Cement price hike claims investigated in Malaysia

Cement price hike claims investigated in Malaysia
14 February 2020

Following claims of price hikes, Malaysia’s Domestic Trade and Consumer Affairs Ministry has investigated cement prices and found no price hikes at the manufacturing level. Its minister, Datuk Seri Saifuddin Nasution Ismail, has said the inspections were made after the Johor Master Builders Association (JMBA) alleged a cement price hike of around 20-50 per cent.

Mr Saifuddin added that following a YoY price comparison of the four main cement manufacturers from 2017 until now, there has actually been a decline in prices and costs for cement at the manufacturing level.

In response to these findings, Dr Wee Ka Siong, Ayer Hitam MP, has called on the government to explain the double-digit price rise in raw building materials if there has been no rise is cement prices.

"After checking the Producers Price Index report issued by the Statistic Department for November and December 2019, which is after reports of a rise in cement prices in October 2019, I found that the prices of raw building materials for the construction sector rose drastically for two months," said Dr Wee. The report showed raw building materials prices had risen by 5.9 per cent YoY in November and 16 per cent in the following month.

Published under Cement News