Malaysian timber companies have seen their earnings rocket thanks to improved prices and a thriving export market.
WTK Holdings Bhd posted a net profit of M$24.8m for the third quarter, almost double the level of a year ago, while Lingui Developments Bhd turned a small loss into a M$40.8m net profit.
Lingui, which exported 120,000m3 of plywood and 95,000m3 of logs during the quarter, said its better than expected performance was due to steady demand from its traditional export market, coupled with the effects of a tropical log shortage.
Eksons Corp Bhd reported a M$13.5m net profit for its second quarter, compared to a year ago. Higher plywood prices and productivity gains have been credited with the improvement.
Tekala Corp Bhd’s net profit totalled M$6.5m for its second quarter, up from M$2.1m.
