Timber and oil palm group Ta Ann Holdings Bhd is putting on hold the construction of its maiden plywood plant in china as the current economic downturn has affected the country’s plywood market, says group managing director Datuk Wong Kuo Hea.
The group’s investment in its wholly owned China subsidiary, Ta Ann Eco-Timber Industries (YZ) Pte Ltd has amounted to about RM13.7m (US$3.9m) so far, mainly due to the cost of the factory land acquisition in Yang Zhou.
Ta Ann, however, had started to develop new plywood products for the Chinese market, Mr Wong added.
“We will focus on log exports and production of our certified and environmentally friendly eco-plywood products and boost production from oil palm estates.”
