Analysts foresee Malaysia's construction jobs flow to pick up-Xinhua

Analysts foresee Malaysia's construction jobs flow to pick up

Source: Xinhua

Editor: huaxia

2024-04-17 18:24:16

KUALA LUMPUR, April 17 (Xinhua) -- Analysts have foreseen Malaysia's construction jobs flow to pick up amid a strong pipeline of infrastructure projects.

Kenanga Research said in its recent report that it remained positive on Malaysia's construction sector ahead of the roll-out of various mega public infrastructure projects such as Mass Rapid Transit 3 (MRT3), Bayan Lepas Light Rail Transit, large-scale flood mitigation projects as well as new Pan Borneo Highway packages.

Kenanga also opined that the private-sector construction market will stay vibrant underpinned by massive investment in new semiconductor foundries and data centers.

It also noted the semiconductor foundry and data center projects are sizeable and are typically on a fast-track basis, which means they fetch better margins.

RHB also takes comfort in the slew of private sector projects which it believes may continue to grow, particularly in the industrial space.

Citing the National Property Information Center (NAPIC), it said the new planned supply of industrial property saw an outstanding growth of nearly 200 percent year on year to reach 1,372 units in 2023, which should keep contractors busy ahead.

Foreign investments in the country should potentially bring in demand for factories and warehouses to be built, RHB said.