< PreviousIssue #130 Volume 1 2024 16 Market Outlook 2024 28 Navigating New Horizons—A Conversation with Yang Kian Lock, Group Managing Director & Chief Executive Officer of PLYTEC 30 The China (Guangdong Yunfu) RCEP Industrial Cooperation Conference 31 Launching Ceremony—Polytechnic Transformation Roadmap (2023-2030) 32 International Construction Transformation Conference (ICTC) 2023 33 Launch of International Construction Week (ICW) 2023 34 46 th IFAWPCA Convention—Partnering in Sustainable Infrastructure 38 Opening Ceremony—Changsa International Construction Equipment Exhibition Southeast Asia Sub-Exhibition (CICEE SEA) Briefing—Program Latihan Madani (PLM) 39 MBAM Conference—CIDB Standard Form of Contract for Building Works 2022 and Mediation for Construction Disputes 40 National Industry Master Plan (NIMP) 2030: “Maju Industri, Maju Ekonomi Rakyat” One-Year Programme with the Madani Government Launch of the Bulldozer SD32 Shantui-Finbond 41 MoA Signing & Partnership Inauguration between CIDB E-Construct Services Sdn Bhd and BIMAGE Consulting (M) Sdn Bhd Product Launching of Albenestra and Albeporta (PPS-Certified) 2 nd Briefing—Program Latihan Madani (PLM) 42 MBAM New Members Introduction and Ice Breaking Session No. 1/2024 MPIA Solar Roadshow 2024 43 ASEAN Skills Mission 2024 in Malaysia Seminar—Einstein’s ‘Contribution’ to Modernising Construction Contracts in Malaysia 44 Seminar—New Technology: Transforming the Malaysian Construction Industry 45 Verification Workshop—Development of Guidelines on the Usage of Technology in CR4.0 for the Construction Industry 46 Strategic Workshop—B-Ready Framework (2nd Series): Business Location & Utility Services Engagement Session—Proposal to Make QLASSIC Mandatory for Government Building Projects Worth RM 10 Million and Above and Private Building Projects Worth RM 50 Million and Above 47 Roundtable Discussion—Minister of Higher Education and Polytechnic Industry Advisory Council (PIAC) Focus Group Discussion on the Management of Housing and Accommodation for Foreign Workers in Malaysia 48 Roundtable Session—G6 and G5 Contractors on Site Management Challenges 49 BINA Townhall Se-Malaysia Roadshow (Central Region) 50 Courtesy Visit to CIDB Chief Executive, Dato’ Sr Mohd Zaid Zakaria Meeting—Horizon Construction Overseas Sdn Bhd and MBAM 51 Meeting with the Malaysian Anti-Corruption Commission (MACC) SOCSO-ILO Validation Workshop—Draft Report on Strengthening Labour Market Policies in Malaysia 52 Roundtable Session—G7 & G6 Contractors on Digital Transformation 53 Courtesy Visit by Arai Shoji Co. Ltd. Focus Group—Critical Occupation List (COL) Discussion 2023 54 Engagement Session—HRD Corp National Training Index (NTI) Courtesy Visit by CBMI Engineering (M) Sdn Bhd Visits & Dialogues Industry & Practices Special Features Cover Feature 36444016 Market Outlook55 Courtesy Visit to the Director General of DOSH 56 Meeting with the High Commissioner of the British High Commission of Kuala Lumpur Discussion—Construction Skills Competency Training Programmes for Youth 57 Courtesy Visit by the Vice President of MCEF Meeting with IEM Courtesy Visit by Gree Air Conditioner (Vietnam) Co., Ltd. 58 MBAM Affiliate Dialogue 1/2024 60 MITI Annual Dialogue 2024 61 Meeting—Discussion on the Impact of Sales Tax on the Logistics Sector National Construction Plan 2023—Technical Working Group 5 on Internationalisation Meeting 1/2024 Meeting with the CLAB CEO 62 CIOBM Students’ Challenge 2023 Final Presentation & Prize Giving Ceremony 71 st Intake and 6th Intake (Penang) Lifting Supervisor Training 63 Training—High-Pressure Common Rail Injection (HPCRI) System Site Assessment—Site Safety Supervisor Course KL 88th Intake 64 Crest Builders 40 th Anniversary Dinner NRMCA Anniversary Dinner 47th BMDAM Dinner 65 Fellowship 5/2023 CICEE SEA Welcome Dinner MIID Annual Ball & Awards Night 2023 66 MIIP Year-End Networking Night MIP MyPLACE Award 2023 68 Perak Plumbers Association 49th Anniversary Dinner Bluescope Colorbond Night EIK Engineering Chinese New Year Appreciation Dinner 69 DJI 24th Anniversary Celebration 15 Years of Zoomlion Cranes in Malaysia 70 Inbrief 72 e-Invoicing: Is Two Months the Answer? 74 Can the Courts Order a Party to go for Mediation? 