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I believe this might have come up before, but Northern Borneo was one of the late colonial acquisitions. Purhcased by private interests, there were a number of countries, the United States, Austria-Hungary, and Italy, who were offered use, if not outright purchase, of the territory. Eventually it ended up in the hands of the British as part of what would later become Sarawak.
Now, there are three scenarios here:
How would Northern Borneo developed if incorporated as an American Territory sometime between 1865-1875?
How would Northern Borneo developed if incorporated as an Austro-Hungarian Territory sometime between 1875-1880?
How would Northern Borneo developed if incorporated as an Italian Territory sometime around if not slightly before 1880?