25 Cents Red print

The British North Borneo Company was a chartered trading company holding sovereign administrative authority over British North Borneo — one of the last instances of a commercial entity functioning as a de facto colonial government. Its banknote issues were legal tender within the territory, an arrangement that persisted until the Japanese occupation in 1941 effectively ended the Company's administrative role.

The "Red print" designation distinguishes this from earlier printings of the same denomination and reflects a deliberate colour change rather than a new series. Small-denomination Company notes from this period suffered heavy attrition through everyday commerce, and surviving examples across the P#12 type are genuinely scarce.