Thursday, July 27, 2017

100 years Palm Oil coin on 9 August

Bank Negara Malaysia is issuing commemorative coins in conjunction with 2017 being the 100th Anniversary of the Malaysian Palm Oil Industry. Malaysia has the distinction of being one of the world’s largest producer and exporter of palm oil. The palm oil sector has contributed significantly to the cumulative export earnings for the country, through the export of the commodity and many value-added products to the global market. It has contributed to job creation and enhanced the welfare and living standards of many in the rural areas within the country.

Mah Siew Kong

These commemorative coins were launched by YB Datuk Seri Mah Siew Keong, Ministry of Plantation Industries & Commodities today at the Museum and Art Gallery, Bank Negara Malaysia, Sasagna Kijang, Kuala Lumpur.

100 years Palm Oil

The coin obverse show the official logo of the 100th Anniversary of the Malaysian Palm Oil Industry celebration which reflects the progress of the palm oil industry in Malaysia is depicted in the centre of the coin. The words “MINYAK SAWIT MALAYSIA, KEBANGGAAN DAN PENCAPAIAN KITA” appears on the circumference of the coin.

Malaysia coin

On the coin reverse, the words “BANK NEGARA MALAYSIA” as the issuing authority of the commemorative coin are featured on the upper circumference of the coin, while the face value of the coin is inscribed on the lower circumference. The centre of the coin features the image of the stylised palm oil tree, symbolising the growth and development of the palm oil industry towards achieving excellence in its 100th anniversary celebration.

Specifications of the commemorative coins are as follows:

Coloured Silver Commemorative Coin (proof)
This proof coloured coin is made of Fine Silver with 99.9 purity and weighs 31.10 grams. It has a face value of RM10 and will be sold at RM230 a piece. The mintage quantity is 700 pieces.
Note: Price stated is subject to GST of 6%.

Nordic Gold Brilliant Uncirculated (B.U) Commemorative Coin
The Nordic Gold (B.U) coin has a face value of RM1 and will be sold at RM10 each. The mintage quantity is 13,000 pieces.
Note: Price stated is subject to GST of 6%.

These commemorative coins are also available in Sets of 2. The Set of 2 comprises the coloured silver and nordic gold proof coins. This set will be sold at RM280 per set (price is subject to GST of 6%) with 1,300 sets available.

These commemorative coins are issued by Bank Negara Malaysia. Display units will be available for public viewing from Monday, 31 July 2017 at Bank Negara Malaysia’s Museum and Art Gallery (MAG) and offices located in Penang, Johor Bahru, Kota Kinabalu, Kuching and Kuala Terengganu. The coins will be available for sale from Wednesday, 9 August 2017 at the same locations.