76 Matrade’s Insight – Construction Material Market in Australia 78 Matrade’s Insight – Turkish Demand for Plywood Skyrockets Amidst Earthquake Rebuilding Efforts 10 Editor’s Note 80 Industry News 12 MBAM Council Members 82 MBAM In the News 13 MBAM New Members 84 MBJ Advertising Rates 14 From the Desk of MBAM President 86 MBJ Readership Survey 87 MBAM Membership Application Form Features Regular Sections Community & Social Events CS Professional Development Contents 5356636610 MASTER BUILDERS JOURNAL #130 Master Builders Journal Call for Articles Article contributions on topics relevant to the construction industry are highly encouraged. Contact ed@mbam.org.my for more information on requirements or to submit your article proposals for publishing consideration. is published quarterly by the Master Builders Association Malaysia (MBAM) No. 2, Jalan 2/109E, Desa Business Park, 58100 Kuala Lumpur. MBJ Editorial Board PRESIDENT Oliver HC Wee, KMN, AMN EDITOR & COMMITTEE CHAIRMAN Ong Teng Cheng COMMITTEE CO-CHAIRPERSON Tan Zi Ni COMMITTEE DEPUTY CHAIRMAN Ir Au Yong Yoke Lin EXECUTIVE DIRECTOR Loh Mei Ling, AMN GENERAL MANAGER Lenny Lim Len Wei SENIOR ASSISTANT MANAGER Mohd Hanif Ismail PUBLIC RELATIONS ASSISTANT MANAGER Farah Alia Binti Zaizakrani Publishing Agency Editorial & Design: Alex Choo, Candice Cherng and Shalini Mahendran of Memo Publishing www.memopublishing.com Printer Vivar Printing Sdn Bhd Lot 25 & 27, Rawang Integrated Industrial Park, Jalan Batu Arang, Rawang, 48000 Rawang, Selangor Darul Ehsan, Malaysia. Publication Disclaimer The publication has been compiled by Master Builders Association Malaysia (MBAM) with great care and we disclaim any duty to investigate any product, process, service, design and the like, which may be described in this publication. The appearance of any information in this publication does not necessarily constitute endorsement by MBAM. There is no guarantee that the information in this publication is free from errors. MBAM does not necessarily agree with statements or opinions expressed in this publication. Copyright Master Builders Journal is the official journal of and published four issues yearly by Master Builders Association Malaysia (MBAM), and distributed by Central Paper Agencies Sdn Bhd. The Publisher retains the copyright over all materials published in the magazine. No part of this magazine may be reproduced and transmitted in any form or stored in any retrieval system of any nature without the prior written permission from the publisher. Editor’s Note A Warm Welcome to Issue 130! Dear valued readers and members, I’m thrilled to welcome you to the 130th issue of the Master Builders Journal (MBJ)! This edition promises to be a valuable resource for construction professionals, packed with insightful articles, industry updates, and expert advice. Highlights of Issue 130: — Cover Story: The cover story for MBJ issue 130 is the 2024 Market Outlook. We interviewed six industry leaders to get their thoughts on the market outlook for the Malaysian construction industry in the year ahead. — Feature Article: In this issue, we sat down with Yang Kian Lock, Group Managing Director and Chief Executive Officer of PLYTEC, to gain insight into the company’s strategy after its successful listing on the ACE Market of Bursa Malaysia. — Industry Updates: Here we take a look at the latest industry updates. — Contributed Articles: For MBJ issue 130, we have four contributed articles, namely “e-Invoicing – Is Two Months the Answer?” from KPMG in Malaysia, “Construction Material Market in Australia” and “Turkish Demand for Plywood Skyrockets Amidst Earthquake Rebuilding Efforts” from Matrade, and “Can the Courts Order a Party to Go For Mediation?” from Azman Davidson & Co. — Industry News: We are ecstatic to introduce this issue in a new section that will carry news from our members. In its debut, the section featured news from Nippon Paint and CICEE. A Word of Appreciation: On behalf of the entire editorial team, I express our sincere gratitude to our contributors, advertisers, and, of course, our dedicated members who make this publication possible. Your continued support is vital to our success. Stay Connected: Remember to visit our website at www.mbam.org.my for additional resources, member benefits, and the latest industry news. You can also follow us on social media (Facebook, LinkedIn, and our app) for updates and engaging content. We encourage you to delve into this issue and discover valuable insights, inspiring stories, and practical knowledge to elevate your construction journey. As always, your feedback is highly appreciated. Please feel free to share your thoughts and suggestions at ed@mbam.org.my or mbam17@mbam.org.my. Thank you for being a part of the Master Builders community. Sincerely, Ong Teng Cheng Editor, Master