Malaysia-based construction players, including Bumiputra firms, should strive to become world-class companies capable of competing against leading multinational firms like JGC of Japan, Bechtel of the US, Sweden’s Skanska, as well as South Korea’s Hyundai and Daewoo, according to Prime Minister Datuk Seri Najib Tun Razak.
In line with this, UEM Group has promised to hone the expertise of 40 bumi companies from 2017 to 2020, in addition to the 51 it is currently honing under the Bumiputra Vendor Development Programme it inked with the International Trade and Industry Ministry (Miti).
According to UEM Group Chairman Tan Sri Ahmad Tajuddin Ali, they have granted over RM5 billion worth of contracts to bumiputra vendors between 2011 and 2016. The group also aims to increase the exposure of these firms to more lucrative businesses with the help of the group’s four main businesses.
In particular, bumiputra vendors can learn about township & property development from UEM Sunrise, engineering & construction from UEM Builders and Cement Industries of Malaysia, while UEM Edgenta can share their expertise on asset & facility management. They can also get the knowhow on building and operating expressways from PLUS Malaysia Bhd and PLUS Expressways International Bhd.
“We don’t only provide business opportunities to these vendors but we also hold them to the highest standards of performance such as Business Excellence initiative, thus creating truly global players. The results are already starting to show with three bumiputra companies under our guidance recently making it to the final round of the Industry Excellence Awards organised by Miti,” he said.
These firms are MKRS Bumi (M) Sdn Bhd, Primelux Energy Sdn Bhd and Medical Apparatus Supplies Sdn Bhd.
Meanwhile, UEM’s Group Managing Director and CEO Datuk Izzaddin Idris revealed that they plan to focus on their existing four primary businesses, but the company is considering to venture into some industries in the future. It would also continue to seek opportunities domestically and in nearby countries.
“Indonesia is a country where infrastructure is in demand and highways being one of them. Following the opening of our 116km Cikopo-Palimanan toll road in Indonesia in June 2015, we have developed and proposed new alignments to the government as well as participated in several of their tenders.”
“In addition, we have been approached by several interested parties to jointly developed new highways – proposals which we are currently evaluating,” he added.
Image sourced from The Star
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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