For the first time, the Myanma Timber Enterprise (MTE) has published consolidated income statements detailing sales, operational costs, taxes, contributions to the state and net profit for the fiscal years 2016 to 2017, reported the International Tropical Timber Organization (ITTO).
This disclosure marks a significant initiative from MTE to ensure transparency.
From 1 April 2014 to 30th November 2020, MTE sold 1,864,921 tons of teak logs, other hardwood logs and sawnwood earning US$531 million for 414,173 tons of teak logs. In addition, MTE sold 925,074 tons of logs and sawnwood in local currency earning around US$349 million (approximately equivalent).
The income statements can be viewed here: http://www.mte.com.mm/index.php/en/activities/1386-myanma-timber-enterprise-activities.
Source: ITTO
