KUCHING: Vietnam’s forestry sector has achieved a significant milestone in 2023 with the sale for the first time 10.3 million forest carbon credits (10.3 million tonnes of CO2) through the World Bank for US$51.5 million. The figure was given by Vietnam’s Deputy Minister of Agriculture and Rural Development Nguyen Quoc
KUCHING: The United States of America (US) has cut imports of sawn tropical hardwood in 2023 by 29 per cent and hardwood plywood by 25 per cent from the imported volumes recorded in 2022. The import’s slowdown was also reported for wooden furniture which fell by 22 per cent to
KUCHING: Trading in wood products between China and Malaysia, which marks 50th anniversary of diplomatic relations this year, has seen a dramatic change in recent years. For the past 14 years, China had been Malaysia’s largest trading partner but recently the trade in wood products between the two countries has
KUCHING: Malaysia is a key supplier of wooden office furniture and wooden furniture parts to Japan. In October 2023, Malaysia exported 21,819 units of wooden office furniture (HS 940330) worth RM703,445 to Japan and was the second largest supplier of the product after China. China’s shipments of wooden office furniture
KUCHING: Sarawak Cable Bhd (SCB), which is currently in the midst of negotiating with its creditors for a new restructuring scheme, has reported widening losses on shrinking sales. In second quarter ended November 30, 2023 (2Q2023), SCB suffered group net loss of RM35.82 million against RM11.74 million in 2Q2022 as
KUCHING: Supreme Consolidated Resources Bhd will undertake a proposed issuance of 70 million new ordinary shares that is expected to raise RM17.5 million to mainly fund the expansion of the company’s warehousing facility. The indicative price for the proposed share issuance is 25sen per share. Supreme has proposed to withdraw
KUCHING: Dayang Enterprise Sdn Bhd (DESB) has been awarded a contract extension for the provision of Pan Malaysia maintenance, construction and modification (PM-MCM) from Mubadala Energy (SK320) Ltd (formerly known as MDC Oil & Gas (SK320) Ltd). The contract was first awarded to the wholly-owned subsidiary of Dayang Enterprise Holdings
KUCHING: Sarawak Cable Bhd (SCB) has appointed two British nationals to its board of directors. Mazhar UL Latif, 69, was appointed executive director, and Rafat Ali Rizvi, 63, as non-independent director on Dec 29, 2023. According to SCB, Mazhar is a chartered accountant and was an audit senior at Cooper
KUCHING: Timber players globally are facing uncertainties in tenure security as they require long and secure tenure to implement sustainable forest management, preventing deforestation in line with the 17 Sustainable Development Goals of the United Nations, according to Sarawak Timber Association Datuk Henry Lau. “With regrets, I believe that most
KUCHING: Japan has slowed down the imports of plywood to 124,969 cubic metres (cu m) in October 2023, down by about 11 per cent from the month earlier. The correction in import volume was recorded after two months of expansion, according to International Tropical Timber Organisation (ITTO) Tropical Timber Market