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10,153 comment(s). Last comment by pc007 at Mar 23, 2019 2:01 PM
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533 posts

Posted by 5c0160 > Mar 21, 2019 8:39 PM | Report Abuse

good new sk?

653 posts

Posted by samuel > Mar 22, 2019 3:12 PM | Report Abuse

KOTA KINABALU, 14 MARCH 2019: PRICEWORTH International Bhd (Priceworth) expects
to restart operations at its plywood mill in Sandakan soon, having secured the return of about
11,000 cubic metres of logs from the Sabah Forestry Department (SFD).
“We will be able to restart operations at Sinora’s plywood mill in Sandakan with the return of
these logs, while we continue working on the completion of our acquisition of FMU5,” said
Priceworth executive director Richard Koo.
The timber and forest plantation group said it has agreed to pay the royalty, premium,
conservation fee and related costs for a total of 11,098.78 cubic metres of logs.
“We would like to take this opportunity to thank the Sabah State Government and the Sabah
Forestry Department for allowing us to pay by 11 instalments in 2 months from the date of their
letter dated yesterday,” said Priceworth executive director Richard Koo.
“Meanwhile, we will continue to engage with the Sabah Forestry Department on resuming
harvesting operations at FMU 5,” added Koo.
“With the resumption of harvesting, we would be able to focus on supporting the state
government's policy of encouraging more high-value downstream industries,” he said.
Priceworth is working on expanding its downstream operations with a new line for the
production of container flooring. A sustainable supply of raw material is one of the most pressing
issues preventing downstream timber players in Sabah from contributing higher value-added
products to the state’s exports.
Priceworth halted harvesting operations in July 2018 following inspections by the Sabah state
government’s Special Task Force

134 posts

Posted by pc007 > Mar 23, 2019 2:01 PM | Report Abuse

With FMU5, Priceworth will have a stable, regular supply of sustainable, renewable logs from a long term forestry management concession with 81 years remaining on its tenure extending to 2097.

“Properly managed, FMU5 has the potential of producing more than RM1bil worth of legal, certified timber over the next decade based on the independent forester’s estimate.

Currently, Priceworth’s main product is plywood, of which 90 percent is sold to the Japanese market,”

Read more at https://www.thestar.com.my/business/business-news/2018/08/06/fmu5-is-worth-the-price/#Ogg3eZURzhUhJ314.99

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