Malaysia Infrastructure Report Q3 2009

Malaysia Infrastructure Report Q3 2009

Published By: Business Monitor International
June 2009
R302-6664
Online Download $495.00

Description

We have revised down our forecasts for this quarter in light of worse than expected gross fixed capitalformation and real capital investment growth figures. In 2008, real capital investment growth was just1.1%, compared with an earlier estimate of 5.4%. This exacerbates our earlier-expressed fears thatpromised government investment in infrastructure is often failing to materialise (in part due to thegovernment's funding constraints). We now believe that the real value of Malaysia's construction sectorwill decline by 3.6% in 2009, compared with our earlier 2009 forecast of a relatively shallow decline of-1.4%. Furthermore, we are now more bearish about the prospects for 2010 than we were during our lastupdate. We now predict that the sector will register real growth of just 0.4% next calendar year, comparedwith our earlier forecast of 2.1%. Thereafter, we anticipate only very modest real sector growth in 2011and 2012 of 1.2% and 1.8% respectively.

The principal news in Malaysia’s infrastructure sector in the last quarter is concerning Malaysia's largestpower producer, Tenaga Nasional Berhad (TNB), which is aiming to raise ringgit-denominated loansfor funding its US$2bn undersea electricity transmission line (May 2009). The submarine transmissionline will transfer power from Sarawak on Borneo to the peninsula. The project includes installation of a730km high-voltage direct current transmission network. It also includes laying of a 670km underseacable for the 2,400MW Bakun hydro-electric dam.

This quarter we introduce a profile for IJM Corp. The company, which has interests across a wide rangeof infrastructure-related sectors and geographic regions, maintained a profit in the last 12-month reportingperiod. Several factors offer support, including exposure to India’s market, where we anticipatemoderately strong economic growth in 2009, in contrast to recessions in many other countries (includingMalaysia).

Table of Contents

Executive Summary: Market Overview; Malaysia; Global Overview; Governments To The Rescue: The Global Surge In Infrastructure Spending
Table: Infrastructure Stimulus Plans List, 2009-2010 (US$bn): SWOT Analysis; Malaysia Infrastructure SWOT; Malaysia Political SWOT; Malaysia Economic SWOT; Malaysia Business Environment SWOT; Major Infrastructure Developments And Key Projects; Transport Infrastructure Overview; New And Ongoing Projects; Airports; Ports; Roads; Railways; Energy And Utilities Infrastructure Overview; Primary Energy Demand; Meeting Future Demand; New And Ongoing Projects; Power Plants and Transmission Grids; Oil and Gas Pipelines; Water; Construction Overview; New And Ongoing Projects; Residential Construction; Commercial Construction; Industrial Construction; Tourism Construction; Major Projects
Table: Malaysia - Major Infrastructure Projects - Transport
Table: Malaysia Major Infrastructure Projects - Utilities
Table: Malaysia Major Infrastructure Projects - Construction
Table: Economic And Construction Data: BMI Forecasts; Risks; Business Environment; Asia Pacific Infrastructure Business Environment Ratings; Regional Infrastructure Business Environment Ratings; Limits Of Potential Returns; Risk To The Realisation Of Potential Returns; Project Finance Ratings: Outlook For Asia Pacific
Table: Design And Construction Rating
Table: Commissioning And Operating Rating
Table: Overall Project Finance Rating: Foreign Direct Investment; Labour Force; Legal Framework; Tax Regime; Macroeconomic Outlook
Table: Malaysia - Economic Activity: Political Outlook; Company Monitor
Table: Malaysia - Key Players: Company Profiles; IJM Corp; Gamuda; WCT Berhad; Country Snapshot: Malaysia Demographic Data; Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030: Section 2: Education And Healthcare
Table: Education, 2000-2003
Table: Vital Statistics, 2005-2030: Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2001-2006
Table: Consumer Expenditure, 2000-2012 (US$)
Table: Average Annual Manufacturing Wages, 2000-2012: BMI Forecast BMI Forecast Modelling; How We Generate Our Industry Forecasts; Construction Industry; Sources; Business Environment Ratings; Ratings Overview
Table: Infrastructure Business Environment Indicators: Project Finance Ratings Methodology; Design & Construction Phase; Historical Data & Forecasts; Commissioning and Operating Phase- Commercial Construction; Commissioning and Operating Phase - Energy and Utilities; Commissioning and Operating Phase -Transport

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PUBLICATION: Malaysia Infrastructure Report Q3 2009
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