Latest news with #RM42.9
Daily Express
10-05-2025
- Business
- Daily Express
Construction sector hits RM42.9 billion
Published on: Saturday, May 10, 2025 Published on: Sat, May 10, 2025 By: Bernama Text Size: Mohd Uzir further explained that of the RM42.9 billion in work done, RM15.7 billion came from the civil engineering sub-sector, mainly driven by roads and railways (RM7.9 billion) and utility projects (RM6.0 billion). - Pic for illustration only. Kuala Lumpur: Malaysia's construction sector recorded a 16.6 per cent year-on-year (y-o-y) increase in the value of work done to RM42.9 billion in the first quarter of 2025 (1Q 2025), according to the Department of Statistics Malaysia (DOSM). In a statement, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the sector maintained its upward momentum, albeit at a more moderate pace compared to the 23.1 per cent growth registered in the previous quarter. '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 per cent and 27.0 per cent, respectively. 'The non-residential buildings sub-sector showed an increase of 21.0 per cent, while the civil engineering sub-sector remained positive with marginal growth of 3.7 per cent,' he said. Mohd Uzir further explained that of the RM42.9 billion in work done, RM15.7 billion came from the civil engineering sub-sector, mainly driven by 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 stood at RM12.3 billion (28.8 per cent) and RM9.9 billion (23.0 per cent), respectively. 'Special trade activities contributed RM5.0 billion (11.6 per cent), with major contributions from site preparation (RM1.3 billion), electrical installation (RM1.2 billion), and plumbing, heating, and air-conditioning installation (RM1.1 billion),' he said. Elaborating on the construction sector, Mohd Uzir said the private sector remained the main driver of growth this quarter, with an increase of 23.7 per cent, supported by special trade activities (40.9 per cent) and residential buildings (26.5 per cent). 'The value of work done by the private sector amounted to RM27.0 billion, or 62.9 per cent of the total construction work done value, he noted. In contrast, Mohd Uzir said the public sector contributed RM15.9 billion, or 37.1 per cent of the total work done, with a growth of 6.3 per cent (compared to 8.8 per cent in Q4 2024). 'The growth was driven by the residential buildings (34.8 per cent) and special trade activities (24.5 per cent) sub-sectors, contributing RM0.7 billion and RM1.5 billion, respectively,' he said. On a state-by-state basis, he added that nearly two-thirds of construction activity was concentrated in Selangor, Johor, Wilayah Persekutuan (Kuala Lumpur, Putrajaya, and Labuan), and Sarawak. Selangor topped the list with RM11.1 billion (25.9 per cent) in construction work, followed by Johor with RM7.7 billion (18.0 per cent), Wilayah Persekutuan at RM4.5 billion (10.6 per cent), and Sarawak with RM3.9 billion (9.0 per cent). * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
24-04-2025
- Business
- New Straits Times
TNB doubles capex to RM42.9bil to back energy transition efforts
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has more than doubled its budgeted capital expenditure (capex) to RM42.9 billion — comprising RM26.6 billion in base capex and RM16.3 billion in contingent capex — to support infrastructure development for Malaysia's energy transition. President and chief executive officer Datuk Megat Jalaluddin Megat Hassan said of the contingency capex, 64 per cent will be to upgrade infrastructure to support renewable energy (RE), the National Energy Transition Roadmap (NETR) and interconnection projects, while 30 per cent is to meet potential demand growth, and six per cent to maintain security of supply. "Our top priority will be to accelerate decarbonisation. We plan to ramp up investments in solar (LSS5+, LSS6), battery storage (BESS), corporate renewable energy supply scheme (CRESS) and community-based renewables (CREAM). "We will also push forward on green hydrogen, carbon capture, electric mobility, and smart grid interconnections, all vital pieces of the Asean Power Grid vision," he said in TNB's 2024 annual report, filed with Bursa Malaysia today. Energy Transition Efforts Megat Jalaluddin said that to date, TNB currently has 3.3 gigawatt (GW) of RE in Peninsular Malaysia and 1.1 GW abroad, mainly in the United Kingdom (UK) and Ireland. "In 2024, we secured over 700 megawatt-peak (MWp) of solar projects in large solar capacity through LSS5 and LSSS. "In addition, we achieved financial close for a 45MWp solar plant in Kulim under the Corporate Green Power Programme (CGPP)," he said. Internationally, TNB operate a combined capacity of 927 megawatt (MW) comprising solar and wind assets in the UK, Ireland, and Australia, as well as has commenced construction of two new solar farms in the UK, totalling 102MWp. Under the NETR, Megat Jalaluddin said TNB are making progress on three flagship projects, namely floating solar, centralised solar parks, and hydrogen projects. "On floating solar, there is a 2.5 gigawatt (GW) floating solar photovoltaic development across our hydro reservoirs. "This includes a successful installation of 154kWp at Kenyir Dam. For centralised solar parks, we are developing five 150MWp solar parks across Malaysia with local partners. "Currently, we have secured to supply 150MWp of green energy to Bridge Data Centres via Corporate Renewable Energy Supply Scheme (CRESS)," he said. Megat Jalaluddin highlighted that TNB are also working with Petronas on green hydrogen using solar power from its Kenyir project, where a pilot system is currently in place with 500kWp solar panels and 1MWh battery storage. He said TNB has secured a 400MWh battery energy storage system project in Sabah, which is notably the largest of its kind in Asean. "Concurrently, we also received a 400MWh pilot project for the national grid. We have also ventured into the carbon capture and storage space to help reduce emissions from thermal plants," he said. Outlook Going forward, he said the company is optimistic about 2025, with economic growth projected at 4.5 per cent–5.5 per cent, with electricity demand rising by up to 4.5 per cent. "With the launch of the Regulatory Period 4 (RP4) and a promising 7.3 per cent return on investment, we are provided with strong confidence to scale up," Megat Jalaluddin said.
