This is an archive of newsclips on CONSTRUCTION INDUSTRY with a good dose of those on ECONOMY thrown in as well. The contents of this blog are purely archival and do not represent anything on the one who blogs, or any persons, pets, properties, accessories or entities associated with him. The blogger is not responsible for any inaccuracies that may be inherent in the materials.
Sunday, June 17, 2012
proposed amendments governing construction sector
BUTTERWORTH: Three proposed amendments governing the Malaysian construction industry is likely to be tabled in Parliament for first reading, the Board of Quantity Surveyors Malaysia said today.
Its President Datuk Abdull Manaf Hashim said the board was trying to get the amendments for first reading in the current Parliament session. The session started yesterday and will end on June 28.
The amendments are Registration of Engineers Act 1967, Architects Act 1967 and Quantity Surveyors Act 1967, he told reporters after opening a seminar on Legal Reforms in the Malaysian Construction Industry.
Abdull Manaf said the amendments are the result of the emerging challenges due to globalisation and trade liberalisation within the Malaysian construction industry.
"The globalisation and liberalisation have opened up phenomenal opportunities for Malaysian players to explore previously unchartered waters in international construction contracts and in joint venture participation," he said.
Abdull Manaf said the industry needed legal reforms to deal with increasingly complex and wider coverage of liabilities and obligations as well as growing concerns and commitment for projects to be completed and delivered in a lawful manner.
He said two amendments were approved recently, namely Construction Industry Development Board Malaysia (CIDB) Act 502 and the Construction Industry Payment and Adjudication Act (CIPAA) will be implemented next year.
CIPPA's main objectives are to manage persistent cashflow problems arising from frequent miscommunications of contractual obligations and ensure all payment terms are easily understood and accepted by all parties involved in a contract.