Builders Journal12 MASTER BUILDERS JOURNAL #130 MBAM Council Members June 2022 – June 2024 President Oliver HC Wee, KMN, AMN / Tim Sekata Sdn Bhd Immediate Past President Tan Sri Dato’ Sri Sufri Haji Mhd Zin, PSM, SSAP, DPTJ / Trans Resources Corporation Sdn Bhd Deputy President Kenneth Liew Kiam Woon / LFE Engineering Sdn Bhd Vice Presidents Ong Teng Cheng / IJM Corporation Berhad Dato’ Ubull Din Om, DIMP / Gamuda Berhad Richard Wong Kwan Song / Sunway Construction Sdn Bhd Eric Yong Shang Ming / Crest Builder Sdn Bhd Dato’ Sri Eric Kuan Khian Leng, SSAP / Fajarbaru Builder Sdn Bhd Secretary-General Datuk Astaman Abdul Aziz, DMSM / Norwest Holdings Sdn Bhd Treasurer-General Yeoh Keong Yuan / Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd Deputy Secretary-General 1 Tan Zi Ni / Trans Elite Group Sdn Bhd Deputy Secretary-General 2 Fong Tet Yoong / Rooframes Resources Sdn Bhd Council Members Al-Ambia Sdn Bhd / Tang Juang Yew Aneka Jaringan Sdn Bhd / Pang Tse Fui Bauer (Malaysia) Sdn Bhd / Ir Au Yong Yoke Lin Bina Puri Sdn Bhd / Png Choon Yam Chong Lek Engineering Works Sdn Bhd / Ivan Chong Fu Seong MMC Corporation Berhad / Shafidz Iswandi Bin Azhar Mudajaya Corporation Berhad / Alvin Chew Chee Wai Pertama Crane & Engineering Sdn Bhd / Alec Chong Sun Park Satujaya Sdn Bhd / Michael Yap Kok Wai Setia Precast Sdn Bhd / Lee Chee Wai Sime Darby Industrial Sdn Bhd / Liew Thiam Huat Sugu Construction Sdn Bhd / Dato’ Sri Sukumar Subrayalu, SSAP TCS Construction Sdn Bhd / Dato’ Ir Tee Chai Seng, DIMP VSL Engineers (M) Sdn Bhd / Nalla Sundran WCT Berhad / Ong Ka Thiam, AMN Glocomp Systems (M) Sdn Bhd / Alex Liew Yoon Kit V-Cool Engineering (KL) Sdn Bhd / Dato’ Lim Chee Tong, DIMP, DSPN Gabungan Persatuan-Persatuan Pembina Malaysia (UMCA) / Sinn Fuh Ming Sabah Builders Association / Choo Wei Tak The Chartered Institute of Building Malaysia (CIOB) / Ts Ho Chee Leong Honorary Members HONORARY LIFE PRESIDENTS Datuk Lai Foot Kong, PJN, JSM Lai Moo Chan, JMN, KMN HONORARY BUILDERS Lau Mun Cheong, JMN, KMN Tan Sri Datuk Tee Hock Seng, PSM, PGDK, ASDK, JP Dato’ Ir Tan Kia Loke, DSNS, JMN, AMN, AMT, PJK HONORARY ADVISORS Dato’ Ng Kee Leen, DIMP, KMN Datuk Matthew Tee Kai Woon, DPSM Foo Chek Lee, JMW HONORARY ADVISOR (LEGAL) John Tong, AMN HONORARY ADVISOR (EDUCATION) Chua Siow Leng, KMN HONORARY ADVISOR (TAXATION) Yee Wing Peng Affiliate Members 1. American Concrete Institute Malaysia Chapter 2. Building Materials Distributors Association of Malaysia 3. Gabungan Persatuan-Persatuan Pembina Malaysia 4. Institut Binabangunan Berkanun Malaysia (The Chartered Institute of Building Malaysia) (CIOB) 5. Kelab Sosial Lighthouse Kuala Lumpur (The Lighthouse Club Kuala Lumpur) 6. Malacca Builders Association 7. Malaysia Glass Association 8. Malaysia Mobile Crane Owners Association (1987) 9. Malaysia Quarries Association 10. Malaysian Occupational Scaffolding Association (MOSA) 11. Malaysian Photovoltaic Industry Association 12. Master Plumber Association Malaysia (Persatuan Master Plumber Malaysia) 13. National Ready-Mixed Concrete Association Of Malaysia 14. Penang Master Builders 15. Perak Contractor’s Association 16. Perak Plumber’s Association 17. Persatuan Ampunya Jentera Pembinaan Berat Malaysia 18. Persatuan Industri Fasad Malaysia 19. Persatuan Industri Komputer dan Multimedia Malaysia (PIKOM) 20. Persatuan Kilang Batu-Bata Malaysia 21. Persatuan Kontraktor Bumiputera Malaysia 22. Persatuan Kontraktor India Malaysia 23. Persatuan Mesin Angkat & Kren Menara Malaysia 24. Persatuan Pembina Johor (The Johore Master Builders Association) 25. Persatuan Pembinaan Kelantan (Kin Cho Hong) 26. Persatuan Pembinaan Terengganu (Kin Cho Hong Builders’ Guild Terengganu) 27. Persatuan Pemborong-Pemborong dan Pembekal-Pembekal Barang-Barang Bangunan Kedah 28. Persatuan Rakan-Industri Rekabentuk Dalaman Malaysia (Malaysian Interior Industry Partners) (MIIP) 29. Persatuan Tinsmith Wilayah Persekutuan dan Selangor (Federal Territory And Selangor Tinsmith Association) 30. Port Dickson Builders’ Association 31. Sabah Builders Association 32. Safety Glass Processors Association of Malaysia (SGPAM) 33. Sarawak Master Builders Federation (SMDF) 34. Sarawak Sibu Division Building & Civil Engineering Contractors Association 35. Segamat Builders Association (1973) 36. Selangor and Federal Territory Builders Association 37. Selangor and Federal Territory of Kuala Lumpur Kin Cho Hong 38. The Electrical and Electronics Association of Malaysia (TEEAM) 39. The Malaysian Lift and Escalator Association (MALEA)13 MASTER BUILDERS JOURNAL #130 MBAM New Members New Members as at January 2024 About MBAM The Master Builders Association Malaysia (MBAM) plays an important role in the development and advancement of the construction industry. For the past few decades, we have represented Malaysia’s construction industry as its voice during various key phases. Dedicated towards promoting and developing the construction industry in Malaysia, MBAM has evolved into a cohesive umbrella organisation. We have earned international recognition through our affiliations with the International Federation of Asian and Western Pacific Contractors’ Associations (IFAWPCA) and the ASEAN Constructors Federation (ACF). We have also successfully hosted the 20 th , 29 th and 44 th IFAWPCA Conventions in 1983, 1998 and 2018 respectively. Through the memberships in IFAWPCA and ACF, the MBAM members are part of the international construction fraternity. MBAM is also a member of The Building Industry Presidents’ Council (BIPC), where members comprise of Presidents from Pertubuhan Akitek Malaysia (PAM), The Institution of Engineers Malaysia (IEM), Association of Consulting Engineers Malaysia (ACEM), Real Estate and Housing Developers’ Association (REHDA), Malaysian Institute of Planners (MIP) and Royal Institution of Surveyors Malaysia (RISM). The formation of BIPC is a quantum leap in terms of cooperation among the industry players in the country to look into the interest of the construction industry from a wide spectrum of trades. MBAM members are also from entities that are directly and indirectly linked to the construction industry. This includes specialist sub-contractors, building material suppliers, manufacturers and trading companies. With both local and international presence, MBAM is well poised to effectively represent the Malaysian construction industry as a single, unifying voice to the relevant government authorities as well as various organisations and bodies. Ordinary Members 1. APG Geotechnics Sdn Bhd 2. Jebsen & Jessen Malaysia Sdn Bhd 3. Lee Swee Construction & Trading Sdn Bhd Affiliate Member 1. Persatuan Kontraktor Bumiputera Malaysia Associate Members 1. Jurihan Sdn Bhd 2. Kilstant Sdn Bhd 3. L & T Machinery Enterprise Sdn Bhd 4. Risen Creative Solution Sdn Bhd 5. UMR Solutions Sdn Bhd Graduate Alumni Members 1. Beh Shiuan Ping 2. Chia Zhi Horng 3. Khor Fuu Pin (Lifetime) 4. Kyiirthana A/P Seliyan 5. Low Yan Yong 6. Mohamad Azam Najmi Bin Adnan (Lifetime) 7. Ooi Shi Qing 8. Ong Wee Yeak (Lifetime) 9. Pang Jiang Han 10. Yap Li Jun (Lifetime)14 MASTER BUILDERS JOURNAL #130 From the Desk of Oliver HC Wee MBAM President “ ” MBAM is pleased that the government is committed to bolstering infrastructure development to improve transportation amenities, upgrade flood management, and boost interconnectivity within the country and beyond Membership in the Master Builders Association Malaysia (MBAM) serves as the cornerstone for industry collaboration and advancement. With the inclusion of Persatuan Kontraktor Bumiputera Malaysia (PKBM) as an MBAM Affiliate Member in our esteemed collective, our voice resounds with amplified strength across the construction domain, as now we have an outreach of 20,655 members and a total of 39 affiliate associations. This membership by construction and trade associations signifies more than mere membership; it embodies a crescendo of unity, diversity, and heightened influence. As PKBM joins our ranks, we infuse a rich tapestry of ideas, varied perspectives, and diverse experiences, fortifying our capacity to advocate not solely for our individual entities but for the entire industry with a louder voice. Together, we stand poised at the helm of construction’s future, our unified resonance echoing progress, inclusivity, and pioneering innovation through our construction endeavour. MBAM is pleased that the government is committed to bolstering infrastructure development to improve transportation amenities, upgrade flood management, and boost interconnectivity within the country and beyond. All systems are set to go barring external factors that are beyond the country’s control, such as the Ukraine war, the Israel and Hamas conflict, and the rising US-China tensions that may result in supply chain disruption. With the benefits of hindsight, we are aware that the construction sector remains susceptible to diverse factors, including shifts in government policies, economic fluctuations, and global events. We have to remain vigilant about evolving developments, policy changes, and economic trends, and topping the list of pressing concerns is the stability of material and machinery prices. I extend my heartfelt appreciation to every member of MBAM for their invaluable contributions, commitment, and resilience throughout 2023. 