Thursday, November 3, 2011

Lingui plans RM143m investment for FY2012

KUALA LUMPUR (Nov 3): LINGUI DEVELOPMENT BHD [] plans to invest RM143 million in FY2012 for timber replanting efforts, infrastructure and upgrading of equipment.

Its managing director Yaw Chee Ming said on Thursday the group is looking at replanting between 10,000 ha to 15,000 ha of its timber PLANTATION [] here for FY2012.

"Our hardwood trees mature between 8 to 10 years. We have planted some 30,000 ha and hope to replant up to 15,000 ha," he said after the group's AGM, adding replanting cost between RM4,000 to RM5,000 per ha.

Yaw also said Lingui plans to upgrade its machinery to cope with worker shortage from Indonesia.

On its softwood plantations in New Zealand, Yaw said Lingui plans to increase its harvest to 800,000 per cubic metre per annum in the next two to three years, with the upgrading of infrastructure.

"We are investing between RM8 million to RM12 million to build roads and other infrastructure that would help increase our harvest," he said.

Lingui has 25,000 ha of planted pine trees in New Zealand and harvested 520,000 cubic metres of softwood for FY2011.

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