Real Estate and Housing Developers Association Malaysia president Ng Seing Liong concurred that the government must allow contractors and builders to import steel from Thailand, China and the Philippines, which were 10% to 15% cheaper than domestic steel. He claimed that despite the recent 12% hike in the price-controlled items, builders and contractors still needed to pay RM250 to RM300 above the new control price for steel bars at RM2,400 to RM2,500 per tonne, given the shortage.
(19-1-2008 The Star)
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