Malaysian DPM Urges Construction Firms To Strengthen Presence Overseas

KUALA LUMPUR, Feb 16 (Bernama) -- The Malaysian construction industry should strengthen its presence overseas and not rest on its laurels, Deputy Prime Minister Muhyiddin Yassin said. He said the industry players should use their involvement in the government-introduced Entry Point Projects (EPPs) under the National Key Economic Areas (NKEA) to improve their credentials and enhance their reputation and competitiveness in the international market. "While we should be proud of what we have achieved, we should not be complacent as the world continues to move forward with new technologies, ideas and discoveries," he said in his speech at the Malaysian Construction Industry Excellence Awards (MCIEA) 2011 here Wednesday. Also present was Minister of Works, Shaziman Abu Mansor. Muhyiddin said the construction industry has the capability as it has demonstrated its resilience and competitivenes by winning projects in the global market which was traditionally dominated by players from the more advanced nations. He said the players should also adopt bold moves to venture abroad, if they had not done so. "This will elevate them from being the best in the local market to striving to become the region's best and eventually, the world's best," he said. Muhyiddin said from 2000 until 2011, the Malaysian players had secured and completed 687 overseas projects worth around RM86 billion (US$28.14 billion). He said with the implementation of the Economic Transformation Programme and 10th Malaysia Plan, the demand for construction services was expected to grow. "Therefore, the prospects for the industry is seen to be healthy as most of the EPP projects will be implemented this year. These projects also involve long-term implementation process and investment. "Thus, to ensure the smooth implementation of these projects, it is important that the current government be given the mandate again to ensure that the commitment and policies will continue for Malaysia's development," he said. Earlier, Bina Puri Holdings Bhd managing director, Tee Hock Seng, was named the International Achievement Award's winner while managing director of Ahmad Zaki Resources Bhd, Wan Zakariah Wan Muda, won the CEO of the Year Award. -- BERNAMA