Rising prices ‘can derail 9MP jobs’

PETALING JAYA: Projects under the Ninth Malaysia Plan will be delayed if the Government does not act immediately to stem the soaring prices of steel bars and cement, contractors and developers warned. This warning came in a joint statement by the Master Builders Association, Real Estate Housing Developers Association, Malay Contractors Association and Indian Contractors Association yesterday. “We would like to caution that many contractors might be forced to stop or delay work or even abandon projects as a result of the steep hike in prices of essential building materials,” the statement said. “The industry can no longer afford to wait and see. If nothing is done, what has taken many decades to grow will crash and it will take a lot of resources to help it recover. The Government must intervene now.” The statement said that... [read full story]