| Summary: | Large-scale plantation development in Sabah, Malaysia, originates with the British North Borneo
Chartered Company’s (BNBCC’s) rule. Although the cash crop may change, Sabah will continue
prospering from its large-scale plantations. Therefore, clarifying its early development strategies is significant.Despite preceding studies, in the early years of development strategies by BNBCC are still unclear, especially from the shareholders’ viewpoint.BNBCC was regulated by the Royal Charter.However, few
know that it was also regulated by the Deed of Settlement of 1882, and its subsequent amendments.
According to this Deed of Settlement, the decision maker for development strategies was the Court of
Directors.Shareholders could elect, reelect and remove directors and could propose development
strategies at general meetings. Shareholders had the greatest influence on the Court of Directors from the depression of the 1890s to 1910. At general meetings, for instance, shareholders proposed improvement of infrastructure -telegraph and railway systems; they suggested the cultivation of rubber as a new cash crop.
This presentation aims to identify (1) the development strategies from 1882 to 1910 and (2) the reason why the development strategies changed so dramatically during the 1890s’ depression. The main sources for this presentation are published books, preceding research papers, and BNBCC documents held in the archives of the Government of Sabah, Kota Kinabalu.In brief, this presentation shows why the Court of Directors and shareholders chose active development strategies rather than the sale of BNBCC during the 1890s’ depression.
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