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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

10/10/2003

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

Bernama

CATEGORY

HEADLINE

Palm oil players call for special fund to assist S
October 8 2003 - THE palm oil fraternity has suggested that a special fundof between RM500 million and RM1 billion be established to assist small-and medium-scale enterprises (SMEs) to be active in downstream activities.

This was one of four proposals materialised at a one-day palm oil seminarorganised by the National Economic Action Council (NEAC) in Putrajayayesterday.

The other three were the establishment of a business intelligence unit, aspecial purpose vehicle for the industry and a consortium to superviseoverseas ventures.

The four proposals made at the seminar have been submitted to theGovernment for consideration. The seminar was chaired by NEAC executivedirector Datuk Mustapa Mohamed.

Among the panel members of the seminar are Kumpulan Guthrie Bhd groupchief executive officer Tan Sri Abdul Khalid Ibrahim and Malaysian PalmOil Board (MPOB) director general Datuk Dr Yusof Basiron.

The proposed fund to assist the SMEs in the palm oil industry’s downstreamactivities was suggested by consulting company Arthur D. Little.

Currently, the industry does not have a fund for research and developmentactivities, except the RM120 million Price Stabilisation Fund to ensurethat palm oil prices does not drop below RM1,000 a tonne.

However, a cess of RM15 for every tonne of crude palm oil is collected, ofwhich RM1 is channelled for research and development activities managed byMPOB.

Malaysia is the world’s largest producer of palm oil by volume, producing11.9 million tonnes last year, of which 10.8 million tonnes worth almostRM20 billion were exported to 140 countries.

INetSendTo: .$StorageTo: .RecipientGroupsExpanded: palmnews_group$Mailer: Lotus Notes Release 5.0.1b (Intl) 30 September 1999$MessageID: INetFrom: rodzi@commserv.mpob.gov.myPostedDate: 10-10-2003 10:02:31 AMRecipients: ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,CN=Ab Halim Ismail/OU=BRANCH/O=MPOB@MPOB,CN=Ab. Malek Nanti/OU=BRANCH/O=MPOB@MPOB,CN=Ab. Rahman Haji Mohamed/OU=BRANCH/O=MPOB@MPOB,CN=Abd. Jalil Murad/OU=BRANCH/O=MPOB@MPOB,CN=Abdul Aziz Jaffar/OU=BRANCH/O=MPOB@MPOB,CN=Abdul Khalil Mohamad Nor/OU=BRANCH/O=MPOB@MPOB,CN=Abdul Rahim Abdullah Sani/OU=BRANCH/O=MPOB@MPOB,CN=Abdullah Hashim/OU=BRANCH/O=MPOB@MPOB,CN=Adrein Tubong/OU=BRANCH/O=MPOB@MPOB,CN=Ahmad Abduh Yaman/OU=BRANCH/O=MPOB@MPOB,CN=Ahmad Saghir Baharan/OU=BRANCH/O=MPOB@MPOB,CN=Ahmad Zuraimi Ab. 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