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TIMBER NEWS 2020

PAPAR, June 30 -- The proposal paper to form a consultative council consisting of timber industry players, the government and related agencies will be presented to the state cabinet soon.
Sabah Deputy Chief Minister who is also state Trade and Industry Minister, Datuk Seri Wilfred Madius Tangau said the consultative council would serve as a platform to hear and discuss issues faced by the wood-based industry sector.
“The council will comprise the Sabah Timber Industries Association (STIA), Timber Association of Sabah (TAS), the Forestry Department, Yayasan Sabah and other related agencies.

KOTA KINABALU, June 23 -- A legal framework is being drafted to ensure that timber planted by villagers in Sabah can be used as raw materials for the downstream timber-based industry without impediment.
Deputy Chief Minister Datuk Seri Wilfred Madius Tangau, who is also State Trade and Industry Minister, said the proposed legislation, which would be submitted to the state cabinet, was aimed at safeguarding the sustainability of the state's timber industry while ensuring a sufficient supply of raw materials for making wood-based products.

Source: The Malaysian Reserve page 12




JELI (BERNAMA) – The agarwood downstream industry has the potential to grow even further as many entrepreneurs have yet to take part in the sector, especially in perfume manufacturing, said Malaysian Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali.
He said that locally, there has been a lack of participation in the industry, despite the fact that Southeast Asia is well known for producing agarwood essential oils used to produce perfumes in the Middle East.

KUALA LUMPUR, June 9 (Bernama) -- The Covid-19 pandemic brought much of the world economies to a grinding halt. It was tough for businesses to keep their financial wheels turning and the impact of lockdowns were particularly brutal for companies with little reserves for managing sudden slumps.

Malaysia was not spared as the economic indicators showed a worrying trend during the Movement Control Order (MCO) when it was first implemented from 18-31 March 2020 to contain the pandemic.

As many companies faced mounting challenges to survive as supply and demand for both overseas and domestic markets were disrupted, the government of Malaysia had promptly rolled out the “Prihatin Stimulus Package” of over RM260 billion (USD61 billion) to weather the financial crisis brought on by Covid-19.