KUALA LUMPUR (Feb 12): Cahya Mata Sarawak Bhd (CMS) said its wholly-owned subsidiary, CMS Cement Industries Sdn Bhd, will raise its price of cement by an average of 10% subject to product types and location. The price revision effective Thursday (Feb 17) is due to significant and sustained rising cost of raw and packaging materials and freight charges, CMS said in a statement. Noting that cement production cost has increased by an average of 9% over the past year, CMS expects the upward trend to continue in view of the current macro-environment. “As a further comparison, the prices of other building materials such as steel have also surged across the board since January 2021. “The Building Materials Cost Index (BCI) has increased by 2.3% in Peninsular Malaysia, while the BCI saw increases of 2.1% and 1.5% in Sabah and Sarawak respectively during this period,” it said.
