Can you try a simpler command? Perhaps just setting with date like in my second assignment in my script. Maybe your system does not like part of the date options??
Code:
> cat date_scr
#!/bin/ksh
EXP_LOC=/u02/oradata/exports
NOW=$(date +"%d%m%y")
echo $NOW
NOW2=$(date)
echo $NOW2
> ksh date_scr
101008
Fri Oct 10 08:24:26 PDT 2008
>