MARKET DEVELOPMENT
ESSCOM Restores Investor Confidence In Booming Oil Palm District
ESSCOM Restores Investor Confidence In Booming Oil Palm District
07/09/2013 (Bernama) - The establishment of the Eastern Sabah Security Command (ESSCOM) with increased security personnel to preserve peace and security has restored investor confidence in the booming oil palm district.
The business atmosphere during and after the Sulu terrorists' intrusion here in early February, which impacted business activities in the oil palm sector and created fear among investors, had returned to normalcy, with the business people going about their usual business activities
ESSCOM Director-General Datuk Mohammad Mentek said the investor confidence, particularly investors involved in the oil palm sector, has improved markedly with ESSCOM's establishment.
Hundreds of Sulu terrorists had encroached into Kampung Tanduo, 120km from here, on Feb 11, creating a harrowing episode both to local residents and the business community.
"To boost more confidence among investors, a dialogue with palm oil industry players will be held this month. We will brief them on the government's and ESSCOM's ongoing efforts to restore peace and security in the district," he told Bernama.
Mohammad said business activities in the town area, which were also badly hit during the intrusion, had regained momentum with high level of confidence among traders on ESSCOM's security measures.
"Business is going on as usual despite rumour mongers still roaming around spreading lies of possible intrusion," he said.
Meanwhile, John Oh Joung Woo, a consultant with GBD Sdn Bhd, a company involved in the biodiesel-related business, said the intrusion was an isolated episode as it did not affect the company's operations.
"Of course during the heat of the intrusion, rumours, especially from among the local staff, had been spreading uncontrollably. This had affected the daily staff attendance for work but not to the extent of affecting daily operations," he said.
Oh said investors had full confidence in the government's efforts to restore peace and security in the interests of investors and the economy.
Taiko Fertiliser Sdn Bhd General Manager Phillip Hu said being a local, he was not worried about the intrusion as the government's consistent efforts boosted confidence among investors.
The business atmosphere during and after the Sulu terrorists' intrusion here in early February, which impacted business activities in the oil palm sector and created fear among investors, had returned to normalcy, with the business people going about their usual business activities
ESSCOM Director-General Datuk Mohammad Mentek said the investor confidence, particularly investors involved in the oil palm sector, has improved markedly with ESSCOM's establishment.
Hundreds of Sulu terrorists had encroached into Kampung Tanduo, 120km from here, on Feb 11, creating a harrowing episode both to local residents and the business community.
"To boost more confidence among investors, a dialogue with palm oil industry players will be held this month. We will brief them on the government's and ESSCOM's ongoing efforts to restore peace and security in the district," he told Bernama.
Mohammad said business activities in the town area, which were also badly hit during the intrusion, had regained momentum with high level of confidence among traders on ESSCOM's security measures.
"Business is going on as usual despite rumour mongers still roaming around spreading lies of possible intrusion," he said.
Meanwhile, John Oh Joung Woo, a consultant with GBD Sdn Bhd, a company involved in the biodiesel-related business, said the intrusion was an isolated episode as it did not affect the company's operations.
"Of course during the heat of the intrusion, rumours, especially from among the local staff, had been spreading uncontrollably. This had affected the daily staff attendance for work but not to the extent of affecting daily operations," he said.
Oh said investors had full confidence in the government's efforts to restore peace and security in the interests of investors and the economy.
Taiko Fertiliser Sdn Bhd General Manager Phillip Hu said being a local, he was not worried about the intrusion as the government's consistent efforts boosted confidence among investors.