Yong should think of Sabah’s priority first
Published on: Sunday, March 07, 2021
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Credit: malaysiakini.com
The new additional RM2 cess per ton is on top of the existing RM14 per ton of Crude Palm Oil, making a total of RM16 per ton.
Sabahans must be disappointed and depressed with such statement that just increasing cess by RM2 per ton of crude palm oil will destroy Sabah economy. Based on his statement Yong must be for and representing capitalists and the rich.
Yong being a former Chief Minister and veteran politician must be aware of facts and figures on oil palm in Sabah.
He cannot be categorised as being ignorant. He must have read Datuk John Lo’s article published in Daily Express on Sunday, January 17, 2021 under the heading “Sabah leaders taken for a ride on Oil Palm”.
In his article Lo begun with his critical subject of a failure to discern truth and untruth which implied to our Sabahan leaders. If Yong had not read it, he can look for the papers and study Lo’s facts and figures on Oil Palm in relation to the overall Sabah economy.
Briefly, Yong must accept reality and not be carried away by Peninsular (Malaya) “Towkays”.
1. Total area of prime land in Sabah and given to Malayan companies without any equity for Sabah is 4.2 million acres;
2. 4.2 million acres will produce 6.8 million tons of oil;
3. At just say RM3,000 per ton and the total amount earned or collected by Malayan companies is RM20.4 billion;
4. Cost of production is only 40pc or RM8.16 billion;
5. Net profits for Malayan companies are RM12.24 billion;
6. Less RM16 Palm Oil Crude cess after additional RM2.00 – there is still RM12.13 billion left with Malayan Companies;
7. In addition Sabah Government only collected about RM11 million from Quit Rent of the 4.2 million acres.
For a fair and just share of assets, the cess should be RM100 per ton of crude oil palm. This will give the state RM680 million yearly.
Yong, please clarify your stand.
Awang Jambul
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