Priceworth unit apptd logging contractor in Solomon Islands

KUALA LUMPUR (Jan 4): Priceworth International Bhd's unit has been
appointed a contractor to carry out logging on Kolombangara Island, in
the western province of Solomon Islands.

Priceworth said on
Wednesday, its unit, Ligreen (SI) Ltd had sealed a logging management
and TECHNOLOGY [] agreement with Success Company Ltd to undertake the
logging at a concession site measuring 1,053 ha.

'The licensee
and contractor shall jointly market the logs harvested from the
concession area. In consideration of the logging activities to be
carried out by the contractor, the contractor'' shall receive 55% of the
declared sales contract from the licensee,' it said.

Priceworth
said the upside from the contract was that the group would have access
additional source of logs for the group's business involving the
manufacturing and sale of timber products and logs.