State’s timber industry impacted by uncertain global economy
KUCHING: The state’s timber industry saw an eight percent drop in export value due to the uncertain global economic situation.
According to Deputy Chief Minister Datuk Amar Awang Tengah Ali Hassan, the drop saw export worth RM2,404 million for the January to May period this year from RM2,627 million in the same period last year.
“Sarawak Timber Industry Development Corporation ( STIDC) and its sub- companies will continue to invest in the industry while diversifying business,” said Awang Tengah who is also Minister of Industrial and Entrepreneur Development.
He said this at the presentation of annual assistance by STIDC and its sub- companies for 2017 at Wisma Sumber Alam yesterday.
“We will invest in other economic activities including furniture from the Acacia tree, and research and development of bamboo products. The timber industry is still the biggest contributor to the state’s economy after oil and gas, and palm oil.
Awang Tengah revealed that plywood is still the main export product for the state with export value worth RM1,254 million for the first five month of this year, a slight decrease from RM1,293 million for the same period last year.
“Other products are timber logs ( RM507 million), sawn timber ( RM344 million), fibre plywood ( RM122 million) and veneer ( RM64 million),” said Tengah.
Japan is still the main market for Sarawak timber products with export value worth RM961 million for the January to May 2017 period followed by India ( RM354 million), Korea ( RM229 million), Taiwan ( RM176 million) and the Philippines ( RM152 million).
Awang Tengah, who is also chairman of STIDC board of directors yesterday presented 59 welfare bodies and nongovernmental organisations assistance worth RM266,000 in total.
Also present were Assistant Minister of Coastal Road Datuk Julaihi Narawi, Assistant Minister of Corporate Affairs Abdullah Saidol and STIDC general manager Datu Sarudu Hoklai.