Latest news with #RM625
Borneo Post
28-05-2025
- Business
- Borneo Post
Awang Tengah: Sarawak's Q1 2025 timber exports reach RM625 mln, plywood leads
KUCHING (May 28): The export value of Sarawak's timber industry for the first quarter (Q1) of 2025 reached RM625 million, with plywood contributing RM317 million, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan. The Second Natural Resources and Urban Development Minister said this marked an increase of four per cent compared to RM305 million for the same period last year. He said Japan remained the top importer with RM359 million, followed by India with RM85 million, Middle Eastern countries (RM77 million), China (RM21 million) and the Philippines (RM20 million). 'In line with technological developments, the Sarawak Timber Industry Development Corporation (STIDC) is also working closely with the Malaysian Timber Council (MTC) through the platform to promote and market timber products through digital platforms. 'To strengthen STIDC's regulatory role, the State Cabinet has approved the Sarawak Timber Industry (Licensing) Regulations 2025. 'In this regard, STIDC has developed the Timber Industry Regulatory and Compliance System (TRACE) to improve service efficiency in line with digital transformation initiatives,' he said in his ministerial winding-up speech at the State Legislative Assembly (DUN) Sitting today. He also said that STIDC is targeting no less than 30,000 hectares for bamboo cultivation by 2030. 'As of April 2025, approximately 4,900 hectares of area had been planted by 17 commercial companies and 200 participants from the community. 'This bamboo yield is important as an alternative source of raw materials,' he said. Awang Tengah said STIDC had also signed a Memorandum of Understanding (MoU) last year with the Malaysian Community Care Foundation Resources Sdn Bhd, Bintulu Port Holdings Berhad, Pertama Ferroalloys Sdn Bhd and the Bintulu Development Authority (BDA) targeting a bamboo planting area of 10,000 hectares. 'To further strengthen this industry, several local and international companies have already shown interest in investing in the downstream industry to produce high-value bamboo-based products such as tissue paper, packaging materials, textiles and biochar,' he said.
The Star
26-05-2025
- The Star
Man, 67, falls prey to promises of profit, loses over RM625,000
JOHOR BARU: A 67-year-old man lost over RM625,000 after falling for a fake investment scheme that promised high returns. Johor Baru North OCPD Asst Comm Balveer Singh said the victim was contacted by an individual named Susan, who introduced him to the scheme in March. 'She got in touch with him through WhatsApp with the attractive opportunity of earning at least 15% profits from his invested amount. 'The victim was then added into a chat group on the app where he was instructed to download another app to manage and monitor his investment,' he said in a statement on Monday (May 26). He added that the victim followed the instructions and performed 16 transactions, depositing RM625,250 in total into five different bank accounts from March 22 until May 19. ACP Balveer said the victim realised he was scammed when he failed to withdraw his profits. 'He was instead told to deposit more money into the scheme so he decided to lodge a police report on Sunday (May 25),' he said, adding that the case is investigated under Section 420 of the Penal Code for cheating, which carries a jail term of up to 10 years and caning and a fine. ACP Balveer said actions will also be taken against those involved in letting others use their bank accounts as mule accounts. 'The public is advised to exercise caution when it comes to investments or depositing their money with strangers. 'The people should also be more aware of commercial crime trends and avoid falling prey to such tactics,' he added. He urged people to use the police's SemakMule portal or app to verify and check the list of mule bank accounts, phone numbers and shell companies used by scammers.
