By Karen Bong
KUCHING, Nov 29: The Sarawak Timber Industry Development Corporation (STIDC) aims to achieve a cumulative reserve of RM730 million by 2030 to ensure self-sustainability and financial strength.
Its general manager Zainal Abidin Abdullah stated that STIDC has launched a Business Turnaround Plan (2022–2030) focusing on enhancing existing income streams, unlocking asset potential, recovering debts, ensuring cost savings, achieving high investment returns, pioneering strategic investments, and exploring new revenue sources.
Aligned with Sarawak’s Post-Covid Development Strategy (PCDS) 2030, STIDC is also targeting an annual export revenue of RM8 billion by 2030.
“This target focuses on several key areas, including enhancing the panel industry to generate export revenue of RM2.5 billion to RM3 billion, and promoting the development of the engineered wood industry to increase the value of sawn timber from RM700 million to RM1 billion,” he said during the STIDC Afternoon Tea Party with the Media 2024 held at a local hotel today.
Zainal added that STIDC is also committed to developing the furniture industry to generate RM4 billion in export revenue by 2030, boosting the green biomass industry to achieve RM500 million in export revenue and advancing the bamboo-based industry to generate between RM200 million and RM500 million in export revenue.
“The downstream timber industry in Sarawak needs to evolve into an advanced and sustainable sector to ensure optimal returns from raw material resources,” he emphasised.
Zainal expressed hope that the media would continue to expand their coverage of forestry and timber-related topics in Sarawak through news, articles, and television or radio programmes.
“This event celebrates and acknowledges the media’s contributions in promoting STIDC’s activities over the years. Without the support and collaboration of media partners, it would have been challenging for our efforts to reach the public.
“We deeply appreciate the media’s role in consistently delivering accurate information and fostering awareness about our initiatives,” he said.
He also noted that the appreciation event serves as a platform to strengthen relationships, exchange ideas, and develop effective strategies to further promote Sarawak’s timber and bamboo industries.
In addition, STIDC announced an extension for submissions to the 2024 Video Clip Competition, now open until Dec 30, 2024. Attractive prizes await the winners of the first, second, and third places.
Video submissions must focus on one of three themes: the role of STIDC, sustainability initiatives by STIDC, or the STIDC Timber Museum. — DayakDaily
