{"id":11911,"date":"2007-05-15T00:00:00","date_gmt":"2007-05-15T00:00:00","guid":{"rendered":"http:\/\/localhost\/wordpress\/2007\/05\/15\/9mp-projects-boon-to-construction-industry\/"},"modified":"2007-05-15T00:00:00","modified_gmt":"2007-05-15T00:00:00","slug":"9mp-projects-boon-to-construction-industry","status":"publish","type":"post","link":"https:\/\/www.rakansarawak.com\/v3\/2007\/05\/15\/9mp-projects-boon-to-construction-industry\/","title":{"rendered":"9MP Projects Boon to Construction Industry"},"content":{"rendered":"<p><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>The construction sector is expected to turn around with a positive<br \/>\ngrowth of 0.7 percent this year, after being in the negative horizon for two<br \/>\nyears, in gradual implementation of the Ninth Malaysia Plan (9MP) projects.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>The sector registered a negative growth of 1.1 percent in the first<br \/>\nhalf, which was a slight improvement from last year\u2019s negative growth of 2.2<br \/>\npercent.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>The sector may recover on 9 MP and ongoing projects such as Kuala<br \/>\nLumpur-Putra Jaya Expressway, Duta-Ulu Kelang Expressway as well as upgrading<br \/>\nwork at the Kota Kinabalu International Airport.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Implementation of 9MP\u2019s 880 infrastructure deals worth some RM15<br \/>\nbillions will start in the fourth quarter.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>There may also be higher investment in oil and gas, communications and<br \/>\nutilities.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Some companies have also ventured abroad due to shrinking sales at home.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>They are working on 48 projects worth RM15.3 billions had already been<br \/>\ncompleted, according to Construction Industry Development Board.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Within Malaysia, demand had slowed down for residential homes, partly<br \/>\ndue to concern over further interest rate hikes.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>There were not much building activities as well because of rising costs<br \/>\nof building materials and transportation.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Still, properties at prime locations enjoyed strong growth with support<br \/>\nfrom local and foreign buyers.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>In the second quarter of 2006, the Malaysian Annual House Price Index<br \/>\nedged up 1.4 percent to RM 163,559.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Houses for the low-income group were not enough because private<br \/>\ndevelopers focused on higher margin properties.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Construction of offices dropped 16.6 percent but retail space rose 1.4<br \/>\npercent.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Eight new shopping malls were completed in the period.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Occupancy rate for offices was 84.2 percent while retail space was 80.1<br \/>\npercent.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Five new hotels were also built in the first half, bringing the total of<br \/>\nhotels in the country to 2,134.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span style=&quot;font-size: 10pt; font-family: Arial;&quot; lang=&quot;EN-GB&quot;>Despite the presence of new hotels and higher room rates since January<br \/>\n2005, average occupancy rate of three to five star hotels sustained at 58.4<br \/>\npercent, spurred by higher tourist arrivals, more international meetings,<br \/>\nconferences, exhibitions and festive activities.<o:p><\/o:p><\/span><\/p>\n<p class=&quot;MsoNormal&quot; style=&quot;text-align: justify;&quot;><span 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years<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[2],"tags":[3175],"class_list":{"0":"post-11911","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-featured","7":"tag-intipati-rmk-9"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>9MP Projects Boon to Construction Industry - RAKAN Sarawak<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rakansarawak.com\/v3\/2007\/05\/15\/9mp-projects-boon-to-construction-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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