13/05/2025

BIZ & FINANCE TUESDAY | MAY 13, 2025

15

Construction sector grows 16.6% in work done value

Perodua assures high safety standards in EV development SERDANG: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) has emphasised that high safety standards are its top priority in the development of its first electric vehicle (EV). Its president and CEO, Datuk Seri Zainal Abidin Ahmad, said Perodua is committed to ensuring that the EV, which is expected to be introduced by the end of this year, complies with strict safety standards to prevent any untoward incidents. He added that the “safety first” concept is being applied comprehensively at every level of Perodua’s product development, covering vehicle safety, factory operations, and worker safety. “We hope our car that will be released later will meet certain safety standards that we have selected and defined,” he told reporters after attending the launch of the Voluntary Next Generation Vehicle (NxGV) Labelling Scheme here yesterday. He was commenting on a recent incident involving an international EV brand that reportedly came to a sudden stop on the highway. Previously, local media reported that a family experienced a frightening moment when the electric vehicle they were in suddenly braked while being driven in the fast lane of the Cheras-Kajang Highway on May 1. On May 8, Zainal Abidin said Perodua aims to finalise production of its first EV by October, with plans to market it by the end of the year. He said in the initial phase, the vehicle will have over 30% local content and will be assembled at its new plant in Rawang, Selangor, with a price tag under RM80,000. – Bernama Unit price index of sand increases in April PUTRAJAYA: The monthly comparison recorded an increase in the unit price index of sand between 0.1% to 3.8% for almost all areas in Peninsular Malaysia, Sabah and Sarawak in April 2025 as compared to the previous month. This was disclosed in the Department of Statistics Malaysia (DoSM) special release for building and structural works, April 2025. Chief Statistician Malaysia Datuk Sri Dr Mohd Uzir Mahidin said the highest increase was recorded in Pahang (3.8%), followed by Perak (2.9%), Johor and Kuching (1.6%), respectively. He also said that the unit price index of steel showed a decline between negative 0.1% to negative 3.4% in April 2025 as compared to the previous month. The highest decrease was recorded in Penang, Kedah & Perlis and Kota Kinabalu (-3.4%) respectively, followed by Pahang (-0.8%) and Kuching (-0.6%). The unit price index of steel and metal sections also registered a slight decrease between negative 0.1% to negative 2.6% for almost all areas in Peninsular Malaysia, Sabah and Sarawak in April 2025 as compared to the previous month. The highest decrease of this material was recorded in Perak (-2.6%).

o Performance driven by continued expansion in special trade activities and residential buildings sub-sectors

PUTRAJAYA: The construction sector in the first quarter of 2025 recorded a growth in the value of work done of 16.6% with a value of RM42.9 billion, said Chief Statistician Malaysia Datuk Sri Dr Mohd Uzir Mahidin. “The value of work done in the construction sector continued its upward trend in the first quarter of 2025, recording a moderate increase of 16.6% (Q4 2024: 23.1%). “The performance was mainly driven by continued expansion in the special trade activities and residential buildings sub-sectors, which posted double digit growth of 35.5% and 27.0%, respectively. “The non-residential buildings sub-sector also showed an increase of 21.0%,” he added. Meanwhile, he said the civil engineering sub-sector remained positive with marginal growth of 3.7%. “Of the RM42.9 billion in work done value recorded in the first quarter of 2025, RM15.7 billion or 36.6% was attributed to the civil engineering sub-sector, primarily driven by the construction of roads and railways (RM7.9 billion) and utility projects (RM6.0 billion). “Meanwhile, the value of work done for non-residential buildings and residential buildings was RM12.3 billion (share: 28.8%) and RM9.9 billion (share: 23.0%), respectively. Its president, Dr Norlaili Alias, said the agreements include collaboration in product supply, development of co-branding, exclusive distribution for the Malaysian and Southeast Asian markets, as well as collaboration to import products from Iran, such as health technology, herbal/organic products, and health foods. “Our mission to Iran Expo 2025 has yielded very encouraging results with joint explorations with countries such as Russia, Turkiye and Kenya. “Wawanasita successfully made connections with Iranian investors and entrepreneurs specifically. “This outcome has opened doors for strategic collaborations with local companies that have expertise in various fields such as high-tech medicine, mineral resources, nuts like almonds and walnuts, herbs for health, natural cosmetics, and food based on organic materials,” she told Bernama. In addition to successfully

