KUALA LUMPUR: The construction sector's output this year looks set to surpass last year's RM93bil, fuelled by ongoing and new public sector projects.
The sector has seen a year-on-year growth of 20% for the first quarter, boding well for the entire year's prospects, said President of Master Builders Association Malaysia (MBAM), Matthew Tee.
Despite the sector unlikely to surpass the historical high of RM120bil in 2012, outlook for the next five to six years looks rosy thanks to the government projects to bolster economy and build infrastructure, he said.
The implementation of the ongoing Economic Transformation Programme, Pan Borneo Highway in Sabah and Sarawak, as well as, public transportation projects such as Light Rail Transit, Mass Rapid Transit, High-speed Rail Link between Kuala Lumpur and Singapore, are expected to translate into a healthy growth for the sector.
Tee was speaking to reporters after the launch of a Coffee Table Book by Deputy Works Minister Datuk Rosnah Abdul Rashid Shirlin to commemorate the association's 60th anniversary this year.
However, the MBAM cautioned against the possibility of the construction sector overheating.
"The Government shouldn't implement all projects at one go, but to carry them out periodically. "This will prevent the construction sector from overheating and help contain escalating raw material prices," Tee said. – Bernama