Examples of Forest Management Licence Agreement in a sentence
All direct and related expenses incurred on the development of the Company’s Sustainable Forest Management Project under a Sustainable Forest Management Licence Agreement with the State Government of Sabah is stated at cost and capitalised as biological assets.
Licensee – A person or company to whom a Licence (Forest Management Licence Agreement, Timber Sale Agreement, or Timber Permit) has been granted.
On 12 April 2018, the Company and the Chief Minister of the State of Sabah had entered into a Supplemental Agreement to amend the Principle Agreement; Sustainable Forest Management Licence Agreement (“SFMLA”) dated 10 September 1997.
The submission of the entire FMP must occur at minimum 18 months before the expiry of the prior FMP and Forest Management Licence Agreement.
Sabah is the only State that appears to have included all the necessary guidelines into their licensing system for forest concessions called Sustainable Forest Management Licence Agreement (SFMLA) as the private companies are monitored and enforced against those conditions.
Harvesting licence can be in a form of Sustainable Forest Management Licence Agreement (SFMLA) or Long Term Licence Agreement (LTL) (Attachment 6), Form I Licence (Attachment 7), or Form IIB (Attachment 8) in the case of timber from alienated land.
Under the ITTO definition, the forest management unit (FMU) is defined as “A clearly defined forest area, managed to a set of explicit objectives and according to a long-term management plan.” In Peninsular Malaysia, each state constitutes one FMU while in Sabah, an area covered by a “Sustainable Forest Management Licence Agreement (SFMLA)” constitutes as one FMU.
The FMU for the state of Sabah is the area covered under the “Sustainable Forest Management Licence Agreement (SFMLA)”.
Currently, there are 32 Sustainable Forest Management Licence Agreement (SFMLA)/Long Term Li-cence Agreement (LTL) signed by the Forest Management Unit (FMU) holders, with the task of managing most of the Commercial Forest Reserves (Class II) in the state.
Sustainable Forest Management Licence Agreement, SFMLA 04/97 for the project site was signed on 10 September 1997 between the State Government of Sabah and Sapulut Forest Development Sdn Bhd (SFD).