The Master Builders Association Malaysia (MBAM) expects raw material prices for the construction industry to increase this year but still at a manageable level.
Its president Kwan Foh Kwai said the association expected the increase to be less than 10%.
If raw material prices were to increase by more than 10%, than the industry players would look at alternative sources, he told reporters after the signing of a memorandum of understanding (MoU) between MBAM and Open University Malaysia here yesterday.
“Raw material prices have always been subject to market forces. There will be increase (in prices) but within a reasonable percentage,” he said.
On the 2011 outlook for the industry, Kwan said the MBAM was optimistic the year would be good for the industry, backed by the implementation of projects under the 10th Malaysia Plan and the Economic Transformation Programme.
On the MoU, he said both parties would work together to come up with educational and training programmes for the construction industry