2023 is a post-Covid recovery year, and I am glad that MBAM has sailed through on an even keel, even though there were headwinds from the many challenges it faced. Your passion and dedication have been pivotal in shaping our industry’s narrative and driving positive change. As we prepare to welcome a new year filled with aspirations and prospects, let us continue to stand united, drawing upon our collective wisdom and innovation to propel the construction industry to greater heights. I am also pleased to announce that we will be celebrating our 70th anniversary in 2024, and we hope you will support and join us in the activities planned for 2024. Yours sincerely, Oliver HC Wee KMN, AMN MBAM PresidentAt IJM, our projects have not only shaped the nation's landscape but have also laid the foundations for thriving cities and communities. Our efforts in developing sustainable townships and enhancing connectivity place us at the forefront of Malaysia's construction, property and infrastructure sectors. Our portfolio spans from constructing buildings that rede ne city skylines to building homes where families thrive. Beyond that, we are pivotal in creating essential infrastructure—highways, bridges, and rail systems—that connects communities. Our partnership with stakeholders underscores our role as industry leaders, dedicated to sustainability, excellence and innovation. We remain committed to setting standards and being at the forefront of this rapidly evolving world, responsibly; delivering solutions that promise a brighter, more inspired future. Building inspired citiesMarket Outlook 2024 As the Malaysian construction industry continues to recover, stakeholders find themselves at the intersection of innovation and resilience for continued growth. MBJ talks to 7 key industry leaders to get their views on what the year will have in store for the industry. Oliver HC Wee MBAM President / Tim Sekata Sdn Bhd What are the key economic trends that you believe will shape the 2024 market outlook? I believe several key economic trends will shape the 2024 market outlook. The continued global recovery post- pandemic and increasing infrastructure investments are positive opportunities. However, we must also acknowledge the war in Ukraine; the unresolved Israel and Hamas conflict, which may extend to the Middle East; and the China and US tensions that may result in supply chain disruption. How do you see the ongoing supply chain disruptions and inflationary pressures impacting the Malaysian construction industry in 2024? Regarding ongoing supply chain disruptions and inflationary pressures, these challenges are expected to impact the Malaysian construction industry in 2024 by potentially delaying projects and escalating costs. Our commitment is through the contractual period, but with no price fluctuation provision in most private contracts, it is risky for a contractor to make such a contractual requirement. Contractors are not able to absorb such cost increases, which are additional liabilities. We hope that price fluctuation clauses can be included in private contracts so as to balance risk and reward and, more importantly, to prevent project abandonment. What technological advancements do you see having a significant impact on the Malaysian construction industry in 2024? In terms of technological advancements, innovations like Building Information COVER FEATURE 16 MASTER BUILDERS JOURNAL #130 16 MASTER BUILDERS JOURNAL #130COVER FEATURE What advice would you give to businesses and entrepreneurs operating in your industry as they prepare for 2024? My suggestion to businesses and entrepreneurs preparing for 2024 is to invest in technology, upskill their workforce, stay adaptable to regulatory changes, and foster collaborative contractual practices. By embracing the above, we can make our industry more sustainable. In addition, I do hope businesses and entrepreneurs do reach out to us and join us as members so that we can work together as an industry to move forward together, especially when 2024 is our 70 th anniversary celebration. In this regard, I would like to thank the past presidents and council members of MBAM who have contributed their time and resources to the association. Kenneth Liew Kiam Woon