Budget 2018 expected to bring in RM350 billion
KUALA LUMPUR: Construction projects worth RM350 billion are expected to come onstream over the next two to three years with the announcement of Budget 2018.
Master Builders Association Malaysia (MBAM) President, Foo Che k Lee said outstanding projects in the construction industry are estimated to be worth at least RM 138 billion currently.
He said while Budget 2018 did not specifically mention allocations for the construction industry, the government had allocated RM2.2 billion for public housing projects such as 1 Malaysia People’ s Housing Programme (PR1MA).
“Affordable housing project sun- der Budget 2018 like PR1MA, apart from rail transportation projects such as Mass Rapid Transit Line 3 or Circle Line, among others, will definitely spur the construction industry in Malaysia and stimulate economic growth,” he told a press conference on the sidelines of the MB AM Building and Construction Conference 2017 yesterday.
Also present were Construction Industry Development Board (CIDB) chairman Tan Sri Dr Ir Ahmad Tajuddin Ali, and Eversendai Corpora ti on Bhd executive chairman and group managing director, Tan Sri AK Nathan.
Earlier, Ahmad Tajuddin in his opening speech lauded the govern- ment for stepping up measures by making it mandatory for all private projects to use industrial is ed building system( I BS) for projects valued at RM50 million or more in three years’ time.
“By declaring this new mandate in advance, industry players can prepare themselves to meet the deadline by developing or acquiring the necessary skills and resources to embrace the technology,” he said.
Ahmad Tajuddin added that the target had also been set as one of the key performance indicators under the productivity thrust of the Construction Industry Transformation Programme 2016 to 2020.
On another note, Foo in his welcoming speech hoped the government would offer incentives to industry players who use IBS and Building Information Modelling (BIM).
“We also hope that the government will support us in our efforts by providing a subsidy for companies to adopt BIM.
“I believe through everyone’ s effort, the implementation of IBScan run smoothly. With the effective implementation of IBS products, it will not only reduce the usage of building materials that are inflicting the environment, but can also lead to reducing our dependency on foreign workers,” he said.
BIM is a process of creating and managing all of the information related to a construction project and producing it in a three-dimensional model, making it possible to integrate different aspects of the design more effectively, while reducing costly mistakes and dis- crepancies.
Themed“Technology Advancement with Stakeholders Collaboration ,” the three-day conference yesterday was co- organised by MB AM and CIDB to highlight issues, challenges, as well as the latest developments in the construction industry. — Bernama