KUALA LUMPUR: The construction industry is expected to grow by about five per cent by end-2019, compared with last year’s growth of 4.2 per cent, said Construction Industry Development Board (CIDB) chief executive officer Datuk Ir Ahmad Asri Abdul Hamid.
He said the trend would continue until the first half of next year, given the current wait and see approach adopted by both local and foreign investors.
“However, the momentum is expected to pick up by the second half of 2020 as the government has already approved certain projects. So, I am positive on its outlook,“ he said at the Malaysian Construction Industry Excellence Awards (MCIEA) press conference here today.
Organised by CIDB since 2000, MCIEA recognises individuals, consultants, organisations and projects that have contributed and demonstrated excellence in enhancing the image and performance of the construction industry.
“For the Malaysian construction industry to move forward as a whole, industry players must make the shift to adopt best practices.
“Therefore, CIDB is taking a step further to encourage a holistic construction approach that will provide the impetus for Malaysian construction companies to significantly elevate their position on the domestic front, as well as gaining prominence as leaders at the international platform,“ he added.
Meanwhile, Ahmad Asri said only five categories of award for MCIEA 2019, compared with nine previously as the judging criteria had been revised to reflect a more holistic approach to encourage industry players to continue raising the standard of the country’s construction, in line with the ultimate goal of the Construction Industry Transformation Programme 2016-2020.