MBAM Deputy President / LFE Engineering Sdn Bhd What are the key economic trends that you believe will shape the 2024 market outlook? We are probably going to experience a global growth slowdown. So, expect a softer year, with higher interest rates dampening consumer spending and investment. This means cautious optimism, focusing on resilience and adaptability. There will also be lingering inflation. While easing, inflationary pressures may persist, affecting input costs and project budgeting. Efficient material sourcing and cost-control measures will be crucial. Geopolitical uncertainties will continue. Global tensions and disruptions can impact supply chains and commodity prices. As such, stay informed and agile to respond to unforeseen challenges. How do you see the ongoing supply chain disruptions and inflationary pressures impacting the Malaysian construction industry in 2024? Disruptions will still be present in 2024. So, expect ongoing challenges in procuring building materials and equipment, potentially driving up costs. For a commodity like copper, its price skyrocketed when demand exceeded supply. Proactive supplier partnerships and diversifying sourcing channels will be key. This will have an impact on projects. Delayed deliveries and higher costs could pose risks to project timelines and profitability. Careful planning, cost transparency, and open communication with clients will be vital. However, there will be opportunities amidst the challenges. 2024 will be the year to explore innovative construction techniques and materials that use local resources to lessen dependence on global supply chains. What technological advancements do you see having a significant impact on the Malaysian construction industry in 2024? Three things: building information modelling (BIM), construction robotics, and digital twin technology. More widespread adoption of BIM for virtual design and construction management will improve efficiency, avoid service clashes, reduce waste, and enhance collaboration. Automation using robots for repetitive tasks like bricklaying, plastering, or welding can boost productivity and address labour shortages. And finally, real-time data monitoring and analysis of assets through digital twins can optimise building performance and maintenance. How will the ongoing digital transformation reshape the Malaysian construction industry’s competitive landscape in 2024? Ongoing digital transformation will reshape the Malaysian construction industry through enhanced Modelling (BIM), drones, the Internet of Things (IoT), and advanced project management software are poised to significantly impact the Malaysian construction industry in 2024, enhancing efficiency and project delivery. What is more important is that stakeholders must commit to making the changes for any significant impact, and for our construction industry to stay relevant. Without the strong commitment from stakeholders, nothing significant will be achieved, especially on IBS. How will the ongoing digital transformation reshape the Malaysian construction industry’s competitive landscape in 2024? The reality is that not much visible change is seen yet, and transformation is still slow, especially with works on site. Many are still using conventional methods of construction. The adoption of IBS and the use of composite structures still need more encouraging factors. Moreover, the mindset definitely needs to change, and many smaller players need help starting their digital journey. MBAM is glad to assist by finding some well-known technology leaders to help jumpstart the digital transformation of our members. What are the key opportunities and challenges that you see for your industry in 2024? Opportunities in 2024 include collaborative practices in contracts and acknowledging disputes early so that the challenges can be addressed and the projects can go on as per the contract timeline. The current industry practices need to be reviewed, as a contractor is always in a very helpless position from the beginning. He has to guarantee performance to everyone, including subcontractors, suppliers and even the Inland Revenue Board (IRB). However, sad to say, no one is guaranteeing his payment. In times of dispute, the chances of the contractor recovering his money are uncertain and always very long. This demonstrates the contractor’s high risk and shows that it is not sustainable. The reality is that collaborative contracting is the right way to move forward. 17 MASTER BUILDERS JOURNAL #130Next >