news

MBAM: 10MP success depends on quick implementation of key projects

KUALA LUMPUR: Speedy implementation of high impact projects is a key challenge to ensure the success of the 10th Malaysia Plan (10MP).

"Any delay in implementation will mean additional costs to the project," said Kwan Foh Kwai, president of the Master Builders Association Malaysia (MBAM) during his welcome address at the Third Malaysian Construction Summit 2010 on Tuesday, Nov 2.

He added that in order to reinvigorate private sector investment, a transparent procurement process must be established and projects must be awarded to companies that are competent, credible and financially sound to ensure successful implementations.

Kwan also called on the government to protect and defend the interest of the construction industry players in view of the proposed amendments to the Construction Industry Payment and Adjudication Act (CIPAA).

"The problems and interests of the construction industry must be the paramount consideration in the enactment of CIPAA," said Kwan, adding that MBAM has written a letter to Works Minister Datuk Shaziman Abu Mansor to re-examine several directives by the Attorney-General pertaining to CIPAA.

According to Shaziman who officiated the one-day summit, the ministry is awaiting response from the Attorney-General's office and he hopes to table the CIPAA amendments in Parliament by end of the year.

"We are clear about the objectives of the amendments. This is more of a technical issue," said Shaziman during the press conference.

The CIPAA amendments are meant to address payment-related issues in the construction industry and aims to ease and improve cash flow during project implementation.
Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE