KUCHING: Sarawak Cable Bhd is currently in negotiations with its creditors for a new debt restructuring scheme. The creditors rejected the previous restructuring proposals during a recent court meeting. The company, which is under PN17 status, stated that it is addressing the concerns raised by the creditors. In an update
KUCHING: Japan’s monthly plywood imports has arrested the downward trend since this year, with double-digit increase in shipment volume reported in August 2023. August’s import volume rose 23 per cent from the previous month of July to 115,000 cubic metres (cu m) but was down more than 30 per cent compared to
KUCHING: Malaysia’s timber industry is still stuck in the doldrums, affecting exports and timber prices. In September 2023, the timber industry was still relatively sluggish, according to the monthly Global Timber Index (GTI) report on Malaysia. “The GTI-Malaysia enterprises reported a decline in timber exports and continued sluggish demand in
KUCHING: Sarawak Cable Bhd’s external auditor Messrs Baker Tilly Monteiro PLT has issued a disclaimer of opinion on the group’s financial statement for the year ended May 31, 2023. The auditor said it was engaged to audit Sarawak Cable’s financial statements, which comprise the statements of financial position as at
KUCHING: Reneuco RE Sdn Bhd has inked a memorandum of understanding (MoU) with Petaling Jaya City Council (MBPJ) for the installation of rooftop solar photovoltaic (PV) at MBPJ Innovation Centre, Taman Sains Selangor. The project is under the Scheme Category of Net Energy Metering Programme (NEM) 3.0. The proposed capacity
KUCHING: PMB Technology Bhd’s wholly-owned subsidiary PMB Carbon Sdn Bhd is selling a piece of leasehold land in Klang, Selangor for RM36.59 million. PMB Carbon has entered into a sale and purchase agreement (SPA) with Ong Saut Mee for the disposal of the land measuring about 56,656 sq m. The
KUCHING: WTK Holdings Bhd has reported impressive production volumes of crude palm oil (CPO), fresh fruit bunches (FFB) and palm kernel in the July-September 2023 quarter (3Q2023) from a year ago. In the current quarter under review, CPO output soared by 261 per cent to 16,139 tonnes (3Q2022: 4,472 tonnes).
KUCHING: Sarawak’s monthly export revenue from timber and timber products has plunged by about 40 per cent to RM189.9 million (free on board value) in September 2023 from RM314.6 million in previous month of August or down by a hefty RM124.8 million. Leading the downtrend in the exports were plywood
KUCHING: Seventeen countries, including Malaysia, have objected to the unfair EU Deforestation Regulation (EUDR) in a joint letter they sent recently to European Union (EU) Commission and Parliament officials. The letter described EUDR as an “inherently discriminatory and punitive unilateral benchmarking system that is potentially inconsistent with WTO (World Trade
KUCHING: Japan’s wooden furniture imports in July 2023 fell from the previous month due to the weakening of the yen against the US dollar, the International Tropical Timber Organisation (ITTO) Tropical Timber Market Report said. “Year on year, there was a considerable fall in the value of imports, if set
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