Malaysia’s cement market has seen consumption slow in recent years due to political uncertainty and a mature residential market. Although COVID-19 stifled output in the 1H20, a new government and the largest budget in history for 2021 is providing much-needed hope for a rebound in cement demand and production.
Following growth of 4.8 and 4.3 per cent in 2018 and 2019, respectively, Malaysia’s economy is expected to have contracted by six per cent in 2020, according to the IMF. A recovery of 7.8 per cent in 2021 and six per cent the following year is predicted.
Malaysia has been hit hard by the COVID-19 pandemic and has introduced a number of strict lockdown measures since the first case was identified in February 2020. In the following month a nationwide Movement Control Order (MCO) was introduced bringing the country to a standstill, including construction sites and cement plants.
