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 Business

Priceworth’s April log production hits record high

17th May, 2018

KUALA LUMPUR: Sabah-based timber and sustainable forest management group, Priceworth International Bhd’s log production hit a record high of 32,800 cubic metres in April 2018, almost tripling last year’s April production of 11,323 cubic metres.

When compared on a month-on-month basis, April’s production was an increase of 32 per cent from 24,846 cubic metres recorded in March.

“This is the highest monthly production volume recorded since 2011, after Sabah adopted the Sustainable Forest Management policy in 2010.

“The improved production was attributed to better weather conditions, efficient harvesting and expansion of operations in Forest Management Unit 5 (FMU5),” it said in a statement Wednesday.

Executive Director Richard Koo said the increase in log production was largely contributed by Compartments 57 and 58 under FMU5 which the group started harvesting late last year.

“This enables us to improve the utilisation rate of our downstream timber processing facilities which will contribute positively to the group’s earnings in the coming quarters,” he said.

The group had also received the nod to commence harvesting activities in Compartments 63 and 64 under FMU5.

“We are optimistic that our log production will continue to trend upwards as we start harvesting the two new compartments in the coming month,” added Koo. –Bernama

   
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