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Y. Bhg. Dato’ Abdul Wahab Maskan, Registered Representative of Sime Darby Plantation Sdn. Bhd. was unanimously elected as the Chairman of MPOA for the period from October 2010 to April 2012 at the Council Meeting held on 13th October 2010. Dato’ Abdul Wahab is the Group Chief Operating Officer (COO) of the Sime Darby Group of Companies.

The full Council members for the term 2010-2012 are as follows:

YB Tan Sri Bernard Dompok, Minister of Plantation Industries and Commodities on behalf of the Malaysian palm oil industry made a donation of RM1,443,819 to the Pakistan flood. Also present at the ceremony were the High Commissioner of Pakistan H. E. Masood Khalid and representatives of companies who had contributed to the fund.

In the wake of the catastrophic floods that began in August 2010, Malaysian Palm Oil Council (MPOC) took the initiative to start an emergency fund raising exercise for those affected by this natural disaster by making an initial contribution of USD200,000. In support of this fund, MPOA members and palm oil companies have contributed generously to this worthy cause. The companies include Kuala Lumpur Kepong Bhd, FELDA Holdings, Sime Darby Bhd, IOI Corporation, Wilmar, Kulim ,Malaysian Kuwaiti Investment Co., Bukit Asa Sdn. Bhd., Yapidmas Plantation, Golden Land Berhad and SALCRA.

By Hanim Adnan - StarBiz, Aug 9, 2010

PETALING JAYA: Local plantation players are getting apprehensive about the implementation of the International Accounting Standard 41 for Agriculture (IAS 41) in Malaysia, which they claim will have negative implications on the industry’s accounting practices.By January 2012, Malaysia is set to converge its financial reporting standards with the International Financial Reporting System, which will also include the IAS 41.

Malaysian Palm Oil Association (MPOA) chief executive officer Datuk Mamat Salleh said local oil palm and rubber planters viewed the IAS 41 as an unfair accounting standard to the plantation and other agriculture businesses in the developing countries.

Under the IAS 41, the management of biological assets (oil palm trees) would be changed to fair value accounting (FVA) from the current historical cost accounting (HCA).

MPOA participated in the MPOB Seminar and Workshop on the Palm Oil Mill Effluent Tertiary Treatment Technology. (POMET3) in Kota Kinabalu, Sabah on 5-6 July 2010.

This event brought together representatives of the palm oil industry; particularly those involved in milling and POME treatment on a common platform for active participation and discussion as well as involving – most importantly – the relevant governmental regulatory bodies i.e. DOE, EPD and DID as well as technology providers.

The seminar discussed the regulation imposed by the Department of Environment (DOE), the current state of technology, the availability of effective technologies, recent improvements and advances. And the current state of the rivers, particularly in Sabah, presentations and deliberations also focused on the industry’s real experience with the existing technology.