Timber to remain growth driver for Minho

SHAH ALAM: Property developer cum timber product manufacturer and exporter Minho (M) Bhd said its timber business will continue to be the growth driver for the group going forward.
"At the moment, I think property development (division) will continue to remain as a smaller subset to the group. The main focus will still be the timber sector," its executive director Ricky Yap Leong Seng told reporters after its AGM here today.
Yap said, currently its property development division contributes less than 10% to its revenue, while the rest is from its timber extraction, trading, manufacturing and services and treatment segments.
On the outlook for 2016, Yap expects the rest of the year to be challenging given the slowdown of economic activity in China, lower commodities prices and gradual tightening in monetary policy in US, which will influence the global economy outlook.