Malayan Cement expects remainder of year to be challenging due to inflation, higher cost

• Yeoh said as Malaysia recovers from the Covid-19 pandemic, the group is encouraged by the revival of major infrastructure projects, which bodes well for the industry.

KUALA LUMPUR (Oct 31): Malayan Cement Bhd (MCB) expects the remainder of the year to be challenging, due to high inflation and increased logistical cost caused by geopolitical instability.

In his managing director's review in MCB's 2022 annual report, Datuk Seri Michael Yeoh Sock Siong said Malaysia is a relatively young nation with a high urbanisation rate, factors which will drive demand for housing and infrastructure development.

He said this is evident in the reactivation of the National Affordable Housing Council to coordinate the construction of 500,000 affordable homes under the 12th Malaysia Plan by 2025.

“Looking ahead, we will continue playing our part in the development of the nation, not only by promoting sustainable construction with our range of low-carbon products, but simultaneously extending further our products and services to meet future construction needs.

Yeoh said as Malaysia recovers from the Covid-19 pandemic, the group is encouraged by the revival of major infrastructure projects, which bodes well for the industry.

“While there are challenges on the horizon, we are quietly confident that our continued investments in upgrading our facilities put us in a strong position to support this recovery.

“We believe that MCB will continue to be the preferred choice of professionals in the Malaysian construction industry,” he said.