Sin Sin Construction Sdn Bhd managing director Tan Wee Hiong said this was due to the implementation of new public projects in the state.
“The government-led projects are bringing relief to the construction industry during the current slowdown as the private sector had cut its spending,’’ he told StarBiz.
Tan hoped the relevant government agencies would be more efficient and swift in implementing the projects under the second stimulus package as they would benefit the construction industry.
He also hoped that the private sector would not further cut their spending as both the public and the private sectors played an important role even during a recession.
Banks in Malaysia had also played a major role by continuing to assist businesses and companies financially, Tan said, adding that low interest rates for housing loans offered by banks and special packages by housing developers also helped developers to launch new properties.
“It is okay if the number of units launched is smaller unlike during good times. Its better to have something rather than not having anything at all.’’
Tan said the slowdown in the second half of 2008 had stabilised prices of building materials, including common bricks.
He said Singapore also played an important role in Johor’s economic performance as both countries were closely linked economically.
Despite the recession, there were several ongoing major public and private projects in Singapore and demand for building materials from Johor for Singapore customers was still “healthy”, he said.
“When Singapore fully recovers, Johor will be the first to benefit as the city state needs more workers and Johor is traditionally the main supplier of labour there,’’ Tan added.
By The Star (by Zazali Musa) (Posted on 22 June 2009)
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