KUALA LUMPUR: The Malaysian Anti-Corruption Commission has uplifted the bank account of Jaya Tiasa Holding Bhd’s subsidiary which was frozen on May 15 following a probe into illegal logging.
The timber-plantations based company said on Thursday the anti-graft agency had uplifted the bank account of Jaya Tiasa Timber Products Sdn Bhd.
In the May 15 statement, Jaya Tiasa said it was extending full cooperation to the MACC in the recent state wide investigation in illegal logging activities in Sarawak.
Jaya Tiasa Timber Products’ main activity is purchasing of logs mainly from concessions owned by the group for processing and marketing to end customers.
It had then stated Jaya Tiasa Timber Products did not carry out logging activities.
In a separate statement, Jaya Tiasa said the group had given its commitment to comply with the Wilmar Integrated Policy over peat land.
“The group will implement Best Management Practices on existing plantations on peat as defined by the RSPO (Roundtable of Sustainable Palm Oil) or any peat experts and will not continue planting on the existing remaining peat land bank comprising 0.4% of the group's total plantable land bank after December 2015,” it said.
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