are:  0% CIT for first 7 years from date of first commercial sales and 10.0% CIT for following 2 years, 20% thereafter. - The bottom line impact of the Tax Holiday is SUBSTANTIAL.