Barama has new CEO • not interested in DTL or oil exploration

Barama has new CEO • not interested in DTL or oil exploration
Kaieteur News, 15 September 2007

Barama , one of Guyana 's foremost plywood companies, says it is not
interested in buying Demerara Timbers Limited. And the company is
serious about revamping its image.

The disclosures were made during a media introduction of Peter Ho, the
company's new Chief Executive Officer.

According to Barama, Ho has more than 25 years of global experience in
the oil and gas industry and has served as General Manager at Maxis
Communications, the largest mobile company in Malaysia .

Stressing that Barama is a good corporate citizen, Ho explained that
while the company has always had a CEO, Yaw Chee Ming, that official
was based in Malaysia and would only visit Guyana when the necessity
arose.

However, with Barama's importance, the need was realised for a CEO who
will be on location to make swift executive decisions.

In addition to his work with the Royal Dutch Shell Group, Ho was more
recently General Manager at Maxis Communications, the largest mobile
telecommunications company in Malaysia .

According to Yaw Chee Ming, Ho “will play a key role in the
comprehensive strategic review that is now underway of the company's
portfolio and of its corporate and capital structure. In addition,
Peter will work closely with Girwar Lalaram, Chairman of Barama, to
take this company to greater heights.”

Lalaram said that an audit by the World Wildlife Fund is expected in
October. It will be recalled that earlier this year Barama, owned by
Samling of Malaysia, had its Forest Stewardship Council's (FSC)
certificate suspended after a review of activities in parts of its huge
4.1M acres North West concessions.

The World Wildlife Fund, a watchdog body, in a statement had called for
Barama and Samling to make a “high level commitment to responsible
forestry”.

Barama had lost some overseas market due to pressure being exerted by
WWF. The audit will determine if Barama is complying.

Ho denied that Barama will be exploring oil although his background
would suggest that Barama would entertain a possibility. With some 15
years in existence in Guyana , Barama would remain with its core timber
exports and plywood manufacturing.

Lalaram added that Barama sales are looking strong with more than
US$200,000 weekly sales in Guyana alone.

Alluding to contributions made to Guyana , the Chairman said that
Barama had placed a lot of money in the pockets of businessmen by
purchasing baramalli, a wood that was not much in use before Barama
came. This wood came to prominence when the plywood industry kicked
off. It was found to be best suited for the production of plywood.

Barama first established its presence in Guyana in 1991 when it was
granted a natural forest concession for approximately 1.6 million
hectares in the North West region of Guyana , monitored by the Guyana
Forestry Commission.

In 1993, Barama established a plywood operation to add value to its
forest resources, and a sawmill operation in 1996.