Building Industry
Malaysian timber set to get easy access into EU
KOTA KINABALU: Malaysia is on track towards a trade deal that would see the country’s timber products getting unrestricted access into the European Union (EU) market. EU ambassador Vincent Piket said the Forest Law Enforcement Gover- nance and Trade Voluntary Part- nership Agreement (VPA) would essentially assure EU member countries that Malaysian timber products... »
Contractors allowed to revise project costs
MALACCA: A total of 1,311 contractors involved in government projects have been allowed to make variations with regard to their project costs following the recent price hike in building materials. Works Minister Datuk Mohd Zin Mohamed said his ministry had so far paid out RM44.2mil as part of the permitted variation of price (VOP)... »
Steel companies make provisions
PETALING JAYA: Local steel makers are making provisions for their inventories following the sharp decline in prices of raw materials and finished products. On Tuesday, Perwaja Holdings Bhd and Choo Bee Metal Industries Bhd announced they had provisions of RM120.2mil and RM22.3mil respectively in the third quarter for impairment in the value of their... »