“The special trade activities contributed RM5.0 billion (share: 11.6%), largely in site preparation (RM1.3 billion); electrical installation (RM1.2 billion); and plumbing, heat and air-conditioning installation (RM1.1 billion) activities,” said Mohd Uzir. On the construction sector by the project owner, he said the private sector remained the main impetus to the growth in this quarter, with an increase of 23.7% (Q4 2023: 32.9%) propelled by special trade activities (40.9%) and residential buildings (26.5%). “The value of work done by the private sector amounted to RM27.0 billion or 62.9% of the total construction work done value. In contrast, the public sector contributed RM15.9 billion or 37.1% of total work done, with a growth of 6.3% (Q4 2024: 8.8%). The growth was fuelled by residential buildings (34.8%) and special trade activities (24.5%) sub sectors, totalling RM0.7 billion and RM1.5 billion, respectively.” Construction sector by state showed nearly 63.4% of the work done value in the first quarter of 2025 was concentrated in Selangor, Johor, Wilayah Persekutuan (Kuala Lumpur, Putrajaya and Labuan) and Sarawak. The construction work done value in Selangor amounted to RM11.1 billion or 25.9%, attributed ““Trade visits like this provide an opportunity and exposure to all our members domestically, in imports, maturity, and also for young people to venture into international business development. “This is one of the high-impact achievements in gaining new knowledge from this trade mission to Iran,” she said. Meanwhile, Iran-based Qazvin Detergent Export Consortium executive director Dr Navid Akhavan expressed hope that Malaysia could serve as a hub for exporting its detergent products across Southeast Asia. “From our discussions with Malaysian importers, we see great potential for Malaysia to become our regional export hub for detergent products due to its strategic location and strong demand from the local market,” he said. Currently, the consortium exports its products to Afghanistan and Iraq

residential building sub-sector (RM3.6 billion). The work done value in Wilayah Persekutuan was RM4.5 billion (10.6%) while Sarawak recorded RM3.9 billion (9.0%).

to civil engineering (RM4.3 billion) and residential buildings (RM2.9 billion) sub-sectors. Meanwhile, Johor ranked second with a value of RM7.7 billion or 18.0%, mainly bolstered by the non

Wawasanita eyes opportunity to export halal food to Iran KUALA LUMPUR: The Women Entrepreneurs Association of Malaysia (Wawasanita) recently signed 11 Letters of Intent (LoIs) with companies in various industries from Iran during the seventh Exhibition of Export Potential of Iran (Iran Expo 2025). establishing business relationships, Norlaili said joint venture for technology transfer as well as expertise exchange between the two countries in various industries was also discussed at the highest levels of their respective companies. for markets outside Iran, and there is an need for Qazvin to expand its reach into the international market. Iranian products have their own niche in the local market. “Small and medium enterprises (SMEs) in Malaysia are now more open to distributing niche and premium products. “High-potential categories

“We are also very grateful to the organisers of the Iran Expo 2025 for hosting such an event that helps exporters like us access international markets and grow our business,” he said, adding that seven local detergent companies from Qazvin province are currently registered under the consortium. Iran Expo 2025, held from April 28 - May 2, 2025, is the country’s largest annual trade event. It offers participants exceptional opportunities to connect with global markets. The event attracted more than 2,500 traders, economic leaders, and chamber of commerce heads from more than 100 countries. It is a collaborative effort between the Ministry of Industry, Mine and Trade and Foreign Affairs Ministry, along with the Trade Development Organisation of Iran and other governmental and private institutions. Norlaili said with the growing consumer awareness on healthy lifestyle and natural ingredients,

include plant-based herbal health products, natural cosmetics, organic foods, and aromatherapy products. “In fact, Iranian products are of very high quality, but not many people know this. “So, we have the advantage of being pioneers in this market. “Young entrepreneurs can rebrand them and sell according to local preferences,” she said. Wawasanita also sees strong export potential for Malaysian products to the Iranian market, particularly in halal food, tropical-based health products such as virgin coconut oil and traditional Malay herbs, as well as local halal cosmetics. “Iran greatly values Malaysia’s high-quality halal-certified products, and this opens up significant opportunities for Malaysian entrepreneurs, especially SMEs, to expand into the West Asian market,” Norlaili said.