Investment

Wednesday, July 22, 2009

Penang group secures RM2bil in building material contracts

Source: The Star Online (David Tan)

GEORGE TOWN: Over RM2bil worth of contracts to supply building materials have been secured by about half of the Penang Master Builders and Building Materials Dealers Association’s (PMBBMDA) 117 members so far this year.

President Finn Choong said the materials included essential building blocks such as steel, cement and other aggregates for residential projects in Penang.

“These contracts do not include materials for interior decoration. They only involve PMBBMDA members,” Choong told StarBiz.

Works on the second Penang bridge did not require raw materials from its members at the moment, he said.

He added that the bridge will require supplies from our members when the piling and concrete works begin.

“The contracts to supply materials such as steel, cement, crusher run and premixed bitumen (for the bridge) should be worth a further RM1bil.”

Meanwhile, PMBBMDA secretary Ong Soo Yong said the forthcoming commercial and residential projects, such as the First Avenue Shopping Mall, Cititel Express and IJM’s The Light Linear, should generate demand for interior finishing products from local building material suppliers.

“The Kuala Lumpur-based developers in Penang tend to source essential building blocks from suppliers in Kuala Lumpur and not from our members.

“For such projects, our members can look forward to supplying interior finishings,” he said.

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