Press Clippings

Palm oil industry gives RM5.3 million to Tabung Harapan

Primary Industries Minister Teresa Kok (centre) receives the mock cheque from Sarawak Oil palms Group chief executive officer Paul Wong (2nd-left), IOI Corporation Group chief executive officer Datuk Lee Yeow Chor (3rd-left), KLK chief executive officer Tan Sri Oi Hian (3rd-right) and Sime Darby Plantation executive deputy chairman and managing director Tan Sri Mohd Bakke Salleh (2nd-right) during the ceremony in Putrajaya. (Bernama pic)

PUTRAJAYA: Four key players in the palm oil industry today gave RM5.3 million to Tabung Harapan Malaysia to help in paying off the country’s national debt.

IOI Corporation Bhd and Kuala Lumpur Kepong Bhd (KLK) each contributed RM2 million, Sime Darby Bhd gave RM1 million while Sarawak Oil Palm Bhd made a contribution of RM300,000.

IOI Corporation Group chief executive officer Datuk Lee Yeow Chor said: “Coming from the leading palm oil companies representing one of the important pillars of the Malaysian economy, this contribution is seen as a fulfilment of our corporate social responsibility to the nation.

“The contribution is also a very meaningful gesture, symbolising our solidarity and support of the new government in resolving the many challenges faced by the country,” he said after the donation was handed over to Primary Industries Minister Teresa Kok today.

Also present were KLK chief executive officer Tan Sri Lee Oi Hian, Sime Darby Plantation executive deputy chairman and managing director Tan Sri Mohd Bakke Salleh as well as Sarawak Oil Palm Group CEO Paul Wong.

Kok said Pakatan Harapan (PH) was touched by the gesture of Malaysians and corporations who had donated to the fund.

“Today, we have big palm oil industry players joining the effort. Thank you for this sincere and exemplary gesture needed at a time when we are facing crucial times.

“I salute you for rising to the occasion and giving to the country without expecting anything in return. This action embodies the true Malaysian spirit.

“We should all ask ourselves what we can do for the country and not what the country can do for us,” she said.

Kok added over the years the palm oil industry had played an instrumental and key role in Malaysia’s economic development, particularly in terms of poverty eradication and socio-economic restructuring.

It has been a main contributor to the nation’s economy where the export value of palm oil and palm-based products in 2017 reached RM77.8 billion, an increase of 15.6 per cent over the total export revenue in 2016.

“I also urge those in the palm oil sector to work with the government in addressing various challenges, misallegations and unsubstantiated negative perceptions faced by the industry,” said Kok.

Source: https://www.nst.com.my/news/nation/2018/07/392714/palm-oil-industry-gives-rm53-million-tabung-harapan