Japanese Governor to open fishing firm
Published on: Friday, May 22, 1964
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The Company, built with 48 per cent Japanese capital, is estimated to have Capital assets of $5,000,000.
To meet the Governor was Mr S. Ueda, Director of the local company and Managers of the North Borneo Fishing Company, Japan, which is located in Tokyo.
Speaking to the press at the airport, Mr Ueda said that the land factory in Sandakan was now completed and fishing operations had been in progress since March this year.
“We hope to have about forty fishermen here by the end of this month,” Mr Ueda said.
The Director said that so far the company was concentrating mainly in prawn fishing and had handled over 50 tons of deep-frozen prawns, 15 tons of which have been exported to Japan.
He said the company dealt only with the export trade because its large scale production would seriously affect local prices if sold on the open market here.
Mr Ueda said that though the prawn were at present exported to Japan, they would sell to any country “where the market is higher.” The Japanese technicians had been with the company since its inception but he stressed that this was a local concern, as 52 per cent of the shares were held by local business.
The official opening of the Company in Sandakan will be carried out by Mr Kaneko on Sunday, May 24 at 12.30pm.
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