KUCHING: Sarawak has taken over Sabah as the country’s top producer of crude palm oil (CPO) with its production volume surged to 395,858 tonnes in July 2023. Last month’s Sarawak production output jumped by 53,522 tonnes from 342,336 tonnes recorded in June 2023. It was the fourth consecutive month of
KUCHING: Serba Dinamik Holdings Bhd’s (SDHB) subsidiaries have defaulted on payment of three financing facilities totalling about RM435.4 million. Wholly-owned subsidiary Serba Dinamik Group Bhd (SDGB) has defaulted on its payment of the Islamic Club Financing Arrangement provided by MBSB Bank Bhd and Bank Kerjasama Rakyat Malaysia Bhd (collectively, the
KUCHING: The weak international market demand and slowdown in the domestic construction industry have continued to impact the production of Malaysian timber companies. Global Timber Index (GTI)-Malaysia enterprises reported facing the dual challenges of rising raw materials prices and reduced order quantity. In May, GTI-Malaysia index registered 28 per cent,
KUCHING: Malaysia’s export of hardwood plywood to the United States of America (US) has climbed by 21 per cent to 3,688 cubic metres (cu m) in April 2023 from 3,048 cu m in the previous month of March. Major suppliers all benefitted from the rise in US imports of hardwood
KUCHING: Sarawak Consolidated Industries Bhd (SCIB) has fixed the second tranche of its private placement at RM0.3031 per placement share. he issue price represents a discount of approximately 9.98 per cent to the 5-day volume weighted average market price of SCIB shares for the last five market days up to
KUCHING: Malaysia’s shipment of wooden furniture parts (HS 940391) to Japan has risen steeply to worth 245,676,000 yen (RM8.12 million) in March 2023 from 1,640,000 yen (RM54,185) in the previous month. Malaysia is the third largest supplier to Japan after China and Indonesia. Month-to-month, Japan unexpectedly increased the imports of
KUCHING: The European Union (EU) has cut imports of tropical wood and furniture products by double digits in first quarter of 2023 (Q12023) from a year ago, adversely affecting key suppliers like Malaysia. In Q12023, the bloc imported 427,000 tonnes of tropical wood and wooden furniture worth US$896 million, which
KUCHING: Media Chinese International Ltd (MCIL) expects newsprint price, which is currently at a high level, to gradually come down in the short to medium term. The will make a positive contribution to the group’s publishing and printing business, which is continuing to face challenges as high inflationary pressure will
KUCHING: China’s economy has been recovering at a rate much slower than anticipated after the country abandoned its zero COVID-19 policy in December 2022 as seen by the performance of its timber sector. According to China Customs, the country’s log imports in first quarter of 2023 (Q12023) slumped seven per
KUCHING: Subur Tiasa Holdings Bhd group has sunk into the red with net loss of RM7.24 million in first quarter ended March 31, 2023 (Q12023) from net profit of RM11.1 million in Q12022 as all its business segments were reporting losses. The dismal performance was due to significant lower group
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