Sarawak timber firms hit by reduction in export quota

Last year, Sarawak

KUCHING: The state authorities’ reduction in logs export quota and tigthening of timber harvesting activities, coupled with sluggish plywood market, have negatively impacted Sarawak-based timber firms’ bottom lines while slashing the state government’s foreign exchange earnings.

Last year, Sarawak’s export receipt from logs and timber products slumped by 17.5% to RM5.94bil from RM7.2bil in 2015, according to newly released figures from Sarawak Timber Industry Development Corp.