MTC & team visit the Gulf's oldest sawmilling company in Ajman

Media Release
October 10, 2017

Timber trade between the Middle East and South Asian countries has steadily progressed over the past decades, and Malaysia has stood at the forefront for the majority of that period. This is on account of the sheer variety of timber species and other value added products such as plywood that is available for export from the Malay peninsula. Malaysia also possesses many highly industrialised sawmilling companies and large plywood manufacturing plants that are well equipped to cater to the growing demands for both local and international markets combined.

The Middle East and in particular the United Arab Emirates is a huge consumer of tropical hardwoods, that are shipped either in containers or break-bulk to various ports in the Gulf, namely - Jebel Ali port in Dubai, port Khalid in Sharjah, Jubail port in Saudi Arabia and Port Sultan Qaboos in Oman. The UAE virtually acts as a hub for all timber trade related activities in the Gulf region on account that a significant number of well-established timber traders are based in the UAE alone.

The Malaysian Timber Council (MTC) has a dedicated office in Dubai comprising of a dynamic team of individuals who promotes the use of Malaysian timber and other allied products to various traders and end-users in the Middle East. As part of their annual activities to stimulate growth and promote trading activity between Malaysia and the Middle East, the MTC organizes visits by various Malaysian delegations from within the Malaysian timber industry to leading private and government entities in the Middle East and North African region.

As part of this exercise the MTC organized a visit by the Timber Exporters Association of Malaysia (TEAM) to Mohiudeen Wood Works Co. LLC (MWW), the oldest sawmilling company and the largest importer of round logs and sawn timber in the Middle East. MWW hosted members from MTC and TEAM at their head office in Ajman on 02/October/2017 to discuss various topics: such as the expected demand for Malaysian timber products in the Gulf for the next five years and the most pressing matter of all that is advocating the usage of timber and allied products that are derived from sustainable sources which is a very important endeavour undertaken by Mr. B.M. Ashraf, the founder and Managing Director of MWW. Mr. Ashraf was also keen to point out, “meetings like this strengthen relationships and help pave the way forward by creating dynamic new synergies to stimulate growth and push the entire market forward.”

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News Network
March 24,2020

Mar 24: Saudi Arabia has recorded its first death from the coronavirus in a 51-year-old Afghani resident, Health Ministry spokesman Mohammed Abdelali told a televised news conference on Tuesday.

The man's health deteriorated quickly after reporting to a hospital emergency room in the city of Medina and he died on Monday night, Abdelali said.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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News Network
April 20,2020

Sharjah, Apr 20: Air Arabia announced on Monday it will operate new repatriation flights from four cities in India to Sharjah carrying UAE nationals back home.

The special flights will operate from Mumbai and Delhi to Sharjah International Airport on April 20 while special flights will operate from Kochi and Hyderabad to Sharjah International Airport on April 22.

Air Arabia remains committed to bring stranded citizens back home as well as supporting requests to operate repatriation flights and is working closely with UAE authorities in this regard, the airline said.

Air Arabia announced earlier that it’s operating a mix of repatriation flights as well as cargo flights during the month of April to multiple destinations.

Further information about the repatriation and cargo flights is available on the website or can be obtained by contacting the Air Arabia call centre on 06 5580000 or respective travel agent.

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