YTL Cement is reported to have obtained a 77% stake in cement manufacturer Lafarge Malaysia.
Talks with the cement industry are to be held next week, domestic trade minister Saifuddin Nasution was reported to said today, while finance minister Lim Guan Eng said he would have discussions with Saifuddin next week about the price increase. In George Town, Lim told Bernama that he had received complaints from several developers about the proposed increases, which would affect housing and road projects.
Last night, MCA president Wee Ka Siong said the Pakatan Harapan government must take responsibility if it could not halt the price rise.
The current price of cement is at historical low, with developers making the high margin with the high property prices but cement manufacturers have been bleeding. The exit of Lafarge from Malaysia is strong sign that cement manufacturers are in red & subsidising the developers!
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