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Malaysian construction firms are more optimistic about the future of the sector in 2023


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KUALA LUMPUR: According to CGS-CIMB Research, diversified contractors who took part in its 15th Annual Malaysia Corporate Day (MCD 2023) are usually more upbeat about the sector’s prospects in 2023 compared to 2022.

The corporations had high hopes that the construction industry picture would improve and employment rollout would pick up steam once the post-general elections (GE15) political overhang was lifted, according to analyst Sharizan Rosely.

“While there was little expectation that new projects would be announced, the focus in the first half (1H) of 2023 would be on two key events – the re-tabling of the Budget 2023 on February 24 and any potential changes or reviews, and the status of the RM32 billion Mass Rapid Transit 3 (Circle Line) (MRT 3) project and whether it would proceed in its current form/project structure.

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