Malaysia: Investment in furniture production will bring substantial benefits to Sarawak

Fonte:
ITTO's Tropical Timber Market Report
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The Ministry of International Trade and Industry is urging the timber sector in Sarawak, as the state with the largest timber resource, to consider expanding investment in the furniture industry. This, says the Ministry, could lead to a higher return on investments. The Ministry added that, while Malaysia exported RM8 billion worth of furniture in 2010, Sarawak’s share was a mere RM20 million of the total. The Sarawak Timber Industry Development Corporation (STIDC) hoped that its planned establishment of extensive plantations will provide resources for the furniture industry in Sarawak to take off.

Risk of credit squeeze looms in Malaysia and across Asia
According to Nomura International (Hong Kong) Ltd, the Malaysian economy is expected to recover in the second half of 2012 and fourth quarter 2012 growth of up to 7.3%. Growth in the third quarter 2011 is projected at 5.8% and fall to around 4% in the final quarter of the year. The exposure of Malaysian banks to European banks reportedly stood at US$50 billion in June 2011 excluding investments by HSBC and Standard Chartered baks, both of which have significant operations in Malaysia. European banks with large overseas exposure may tighten credit lines and lessen their exposure in Asia which could lead to tighter credit conditions and net capital outflows from Asian countries.

Government spending led growth may be unsustainable in the long term
The current GDP growth achieved in Malaysia was driven by public sector investment with one-third of this coming from direct government spending. This, say analysts is unsustainable in the long term. As a result there is not much room for expansionary fiscal policy in Malaysia for 2012 due to the relatively high public-debt-to-GDP ratio of 55%, the second highest in Asia. The outlook for the Malaysian timber industry in 2012 remains uncertain as prices of timber and wood products remain weak mainly because of poor housing starts in major export markets.

Malaysia Log PricesLog Export Prices (Sarawak)

Sarawak log, FOB US$ per m³
Meranti SQ up 265-292
Small
253-286
Super small
255-279
Keruing SQ up 247-259
Small
238-271
Super small
227-251
Kapur SQ up 239-265
Selangan Batu SQ up 244-278
 
Domestic log Prices
Pen. Malaysia logs, domestic (SQ) US$ per m³
DR Meranti 283-302
Balau 325-355
Merbau 378-409
Rubberwood 106-140
Keruing 247-263
Peninsular Malaysian meranti logs are top grade and are used for scantlings for the EU. Their prices are higher than Sarawaks.


Export Sawnwood Prices

Malaysia Sawnwood, FOB US$ per m³
DR Meranti 412-448
White Meranti A & up
308-338
Seraya Scantlings (75x125 KD)
448-460
Sepetir Boards
276-305
Sesendok 25,50mm
362-380
Kembang Semangkok
343-372
 
Domestic Sawnwood Prices
Malaysian Sawnwood, domestic
US$ per m³
Balau (25&50mm,100mm+)
344-364 
Merbau
485-537
Kempas 50mmx (75,100 & 125mm)
289-329
Rubberwood 25x75x660mm up
236-287
50-75mm Sq.
275-307 
>75mm Sq.
297-327



Export Plywood Prices

Malaysia ply MR BB/CC, FOB US$ per m³
2.7mm
443-504
3mm
425-455
9mm & up
377-447
Domestic Plywood Prices
Meranti ply BB/CC, domestic US$ per m³
3mm
369-459 
12-18mm
352-381



Other Panel Export and Domestic Prices

Malaysia, Other Panels, FOB US$ per m³
Particleboard Export 12mm & up
262-285
Domestic 12mm & up
253-267
MDF            Export 15-19mm
313-345
Domestic 12-18mm
305-324



Export Added Value Product Prices

Malaysia, Mouldings, FOB US$ per m³
Selagan Batu Decking
574-586
Red Meranti Mouldings 11x68/92mm x 7ft up
Grade A
568-601
Grade B
543-553



Export Furniture and Parts Prices

Malaysia, Rubberwood, FOB US$ per piece
Semi-finished dining table solid laminated top 2.5'x4', extension leaf
78-94
As above, Oak Veneer
84-98
Windsor Chair
77-79
Colonial Chair
75-80
Queen Anne Chair (soft seat) without arm
74-86
with arm
77-87
Chair Seat 27x430x500mm
63-68
Rubberwood Tabletop US$ per m³
22x760x1220mm sanded & edge profiled
Top Grade
634-664
Standard
617-633


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