The construction industry is recording positive growth of 0.7% in 2006. (2005: -1.6%) The civil engineering sub-sector is envisaged to pick up with the roll-out of infrastructure projects under the RMK-9 and ongoing projects.
Among the RMK-9 projects are the 880 new construction projects totaling RM15 billion. In light of the limited construction opportunities and excess capacity in the domestic market, several local construction companies have ventured abroad, mainly to India and the Middle-East, where they have secured projects mainly to construct roads, highways and buildings.
Data from the Construction Industry Development Board indicated that local contractors are currently undertaking 48 projects worth RM15.3 billion in 36 countries.
- Private developers completed a total of 77,027 houses during the period, increasing the existing stock level to 3,734,280 units at end-June 2006.
- Incoming supply, that is residential units under construction, sustained at 631,790 units during the period backed by a 12% increase in housing starts of mainly condominium and terraced units.
- The Government through Syarikat Perumahan Negara Berhad (SPNB) continues to build affordable houses priced below RM70000. SPNB is currently involved in developing 16 projects at an estimated cost of RM2116 million in various locations in the country. (Source: Economic Report 2006/2007, Ministry of Finance)
According to CIDB Construction Quartetly/Statistical Bulletin, in 2006, 3450 construction contractor is registering with CIDB.
3765 in 2007 and 2189 is registered until March 2008. The graph shows the number of contractors that registered to the member is increasing.
Including in 2008, the numbers is estimated by the CIDB to increase greatly. This is a great opportunity for our company to involve in Malaysia construction industry.
Figure 3.2
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