KUALA LUMPUR (Jan 3): In light of the slowdown in contracts awarded in the local construction scene, Malaysian contractors are expected to bid for more jobs in Singapore, according to Hong Leong Investment Bank (HLIB) Research.
"Civil infrastructure projects remain robust in Singapore," HLIB Research analyst Yip Kah Ming wrote in a note today, pointing out that foreign contracts amounted to RM148 million in the fourth quarter of 2018, mainly from piling works in the southern neighbouring country.
As such, Malaysian contractors are expected to bid for jobs there, given Singapore's geographical proximity and the continued slowdown in Malaysia's construction landscape heading into 2019.
"Contractors under our coverage that are expected to compete for jobs in Singapore are Gamuda Bhd, Kimlun Corp Bhd and Sunway Construction Group Bhd," Yip wrote.
Separately, domestic contractors are also targeting jobs in Sarawak after its chief minister placed emphasis on water and rural road projects, allocating some RM31 billion in funding from the state government for infrastructure projects, he said. — theedgemarkets.com