PUTRAJAYA, April 18 — The Cement and Concrete Association of Malaysia (C&CA) is offering one million tonnes of bulk cement at a price of RM290 per tonne under the Rahmah Cement Scheme Initiative for affordable private housing developers, compared to the market price of RM410.
Local Government Development Minister Nga Kor Ming in a statement today said the reduction of RM120 per tonne is equivalent to a 29.3 per cent incentive from cement suppliers.
He said the value of one million tonnes of cement will be converted into 20 million standard cement bags weighing 50 kilogrammes (kg) each.
“Currently, the price of a bag of cement in the market is RM22.50 per bag and it will be reduced to RM17.50 per bag, which is a decrease of 22.2 per cent per bag or the equivalent of RM5 per bag,” he said.
Prime Minister Datuk Seri Anwar Ibrahim in a press conference in conjunction with the 2023 Aidilfitri Festival today said cement prices at a reasonable rate will be offered to affordable housing developers who develop houses priced at RM300,000 and below.
Nga said the 20 million bags of cement will be supplied to affordable private housing developers in stages at prices that have been given incentives by cement manufacturers and suppliers for a maximum of four years according to the construction period of the development which is until June 30, 2028.
He said the people would benefit from a maximum house price reduction of up to RM5,000 depending on the type and price of the house.
“For example, for the original price of a house worth RM300,000 and a reduction of RM5,000 or 2.38 per cent makes the new selling price of RM295,000. This initiative will simultaneously reduce the cost of living for the people in housing financing commitments,” he said.
He said the 20 million bags of cement are sufficient for the construction of 24,000 units of affordable houses.
