Follow S’wak example on cement, builders urge govt, Malaysia

Follow S’wak example on cement, builders urge govt, Malaysia
Published: 02 December 2008

The Sabah Housing and Real Estate Developers’ Association (Shareda) called on the Government to review and reduce the price of cement and other construction materials.

Its President, Kong Kwok Wah, cited the case in neighbouring Sarawak where the manufacturer lowered the selling price of cement by RM5/t last month.

The call is among the four resolutions unanimously passed at the Shareda council meeting on Sunday.

Besides cement, prices of other materials such as sand, bitumen, stone and bricks need to be reviewed, pointing out that the price of steel bars was recently reduced.

In an effort to build higher qualitative property products at an affordable cost, all industries concerned should play a critical role, particularly the cement industry, said Shareda.

The resolution also urged the transportation players such as shipping to reduce their shipping fees in line with the reduction of fuel prices, pointing out that the cost of transportation to the State is among the main contributors to the recent sharp increases in materials and consumer products.

The resolution also urged all local financial institutions to support the property industry by increasing lending activities as well as allow easier access to more affordable financing packages both for bridging and end financing products.

It also wanted Bank Negara Malaysia to review the lending rates for property to stimulate domestic economic growth.