Comparison of Stumpage Value in Old and Young Recovered Primary Forest at FRIM Selangor Forest Park
Forest Research Institute (FRI) was a former name of Forest Research Institute Malaysia (FRIM). It had begun restoration activities back in 1920s. Nowadays, it is a paid off with a FRIM being known as a nearly 100 years old artificial forest located in the heart of the city. To date, 92% of total forested area in FRIM consisted of 85% of planted forest and 7.4% of natural forest. In order to sustain the conservation effort, the institute was declared as National Heritage in 2012 and currently in the process of pursuing the title of UNESCO World Heritage Sites. For this conservation to be translated into monetary value that reflects the richness of its natural treasure, the estimation of the stumpage value of these old and young recovered was made to highlight the importance of reforestation in degraded areas. The economic valuation of timber resources was estimated with residual value technique for four Fields that represent both types of forest. An old recovered primary forest; which located in Field 11 and 20 and a young recovered primary forest; Field 52 and 53. The results showed significant difference of stumpage value in old and young recovered forest. While the estimated stumpage value of young recovered forest is much lower, the estimated stumpage value of old recovered primary forest that aged between 72 (Field 20) to 93 years old (Field 11) is higher than the value of other Malaysia forest reserves. The findings indicated the importance of forest reforestation and proved that FRIM has a universal value as a man-made forest.