Malaysian sawn timber levy

Malaysian sawn timber levy

KUALA LUMPUR (Reuters): Malaysia will review its export levy on sawn timber to adjust in accordance with changes to be made by Indonesia, Primary Industries Minister Lim Keng Yaik said yesterday.

"We are watching and monitoring the Indonesian policy and will adjust accordingly," he was quoted by the national Bernama news agency as saying.

Indonesia has proposed to reduce its sawn timber export levy to $250 from $500 per cubic metre.

Lim said Malaysia's review was ready but "Indonesia has not instituted that proposal yet and we are monitoring that."

"As soon as Indonesia institutes that proposal, we will introduce a paper to the Cabinet to change our export tax on sawn timber," he said.