Kayu Mas (PNG) Ltd, which has a timber concession in Papua New Guinea (PNG) and is being acquired by Takaso Resources Bhd, has projected a net profit of US$72 million over nine years, reports the Sun Daily in Kuala Lumpur.
Kayu Mas executive chairman Datuk Abdul Manaf Hamid said the projected earnings from its timber concession of up to 42,000ha in PNG was based on the pricing of logs and sawn timber from that country.