To support the Malaysian Government’s efforts to provide affordable housing to the rakyat or citizens, Tasek Corporation Berhad (“Tasek”), the building materials arm of Hong Leong Asia Ltd in Malaysia, recently participated in the “Simen Rahmah” initiative. This is a collaboration between the Ministry of Local Government Development (“KPKT”) and the Cement and Concrete Association (“C&CA”) to supply one million tonnes of cement at subsidised prices for public housing projects over the next four years.
This initiative is part of Malaysia’s plan to address the rising cost of living by offering lower-priced cement to improve housing affordability. Under this initiative, participating members of C&CA, which includes Associated Pan Malaysia Cement Berhad, Cement Industries of Malaysia Berhad, Kedah Cement Sdn Bhd, Hume Cement Industries Berhad, Pahang Cement Sdn Bhd, Perak-Hanjoong Simen Sdn Bhd and Tasek Corporation Berhad, will supply the government one million tonnes of cement at subsidised prices (about 25% lower than current prices) over a four-year period, effective 1 May 2023. The ‘Simen Rahmah’ programme will be eligible to developers and contractors for the purpose of building public housing, low-cost, and affordable homes as well as community and welfare projects, endorsed and recognised by KPKT.
