MAS INCORPORATED (PNG)

MAS INCORPORATED (PNG) LTD a company incorporated in the Independent State of Papua New Guinea on 19th July, 2007and wholly owned by Malaysian Bumiputra had acquired a piece of land for an agro-forestry project located in the Goilala District of Central Province, Papua New Guinea. It covers a total of 42,150 hectares of forest land and is geographically located approximately just 100 km west of Port Moresby, the National Capital of PNG. The location is within the vicinity of the Doa Rubber... estates in the east and Mariboi Rubber Plantation in the north. Besides being registered as a private limited company, MAS has also been certified by Investment Promotion Authority (IPA) as a foreign enterprise and recognized by the PNG National Forest Authority as a Forest Industry Participant under the Forestry Act 1991. The Landowners and the Clan Leaders of Baina Agro-Forest had endorsed a Logging & Marketing Agreement (LMA) dated 28th October 2008 signed between BAINA AGRO FOREST LTD (BAF) a Landowner Company (LOC) and MAS INCORPORATED (PNG) LTD (MAS). Under the LMA, MAS is given the rights to extract and market the timber resourses felled in the area. A SUB-LEASE AGREEMENT dated 12th December 2008 was also signed between Baina Agro Forest Ltd and Mas Incorporated (PNG) Ltd. whereby the Baina Agro Forestry Land was leased to MAS for 40 + 99 years. The approval to start a clear felling operation on the first designated area of 5,000 hec. was given by the Department of Agriculture & Livestock (DAL) and the PNG National Forest Authority (NFA) since 7th October 2009. The approval paved the way for MAS to apply for the Forest Clearing Authority (FCA), an overall approval from the DAL and the NFA to clear fell the forest in the designated area for agricultural development. The merchantable timber extracted from the area are allowed to be exported while the small and the super small volumes that cannot be exported can be utilized locally for downstream processing.More