KUALA LUMPUR: BTM RESOURCES BHD []'s subsidiary Syarikat Maskayu Sawmill Sdn Bhd,has received the approval from the Terengganu government to extract forest products in Kemaman.
BTM said on Tuesday, July 12 it had received the approval from the Terengganu State Forestry Department for the forest concession covering 404.70 hectares.
'The agreement is for a period of three years effective from July 3, 2011 to July 2, 2014,' it said.
Under the terms and conditions of the licence, it would have to pay the state government royalties and cess for round timber extracted according to the rates stated in the Goernment Gazette and a premium of RM3,700 per hectare per year in the forest concession.
The yield (round timber) from the concession is estimated at 28 cubic metres per hectare.
BTM said on Tuesday, July 12 it had received the approval from the Terengganu State Forestry Department for the forest concession covering 404.70 hectares.
'The agreement is for a period of three years effective from July 3, 2011 to July 2, 2014,' it said.
Under the terms and conditions of the licence, it would have to pay the state government royalties and cess for round timber extracted according to the rates stated in the Goernment Gazette and a premium of RM3,700 per hectare per year in the forest concession.
The yield (round timber) from the concession is estimated at 28 cubic metres per hectare.
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