KUALA LUMPUR – The construction industry grew at the rate of 14.3 per cent until the middle of this year with projects worth RM69 billion carried out until September, Works Minister Datuk Seri Fadillah Yusof said.
He said 39 per cent of the projects valued at RM27 billion were non-residential projects, residential projects (33 per cent/ RM23 billion),
infrastructure projects (22 per cent/ RM15 billion), and social services (six percent/ RM4 billion).
Fadillah said the construction sector grew 10.9 per cent last year with projects valued at RM124 billion, of which 30 per cent or RM38 billion were residential projects.
The rest of the projects comprised non-residential projects accounting for 41 per cent valued at RM51 billion, infrastructure projects (21 per cent/ RM26 billion) and social services (eight per cent/ RM9 billion), he said at the signing of a memorandum of cooperation (MoC) on governance, integrity and prevention of corruption with construction industry players here, today.
Eight associations inked the MoC with the government with the Construction Industry Development Board of Malaysia (CIDB) and the Malaysian Institute of Integrity (IIM).
The associations were Master Builders Association Malaysia, Real Estate and Housing Developers’ Association Malaysia, the Association of Consulting Engineers Malaysia, the Malaysian Institute of Architects, the Institution of Engineers Malaysia, the Royal Institution of Surveyors Malaysia, the Malay Contractors Association of Malaysia, and the Malaysian Indian Contractors Association.
Works Ministry secretary-general Datuk Seri Zohari Akob signed on behalf of the government.
Minister in the Prime Minister’s Department Datuk Paul Low Seng Kuan was present.
“The ministry expects the double digit growth in the construction industry to stay until next year based on the number of projects announced in the 2015 Budget,” Fadillah said.
On the MoC, Fadillah said he and Paul Low would co-chair the Main Cooperation Committee tasked with ironing out related problems at the Cabinet level in an effort to raise the quality and integrity of the construction industry and deter corruption.
In addition, Fadillah said a Cooperation Implementation Committee would also be set up under the stewardship of CIDB chief executive officer Datuk Seri Dr Judin Abdul Karim and IIM president Datuk Dr Mohd Tap Salleh. It will meet three times a year.Â – BERNAMA