More gains for Sarawak timber firms

KUCHING: Leading Sarawak timber companies, which have benefitted from rising prices of tropical logs after Myanmar banned logs exports, are poised to gain more following the state government’s freeze on the issuance of new timber concession licences and clamp down on rampant illegal logging and smuggling activities.

Last week, Chief Minister Tan Sri Adenan Satem announced that the state government would not issue any more timber concession licences until the widespread illegal logging activities were addressed.