Palm oil stocks rise despite Sabah standoff
Even though the conflict between Sulu invaders and the Malaysian military is heating up in Sabah and a “civil war” in the state has already been declared a possibility by Philippine separatist leaders, shares of plantation companies active in Sabah rallied in the trading week ending March 8.
Among the listed companies that are running plantations in Sabah are Felda Global Ventures, Hap Seng Plantation Holdings, IOI Corp, Kuala Lumpur Kepong, Sime Darby and Wilmar International. Most of their shares have been up or were at least flat since the beginning of March.
Malaysia’s Plantation Industries and Commodities Minister Tan Sri Bernard Dompok was quote as saying by The Edge newspaper that he thinks that “palm oil refineries are not in any way disturbed by what is happening in Sabah. The refineries are basically in the town and industrial areas and not in areas where the hostilities are.”
However, the conflict seems far from being resolved quickly. It could even widen into a civil war engulfing Sabah, a Philippine separatist leader has warned.
“I am afraid there will be a civil war in Sabah because thousands of Bangsamoro [mainly Muslim people who are natives of the Sulu archipelago, parts of Mindanao and parts of Palawan in the Philippines] are residing in Sabah,” Gapul Hajirul, political chief of the Moro National Liberation Front (MNLF), was reported as saying by the Philippine Star news portal on March 2.
Meanwhile, the Sulu Sultanate has called for a ceasefire on March 7 as more of its soldiers fell from gunfights in Sabah, promising that its army will lay down arms and take on a defensive stance if Malaysia’s security forces agree to do the same.
Philippine media have placed the death toll in Sabah at 40, including eight Malaysian policemen, with more reports streaming in that more Filipino militants are falling at the hands of security forces. At least 10 of the Sultanate’s fighters in Sabah are dead, 10 others captured and others wounded from the fierce gunfights in the coastal Lahad Datu district.
[caption id="attachment_7518" align="alignleft" width="270"] Felda Global Ventures' stock price chart over the past month (click to enlarge)[/caption] Even though the conflict between Sulu invaders and the Malaysian military is heating up in Sabah and a "civil war" in the state has already been declared a possibility by Philippine separatist leaders, shares of plantation companies active in Sabah rallied in the trading week ending March 8. Among the listed companies that are running plantations in Sabah are Felda Global Ventures, Hap Seng Plantation Holdings, IOI Corp, Kuala Lumpur Kepong, Sime Darby and Wilmar International. Most of their shares have been up...
Even though the conflict between Sulu invaders and the Malaysian military is heating up in Sabah and a “civil war” in the state has already been declared a possibility by Philippine separatist leaders, shares of plantation companies active in Sabah rallied in the trading week ending March 8.
Among the listed companies that are running plantations in Sabah are Felda Global Ventures, Hap Seng Plantation Holdings, IOI Corp, Kuala Lumpur Kepong, Sime Darby and Wilmar International. Most of their shares have been up or were at least flat since the beginning of March.
Malaysia’s Plantation Industries and Commodities Minister Tan Sri Bernard Dompok was quote as saying by The Edge newspaper that he thinks that “palm oil refineries are not in any way disturbed by what is happening in Sabah. The refineries are basically in the town and industrial areas and not in areas where the hostilities are.”
However, the conflict seems far from being resolved quickly. It could even widen into a civil war engulfing Sabah, a Philippine separatist leader has warned.
“I am afraid there will be a civil war in Sabah because thousands of Bangsamoro [mainly Muslim people who are natives of the Sulu archipelago, parts of Mindanao and parts of Palawan in the Philippines] are residing in Sabah,” Gapul Hajirul, political chief of the Moro National Liberation Front (MNLF), was reported as saying by the Philippine Star news portal on March 2.
Meanwhile, the Sulu Sultanate has called for a ceasefire on March 7 as more of its soldiers fell from gunfights in Sabah, promising that its army will lay down arms and take on a defensive stance if Malaysia’s security forces agree to do the same.
Philippine media have placed the death toll in Sabah at 40, including eight Malaysian policemen, with more reports streaming in that more Filipino militants are falling at the hands of security forces. At least 10 of the Sultanate’s fighters in Sabah are dead, 10 others captured and others wounded from the fierce gunfights in the coastal Lahad Datu district.
