OUTLOOK AND WAY FORWARD FOR 2011
MBAM is optimistic that 2011 will be a better year for the construction industry with the launching of the 10th Malaysia Plan (10MP) & Economic Transformation Program (ETP) with many entry point projects to be launched under the 12 NKEAs. In fact, the YAB Prime Minister of Malaysia Datuk Seri Najib Tun Abdul Razak recently announced 19 entry point projects (EPPs) worth RM67 billion in investments are now part of the ETP.
In order to ensure their timely & successful implementation, we believe the following proposed changes are of relevance in order to reduce the cost & improve the ease of doing business, thus attracting the necessary investment from private sector to transform the nation to a high-income economy by 2020:
- Timely dissemination of information on projects
- Provision of assurance on good investment
- Fair and transparent bidding process for projects
STEEL PRICES ON UPWARD TREND
Rebar prices continue to climb as steelmakers are raising selling prices to reflect higher scrap costs. The current trend hovers around RM2,200 per tonne and we hope members are making provisions for higher building materials prices when bidding for projects. The Association will try its best to help stabilize building material prices for the construction industry and will continue to engage the relevant authorities and institutions in this matter.
SIGNING OF MOU WITH OPEN UNIVERSITY MALAYSIA
MBAM signed a Memorandum of Understanding with the Open University Malaysia on 4th January 2011 to collaborate and establish affiliation and cooperation in the development of competency based diploma and degree courses for the construction industry. This will create another milestone for MBAM as we charter a roadmap for the promotion of higher education in the construction industry and will assist to create a pool of qualified skilled and competent workers for the construction industry to meet the current need of shortage of skilled workers to cater for the massive roll out of projects under the 10MP and the ETP launched by the Government.
Lastly, I hope as we embrace the year 2011, we are fully prepared to meet the challenges and will energetically cast our mark effectively and successfully in the construction business in 2011 by yielding better financial results and improving business volume. May the year 2011 bring for you continued success, prosperity, good health and abundance of happiness, and for us more opportunities to work together. With that I wish all MBAM members A Happy and Prosperous New Year of the Rabbit 2011!
Kwan Foh Kwai, J.M.N.
President, MBAM