KUALA LUMPUR, Oct 31 – Contractors must be brave to face risks to venture into new markets and not depend on building sector alone, said Deputy Prime Minister, Tan Sri Muhyiddin Yassin. Muhyiddin said they must also diversify their businesses into other sectors like agricultural technology, oil and gas, information technology and multimedia.
“Actually, the business opportunities in Malaysia are vast. The contractors actually do not have to go into sectors where many people have ventured into. They must be more creative and innovative to venture into new sectors. “They must follow every development in the global business world closely to grab the opportunities that arise,” he said in his speech at the annual general meeting and dinner of Malay Contractors Association of Malaysia (PKMM) here today.
The text of his speech was read out by Deputy Works Minister, Datuk Rosnah Abdul Rashid Shirlin. Muhyiddin said Malay contractors must be well-equipped with enough knowledge and skills so they could ‘duduk sama rendah dan berdiri sama tinggi’ with contractors of other races. “Our battle has not been completed. They are still much efforts needed to expand. If we aim to succeed and be respected, we need to show that we have the capabilities to be on par with other races,” he said.
Muhyiddin said the contractors needed to be ready to face tough challenges in the world of business by being self-discipline and follow ethical business practices. “PKMM members must learn from those that are successful and take note of those who had failed. Previous failures should serve as a guidance to help us succeed in future,” he said.
He said the country’s infrastructure development has offered job opportunities, especially in building sector. Indirectly, this showed the government’s commitment to help the contractors, especially the Malay contractors, he said. “I understand that the Works Ministry’s Contractor and Entrepreneur Development Division (BPKU) has prepared several programmes to help Malay contractors and Bumiputeras especially one that help producers and suppliers of building materials team up with contractors,” he said.
He said other programmes included work distribution policy to help Bumiputera Class E and Class F contractors,” he said. The programme’s objective, he said, was to give opportunities to small sub-contractors to be active together with the main contractor who has the job.