NORTH BORNEO SABAH of Philippine Islands

The Sultanate of Sulu was granted the territory as a prize for helping the Sultan of Brunei against his enemies and from then on that part of Borneo is recognized as part of the Sultan of Sulu’s sovereignty. In 1878, Baron Von Overbeck, an Austrian partner representing The British North Borneo Co. and his partner British Alfred Dent, leased the territory known as “Sabah” – roughly translated as “the land beneath the winds”. In return the company will provide arms to the Sultan to resist the spaniards and 5000 Malaysian ringgits annual rental based on the Mexican dollars value at that time or its equivalent in gold. This lease have been continued until the independence and formation of the Malaysian federation in 1963 together with Singapore, Sarawak and Malaysia. Up to these days, the Malaysians have been continuing the rental payment of 5300 Malaysian ringgits – a 300 ringgits increased from original rent. In 1962 during the Pres. Diosdado Macapagal’s administration (the father of the present president, Glorio Arroyo), the Philippines formally claimed Sabah based on the Sultanate of Sulu heirs’ claim on the territory. The Philippines broke diplomatic relations with Malaysia after the federation have included “Sabah”. The sultan’s heirs have given the Philippine government the authority to pursue the claim legally in international courts the Malaysians have been aiding the Muslim separatists against the Philippine government. Some people says this distracted the attention …
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Gold Sovereign Value

BORNEO, Islands, North, PHILIPPINE, SABAH