MARKET DEVELOPMENT
Palm Oil Heads Say Better Communication Strategies Key to Industry's Growth
Palm Oil Heads Say Better Communication Strategies Key to Industry's Growth
14/10/2016 (News Straits Times) - Plantation companies’ personnel need to be better familiarised with communication strategies and skills, as the industry and Malaysia embrace a knowledge-based economy.
This was the main message of a 2-day conference organised by the Malaysian Palm Oil Council (MPOC), a CEO Forum which featured IOI Corp Bhd chief executive officer Datuk Lee Yeow Chor, Sime Darby Plantation Sdn Bhd managing director Datuk Franki Anthony Dass, Kuala Lumpur Kepong Bhd (KLK) chief executive officer Tan Sri Lee Oi Hian and Olam International Ltd president and global head of palm and rubber plantations Supramaniam Ramasamy.
MPOC chief executive officer Tan Sri Yusof Basiron moderated the high-powered forum.
“Among challenges our industry faces are stagnating palm oil yields, as rival soya oil yields have improved in recent years in the USA,” KLK’s Lee told reporters here today.
“As our company grows and our investments diversify to countries abroad from our home, we need to be prepared for black swans,” he added.
A black swan is an event or occurrence which deviates beyond what is normally expected of a situation and is extremely difficult to predict; the term was popularised by Nassim Nicholas Taleb, a finance professor, writer and former Wall Street trader.
IOI Corp’s Lee related harrowing challenges and unexpected outcomes as his company faced recent negative allegations and a palm oil smear campaign by green activists and select online media.
He acknowledged that his team had to undergo a steep learning curve in terms of communicating with the public and stakeholders, as they discovered that the communication landscape is far from straightforward.
Sime Darby’s Franki concurred that business is not what it used to be. But he noted that the establishment of the Council of Palm Oil Producing Countries (CPOPC) has prompted Malaysia to be better at collaborating and communicating with Indonesia.
He lauded Malaysia’s intention to harmonise its crude palm oil export duty and certification standards.
“It’s not good competing with one another. It’s a lose-lose situation to keep undercutting one another,” he said.
Olam’s Supramaniam reiterated that plantation companies should make more effort in engaging with stakeholders, including the media.
When asked to describe their companies in one word, KLK’s Lee replied “inspirational”, IOI Corp’s Lee said “progressive”, Sime Darby’s Franki said “leadership” and Olam’s Supramaniam stated “differentiated.”
This was the main message of a 2-day conference organised by the Malaysian Palm Oil Council (MPOC), a CEO Forum which featured IOI Corp Bhd chief executive officer Datuk Lee Yeow Chor, Sime Darby Plantation Sdn Bhd managing director Datuk Franki Anthony Dass, Kuala Lumpur Kepong Bhd (KLK) chief executive officer Tan Sri Lee Oi Hian and Olam International Ltd president and global head of palm and rubber plantations Supramaniam Ramasamy.
MPOC chief executive officer Tan Sri Yusof Basiron moderated the high-powered forum.
“Among challenges our industry faces are stagnating palm oil yields, as rival soya oil yields have improved in recent years in the USA,” KLK’s Lee told reporters here today.
“As our company grows and our investments diversify to countries abroad from our home, we need to be prepared for black swans,” he added.
A black swan is an event or occurrence which deviates beyond what is normally expected of a situation and is extremely difficult to predict; the term was popularised by Nassim Nicholas Taleb, a finance professor, writer and former Wall Street trader.
IOI Corp’s Lee related harrowing challenges and unexpected outcomes as his company faced recent negative allegations and a palm oil smear campaign by green activists and select online media.
He acknowledged that his team had to undergo a steep learning curve in terms of communicating with the public and stakeholders, as they discovered that the communication landscape is far from straightforward.
Sime Darby’s Franki concurred that business is not what it used to be. But he noted that the establishment of the Council of Palm Oil Producing Countries (CPOPC) has prompted Malaysia to be better at collaborating and communicating with Indonesia.
He lauded Malaysia’s intention to harmonise its crude palm oil export duty and certification standards.
“It’s not good competing with one another. It’s a lose-lose situation to keep undercutting one another,” he said.
Olam’s Supramaniam reiterated that plantation companies should make more effort in engaging with stakeholders, including the media.
When asked to describe their companies in one word, KLK’s Lee replied “inspirational”, IOI Corp’s Lee said “progressive”, Sime Darby’s Franki said “leadership” and Olam’s Supramaniam stated “differentiated.”