British North Borneo Company
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history of Malaysia
...in 1872, when British merchant William Cowie founded an east-coast settlement at Sandakan, on lease from Sulu. Having obtained rights to much of the territory by 1881, the British launched the British North Borneo Company, which, based in Sandakan, ruled the British protectorate—as North Borneo—until 1941. The company operated the state in the interest of its shareholders but...
The North Borneo Company operated differently from the Brookes in that it concentrated on developing an extractive economy for the benefit of its shareholders, based mostly on Western-owned tobacco and rubber estates and forest exploitation. Like the Brookes, however, the company created a single state out of many local societies and tolerated little open political activity. Christian missions...
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