Penang Master Builders: RM200b projects likely this year

Keeping score: The Construction Industry Development Board reported 2,179 jobs worth RM58.6bil given out in the first six months this year.

GEORGE TOWN: The value of construction jobs to be given out in the country this year is expected to hit RM200bil, creating over 7,000 jobs compared to 6,885 with a value of RM135bil in 2015.

Penang Master Builders and Building Materials Dealers’ Association (PMBBMDA) immediate past president Datuk Lim Kai Seng said the association is optimistic that the RM200bil target will be achieved.

Earlier, Lim had projected the value to be about RM150bil.

“According to the Construction Industry Development Board (CIDB) report, the first six months of 2016 saw 2,179 jobs with a value of RM58.6bil being given out, compared to 2,183 jobs valued at RM38.6bil in 2015.

“Of the 2,179 jobs, 474 jobs with a value of RM8.6bil came from the government sector, while the remaining 1,705 were private jobs valued at around RM51bil.

“In the second half, we expect new job opportunities from mega-infrastructure schemes like the light rail transit, mass rapid transit, West Coast Expressway, Central Spine Road linking Kuala Krai in Kelantan and Simpang Pelangai in Pahang, and the Pan-Borneo Highway in Sabah, which will raise the value of jobs to RM200bil,” Lim added.

For Penang, Lim said construction jobs given for the January-June 2016 period shrunk to RM1.7bil from RM2.7bil in the same period of 2015.

“There were a total of 168 jobs tendered out in Penang, according to the CIDB report, of which 32 were Government jobs worth RM600mil, and 136 private jobs worth more than RM1bil,” Lim said.

Lim said the Penang jobs should be worth RM6bil, compared with RM7.5bil a year ago.

“The number of jobs to be given out this year should increase to about 600 from 501 in 2015. The value of contracts given out this year would not be higher than in 2015 because most of the housing construction jobs to be tendered out in Penang are in the affordable category with a lower gross development value (GDV).

“A lower GDV project means the value of jobs to be contracted would also not be high, as the value of construction is 40% of the GDV,” Lim added.

PMBBMDA, which has about 150 members, is affiliated with the Master Builders Association Malaysia.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , penang


Did you find this article insightful?


Next In Business News

Construction drives SCIB’s 3Q strong financial results
Ringgit pauses after Budget 2021 rally
AmInvest Research retains Buy on IHH with FV of RM6.25
Genting, GentingM, Public Bank weigh on KLCI
Kenanga raises earnings outlook on Hap Seng Plantations
Genting Malaysia price rebound unlikely to continue in 4Q
Expanding seafood and fisheries business opportunities with BISFE
Trading ideas: Genting, Kerjaya Prospek, Press Metal, TH Plant
Asiawater 2020 goes virtual
Trump says coronavirus vaccine deliveries to begin next week

Stories You'll Enjoy