Danger looming in palm oil industry
Speaking at the Palm Oil Refiners Association (Poram) 2007 Annual Forum and the launch of its revised contracts and arbitration here yesterday, he called on the industry to take steps to resolve the matter urgently, urging them to target particularly the young as well as the experienced.
“With the continuous expansion of the Malaysian palm oil industry and in the light of retirement of many senior experienced personnel and the migration of younger experienced personnel to other competing countries or other industries there is an urgent need to strengthen and enlarge the pool of our human capital,” Chin said.
He said proper training and strengthening of human capital were vital towards long-term sustainability.
“I hope that these type of courses (Poram’s) will attract the young as well as the experienced personnel who are eager to learn and equip themselves with the latest knowledge and skills that would further contribute towards the continued enhancement of the palm oil industry in the future,” he said.
Earlier in his speech, Poram chairman Richard Cheang Kwan Chow said the association would organise an Introductory Course on Marketing and Trading of Palm Oil next May together with Malaysia Palm Oil Board.
He said the course was needed by the industry to train their new personnel and also to attract new entrants to the industry.
Cheang also said Poram had introduced the revised contracts and arbitration rules for palm oil exporters which would be effective from Jan 1 next year.
“Taking cognisance of the inputs from industries the contracts and the rules of arbitration have been updated to facilitate trade,” he said.
He said in 2005, there were major distractions in the market where default in payments and non-delivery of shipments have affected the country’s export business.
“The revised contracts and arbitration were expected to minimise the impact on industry players if any disruption happens,” he said.
– Bernama
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