MACC's crackdown on illegal steel scrap bolsters fair trade practices: Industry body
It said the illegal outflow of steel scrap results in domestic supply shortages, driving up costs and affecting the production output of local manufacturers.
Ops Metal saw enforcement actions carried out at 19 locations, with illicit activities causing Malaysia to reportedly lose more than RM950 million in tax revenue over the past six years, averaging RM160 million each year.
MSA said such substantial losses undermine the country's fiscal stability and erode market confidence.
"Illicit exports directly undermine Malaysia's industrial decarbonisation efforts. Steel scrap is essential for low-carbon steel production, leading to substantially lower greenhouse gas emissions compared to traditional methods.
"A secure and transparent domestic scrap supply is therefore paramount for achieving Malaysia's Net Zero by 2050 commitment, aligning with the New Industrial Master Plan 2030 which identifies basic metals as a key enabler of the green economy," it added.
MSA said illicit steel scrap activities directly endanger the industry's sustainability, emphasising that this essential raw material is crucial for maintaining robust industrial operations, supporting job creation and driving sustainable national development.
It added that coordinated, multi-agency efforts involving key government enforcement and financial bodies are essential to effectively combat illicit activities.
"To ensure vital material supply for essential projects and long-term sustainability, MSA urges implementation of strategic frameworks that will enhance transparent domestic scrap circulation, facilitate circular economy integration, and ensure the continuity of low-emission steel production," it said.
The association added that such measures are crucial to support Malaysia's infrastructure growth and climate goals, as they help strengthen industrial stability, uphold environmental responsibilities and boost global competitiveness.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
an hour ago
- New Straits Times
Azam pays first courtesy visit to newly appointed IGP
KUALA LUMPUR: Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki paid a courtesy call on the newly appointed Inspector-General of Police (IGP) Datuk Seri Mohd Khalid Mohd Ismail at the Federal Police headquarters today. In a social media post on the Royal Malaysia Police official Facebook page, it was confirmed that this afternoon's visit marked Azam's first official call on Mohd Khalid following his appointment as the country's 15th IGP on June 23. "The meeting aimed to strengthen bilateral cooperation between both enforcement agencies. "Among the key areas discussed were the implementation of the Joint Action Task Force, operational information sharing, and coordinated investigations," the post read. It added that the discussion was aimed at enhancing the effectiveness of law enforcement efforts. "The visit reflects a continued commitment to inter-agency collaboration, particularly in combating corruption and ensuring justice is upheld," the post said. Mohd Khalid, who hails from Manong, Perak, was born on April 8, 1965. He holds a Master's Degree in Comparative Law from the International Islamic University Malaysia. His appointment as IGP was consented to by His Majesty the Yang di-Pertuan Agong in accordance with Clauses (4) and (5) of Article 140 of the Federal Constitution, upon the advice of the Prime Minister and the recommendation of the Police Force Commission.
Malaysiakini
2 hours ago
- Malaysiakini
Scrap metal rings: MACC freezes accounts worth RM150m
MACC has recorded the statements of 27 witnesses following operations against scrap metal and e-waste smuggling syndicates operating in five states, which are believed to have paid bribes to enforcement officers, resulting in an estimated tax revenue loss of over RM950 million to the government. According to sources, those who had their statements recorded included the male suspect said to hold a 'Datuk' title, who is also a businessperson, and believed to be involved in the activities.
Malaysiakini
3 hours ago
- Malaysiakini
Scrap metal rings: MACC freezes accounts worth RM150m
MACC has recorded the statements of 27 witnesses following operations against scrap metal and e-waste smuggling syndicates operating in five states, which are believed to have paid bribes to enforcement officers, resulting in an estimated tax revenue loss of over RM950 million to the government. According to sources, those who had their statements recorded included the male suspect said to hold a 'Datuk' title, who is also a businessperson, and believed to be involved in the activities.
