KUALA LUMPUR 28 JULY– The 21st Annual General Meeting (AGM) of the MTCC was held at its office premises today. The main aims of the AGM were twofold:
(i) to receive and adopt MTCC Annual Report 2019; and
(ii) to receive and adopt the Audited Financial Reports of MTCC for the financial year ended 31 December 2019 together with the Reports of the Trustees and Auditors.
In presenting the Annual Report, MTCC CEO Yong Teng Koon highlighted the various achievements of MTCC in 2019. He singled out the successful conduct of the 20th anniversary celebration, and the adoption of the revised Vision and Mission, and the MTCC Strategy 2020-2025 as the key highlights for the year. According to Yong, the revised Vision encapsulates MTCC’s determination to see Malaysia as “A nation that appreciates and internalises the full value and contribution of forest towards global sustainability” and the MTCC Strategy 2020-2025 as shorter-term measures toward this endeavour.
The Audited Financial Reports of MTCC for the financial year ended 31 December 2019 together with the Reports of the Trustees and Auditors was tabled by MTCC Chairman Kamaruzaman Mohamad. The Chairman reported that the accounts have been properly drawn up in accordance with the Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act 2016 so as to give a true and fair view of the financial position of the Council as of 31 December 2019.
The Chairman was pleased to highlight the overall better financial state of the MTCC in 2019 with an increase of RM6,289,881 or 7.01% in the “Total Equity and Liabilities” as compared to 2018.
The Meeting was attended by six Members, namely Malaysian Timber Industry Board (MTIB), Forest Research Institute Malaysia (FRIM), Malaysian Timber Council (MTC), Sabah Timber Industries Association (STIA), Sarawak Timber Industry Development Corporation (STIDC) and Sarawak Timber Association (STA). As a result of travel restriction imposed by the Covid-19 pandemic, it was a first for the AGM to have members participating both physically and virtually. Also, in attendance were some members of the Board of Trustees, MTCC Company Secretary and representative from the external auditor firm, Messrs Mazars.