No Increase In Cement Prices Says Ministry After Checks

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There have been claims that cement prices went up between 20% and 50%.KUALA LUMPUR: The Domestic Trade and Consumer Affairs Ministry says its checks have found no truth to a claim of cement price hikes at the manufacturing level
Its minister Saifuddin Nasution Ismail said the inspections were made following complaints received from the Johor Master Builders Association (JMBA) as well as from the social media, over an alleged cement price hike of between 20% and 50%
“Responding to the complaint, the ministry’s Enforcement Division started its inspections on Feb 3, 2020, by visiting the complainants, factories and issued the Notice 21 provided under the Price Control and Anti-Profiteering Act 2011 to relevant industry players to provide the information required by the ministry
“From the response of Notice 21 on the four major cement manufacturers, it was found that there was no price increase at the cement manufacturing stage,” he said
The four main cement manufacturers are Slag Cement (Southern) Sdn Bhd, Lafarge Cement Sdn Bhd, Holcim (Malaysia) Sdn Bhd and YTL Perak Hanjoong Simen Sdn Bhd
Saifuddin said based on the year-to-year price comparison of the four manufacturers from 2017 until now, it was found that there was a decline in prices and costs for cement at the manufacturing level, adding that the ministry’s enforcement division would provide a detailed report after a thorough investigation was conducted at market level
The ministry also advised the public not to speculate or spread the news without facts or evidence
Those with information, evidence or want to assist with the investigation can contact the ministry on email [email protected] or at Tel: 1800 886 800 or 03-8882 6245/6088. - FMT

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