MINISTER OF PRIMARY INDUSTRIES RECEIVES CONTRIBUTIONS TOTALLING RM5.3 MILLION FOR TABUNG HARAPAN MALAYSIA FROM FOUR PALM OIL INDUSTRY PLAYERS
PUTRAJAYA (20 JULY 2018): Four major players in the palm oil industry today donated a total of RM5.3 million to Tabung Harapan Malaysia to support the crowdfunding initiative set up to help pay off the country’s national debt.
IOI Corporation Berhad and Kuala Lumpur Kepong Berhad (KLK) each contributed RM2 million, Sime Darby Plantation Berhad donated RM1 million while Sarawak Oil Palm Bhd made a contribution of RM300,000. They symbolically presented their cheques to Primary Industries Minister, YB Teresa Kok, after paying the minister a courtesy call at the ministry today.
Present to do the honours were KLK CEO Tan Sri Lee Oi Hian, IOI Corporation Berhad Group CEO Datuk Lee Yeow Chor, Sime Darby Plantation Executive Deputy Chairman & Managing Director Tan Sri Mohd Bakke Salleh and Sarawak Oil Palms Berhad Group CEO Mr. Paul Wong.
Speaking on behalf of the contributors, IOI Berhad managing director 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 with and support of the new Government in resolving the many challenges faced by the country.”
He added that it is hoped that the contribution by the four companies will spur many more corporations and companies to contribute to the Fund.
YB Teresa Kok said Pakatan Harapan is touched by the gesture of individual Malaysians and corporations to donate to the fund in doing their part to help alleviate the national debt.
“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 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.
YB Teresa Kok added that over the years the palm oil industry had played an instrumental and pivotal role in the economic development of the country, particularly in terms of poverty eradication and socio-economic restructuring.
It has been a key contributor to Malaysia’s economic growth where the export value of palm oil and palm-based products in 2017 reached RM77.8 billion, an increase of 15.6% over the total export revenue in 2016.
“I am confident this industry will continue to play an important role to our country’s economic development. In this regard, my Ministry will continue to support and develop this industry.
“I also urge the industry members to work together with the Government in addressing the various challenges, allegations and unsubstantiated negative perceptions facing our industry,” she added.