MALAYSIAN PALM OIL COUNCIL LAUNCHES WILDLIFE CONSERVATION FUND
RM20 Million to Champion Biodiversity Worldwide

London, May 18, 2006 – The Malaysian Palm Oil Council (MPOC), which today hosted a Symposium on Sustainable Resource Development for key stakeholders from across the UK and Europe at the Institute of Directors in London, announced the launch of a Malaysian Ringgit (MYR) 20million Fund to enhance biodiversity conservation related to palm-oil production worldwide.

Dr Yusof Basiron, MPOC’s Chief Executive Officer, took the opportunity when announcing the establishment of the Malaysian Palm Oil Wildlife Conservation Fund (MPOCF), to call upon the delegates including scientists and researchers, conservationists and environmental experts, as well as NGOs interested to participate in enhancing biodiversity conservation related to palm-oil production worldwide to submit their ideas and proposals for funding.

The Fund, a public-sector and government-based initiative, is set up as a revolving facility. It will be kicked off initially with a contribution of MYR10 million mainly from Malaysian palm-oil industry players, with the remainder from Government agencies and the public at large.  It will be operated on a ‘matching grant’ basis, where the MPOC shall match all contributions with an equal sum, up to MYR10 million, to maintain the targeted fund size of MYR20 million.

As custodian of the Fund and organiser of the Symposium, Dr. Yusof invited those who had come to listen to the views of several experts and engage in the ensuing dialogue, to contact  the MPOC in Kuala Lumpur and Brussels for further details on the Fund.

“This Fund will be utilized to support the Council’s objective of enhancing conservation of wildlife and biodiversity to benefit not only the producers, but also the consumers, of Malaysian palm oil worldwide. We will promote study, help finance appropriate wildlife and biodiversity conservation activities, encourage plantations in sustainability, support NGOs in their efforts in conservation, biodiversity and sustainability and generally reaffirm our commitment to good agricultural practices,” said Dr Yusof, himself a chemical engineer and rubber technologist whose PhD in Applied Economics & Management Science was obtained from the University of Stirling, Scotland.

Malaysia, currently the world’s largest producer and exporter of palm-oil products, has long been an advocate of sustainable farming practices.  Having spearheaded extensive research and development over several decades into Good Agricultural Practice, product development – biofuels, lignocellulosic fibres for wood-based products – and examining and promoting the beneficial health properties of edible palm oil, the MPOC has now begun to address issues related to misinformation.

Today’s Symposium, which is part of the MPOC’s continuing effort to address stakeholder concerns from among European regulators and government agencies, environmental bodies and NGOs, food processors and manufacturers, importers and traders, retailers and supermarket chains, attracted key speakers from academia and from within the industry and drew wide participation from over 70 delegates.

The symposium was co-chaired by Prof. Bernard Tinker, a Fellow of the Royal Institute of Chemistry, the Institute of Biology and the Linnean Society, an Honorary Fellow of the Royal Agricultural Society of England, and a Member of the Norwegian Academy of Sciences and Dr Yusof Basiron, CEO of MPOC.  Notable speakers included Dr Yusof Basiron, Mr Tim Stephenson, Trading and Finance Director of Aarhus-Karlshamns, Mr Sam Mannan, Director of Forestry, Malaysia and Prof. R. Hereward V. Corley, an international consultant to the palm-oil industry and UK member of the Editorial Board of the Cambridge journal Experimental Agriculture.

About the Malaysian Palm Oil Council

The MPOC, an industry-funded organisation, undertakes responsible marketing and educational activities for palm oil to ensure the continued confidence of consumers globally. It has become internationally recognised as a centre for information on all matters concerning palm oil and related industries, and continues together with its sister organisation the Malaysian Palm Oil Board (MPOB) to conduct extensive R&D into an industry which was first introduced into Malaya in 1870 from West Africa.

More information about the Malaysian Palm Oil Council is available online at www.mpoc.org.my