KOTA KINABALU: Activities such as the MEGAHOME expo contribute greatly to the local economy while according people wider choices in home appliances and furniture.
Held at the Sabah International Convention Centre (SICC) here, it was the largest electrical and home exhibition in the State.
It showcased various innovations and the latest trends in home electrical appliances, electronic devices, and interior design among others.
Deputy Minister of Agriculture and Commodities and Kota Kinabalu Member of Parliament Datuk Chan Foong Hin who launched the event said he welcomed the organization of exhibition and expos specifically targeting the domestic market in the state of Sabah because it can cater to the needs of customers in purchasing furniture and household equipment.
He expressed his appreciation for the event adding that in March there will be two more large-scale furniture exhibition expos held in Kuala Lumpur, namely the “Malaysian International Furniture Fair 2024” at the Malaysia International Trade and Exhibition Centre (MITEC) from 1 to 4 March, followed by the Export Furniture Exhibition (EFE) from 4 to 7 March at the Kuala Lumpur Convention Centre (KLCC).
“Both exhibitions are B2B oriented towards the export market where industry players from around the world, especially ASEAN countries and China, will be present for export trade purposes.”
He shared that Malaysia is actually one of the major timber exporting countries in the world for furniture and household tools manufacturing purposes.
” Currently, the timber sector is the third largest contributor to Malaysia’s Agri-commodity product exports after palm oil and rubber.”
According to him until the third quarter of 2023, the timber sector contributed 18.9% or RM11.4 billion to the Gross Domestic Product (GDP) from the total Agri-commodity sector amounting to RM60.4 billion,” he said.
“As for Malaysia’s timber export performance, up to November 2023 amounted to RM19.80 billion. The main products contributing to the value of timber exports are wooden furniture, plywood, and sawn timber with export amounts of RM8.24 billion (41.6%), RM2.27 billion (11.5%), and RM2.08 billion (10.5%) respectively. Meanwhile, the primary markets for Malaysian timber and timber products exports are the United States with an export value of RM5.12 billion (25.8%), followed by Japan and China with export values of RM2.59 billion (13.1%) and RM2.50 billion (12.6%) respectively,” he elaborated.
In Sabah, the timber industry is also one of the major contributors to the state’s economy, he said adding that the timber export value of the state of Sabah for the same period (January-November 2023) amounted to RM857.71 million, contributing 4.3% to the overall timber exports of Malaysia.
The main products exported from the state of Sabah are plywood, sawn timber, and timber logs, he stated.
“The primary markets for the timber and timber products exports of the state of Sabah are Japan with an export value of RM193.65 million (22.6%), followed by Taiwan and Korea with export values of RM176.53 million (20.6%) and RM107.30 million (12.5%) respectively.”
To ensure a continuous supply of raw materials to the timber sector, the Ministry of Agriculture and Commodities has implemented the Forest Farm Development Program (PPLH) to ensure the availability of raw materials for the downstream timber industry sustainably.
“In the 2024 Budget, the Government has allocated a budget of RM50 million for the PPLH scheme with a target production of 90,000 cubic meters (m3) of wood from PPLH as a source of raw materials in the domestic timber market to meet the shortage of the wood industry’s needs and the expected value-added of the timber industry that will be obtained from the production of 90,000 m3 is RM357 million,”he explained.
Also present during the event were Gary Wong KH Event Management Managing director and
Datuk Hajah Rosmawati Haji Lasuki Chief Executive Officer of SICC.-BNN
