Focus Lumber inks industrial tree planting agreement

KUALA LUMPUR: Focus Lumber Bhd has entered into an industrial tree planting agreement with Rakyat Berjaya Sdn Bhd .

The agreement is for the former to plant, rehabilitate and harvest forests in about 5,000 hectares of forest reserve at the Sungai Pinangah Forest Reserve in Sabah.

In a filing with Bursa Malaysia, the group said the agreement will expire in tandem with the duration of the sustainable forest management licence agreement by Sept 9, 2097.

Focus Lumber said the deal will allow it to manage and secure wood resources on a long-term basis in the designated area for the purposes of sustainable production of timber and natural forest produce and for harvesting, distributing, processing and export of such timber, forest industrial products and other relevant materials or products which may be available.

“With the ITPA, Focus Lumber will be able to ensure stable and sufficient supply of the logs in the future, at a cost which is lower as compared to buying from log suppliers,” it said.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Focus Lumber , ITPA , forestry , Sungai Pinangah , timber


Next In Business News

Affin appoints Mohammad Fairuz Mohd Radi as executive director of group community banking
Moody's cuts China's credit outlook to negative
Foxconn raises Q4 outlook on strong year-end holiday sales
Asian stocks slide as focus turns to US jobs
Oil prices little changed amid OPEC+ cut doubts, Mid-East tension
Maybank IB cautiously optimistic about Malaysia’s economy, equities next year
eMadani provision will not raise inflation in Malaysia - Ahmad Maslan
NCT Group sees strong demand for Ion Belian Garden in Batang Kali
FBM KLCI slips further at lunch break
Australia's central bank holds cash rate at 4.35%

Others Also Read