Timber benefits from housing boom

A property boom in Malaysia's housing sector is expected to boost the country's timber products industry in 2004, says the Malaysian Industrial Development Finance Berhad.

Healthy Chinese and Japanese markets are also expected to mean a favourable outlook for the industry.

Meanwhile, the International Tropical Timber Organisation said export and domestic prices for Malaysian timber products have been rising in the last four months. It attributed the growth to increasing demand from China and rising housing starts in Japan.