Labour shortage, weaker ringgit among challenges faced by construction industry this year

A labour shortage, as well as rising raw material costs and interest rates amid the weaker ringgit have continued to weigh on the local construction sector despite the economy rebounding post-pandemic.

尽管经济在大流行后反弹，但劳动力短缺以及林吉特疲软导致原材料成本和利率上升，继续对当地建筑业构成压力。

Construction Industry Development Board (CIDB) Malaysia chief executive Datuk Ahmad Asri Abdul Hamid said the series of overnight policy rate (OPR) hikes by the Malaysian central bank have affected the industry.

马来西亚建筑业发展局（CIDB）首席执行官Datuk Ahmad Asri Abdul Hamid表示，马来西亚中央银行的一系列隔夜政策利率（OPR）上调已经影响了该行业。

"A higher OPR means that the borrowing cost will become more expensive for consumers, including contractors.

“更高的 OPR 意味着借款成本对包括承包商在内的消费者来说将变得更加昂贵。

"Banks will revise the costs following the increase in OPR by the Bank Negara Malaysia (BNM), resulting in higher interest rates for businesses," he told Bernama.

他告诉Bernama：“随着马来西亚国家银行（BNM）提高 OPR，银行将修改成本，导致企业利率上升。”

On 4th November, the central bank raised the OPR by 25 basis points (bps) to 2.75%, the fourth consecutive hike since May this year.

11 月 4 日，央行将 OPR 上调 25 个基点 (bps) 至 2.75%，这是自今年 5 月以来连续第四次加息。

Labour shortage

劳动力短缺

Ahmad Asri said entering the endemic stage has resulted in a significant increase in construction activities as all construction sites can operate without strict standard operating procedures (SOPs).

Ahmad Asri说，进入流行阶段导致建筑活动显着增加，因为所有建筑工地都可以在没有严格的标准操作程序（SOP）的情况下运行。

"(However), the construction industry still has an estimated shortage of about 400,000 workers, to date, and the CIDB is working closely with industry associations and the Human Resources Ministry to facilitate resolving the issue."

“（然而）迄今为止，建筑业估计仍有约 40 万工人短缺，CIDB 正在与行业协会和人力资源部密切合作，以促进解决这一问题。”

The National Recovery Council recently called for the shortage of foreign workers issue to be resolved soon, with arrivals of foreign labour into Malaysia less than the levies already paid at RM713,890 for the approved quota of 467,223.

国家复兴委员会最近呼吁尽快解决外劳短缺问题，因为抵达马来西亚的外劳少于已为批准的 467,223 配额支付的 713,890 令吉征税。

The council's chief executive officer Tan Sri Sulaiman Mahbob said on 31st October that the quota approval and levy payment data as of 12th September showed an approved quota of 467,223 workers. However, only 76,000 labour entries from 12 countries were recorded for the same period.

该理事会总执行长丹斯里Sulaiman Mahbob在 10 月 31 日表示，截至 9 月 12 日的配额批准和征费支付数据显示，批准的配额为 467,223 名工人。然而，同期只有来自 12 个国家的 76,000 名劳工入境记录。

"We found that many workers applied and made payments, but there were fewer people arriving. The question is, why haven't they come?

“我们发现很多工人申请并付款，但来的人少了。问题是，他们为什么没有来？

"Does it involve their country's problems or some other reasons? This point needs to be emphasised, otherwise, the agriculture sector, especially palm oil, will continue to suffer," he said.

“这是否涉及他们国家的问题或其他一些原因？这一点需要强调，否则，农业部门，特别是棕榈油，将继续受到影响，”他说。

He added that labour-intensive industries such as manufacturing, tourism, construction and retail, as well as electronics and agriculture, have also been affected by the labour shortage.

他补充说，制造业、旅游业、建筑业和零售业，以及电子和农业等劳动密集型行业也受到劳动力短缺的影响。

Currency impact

货币影响

Ahmad Asri noted that the ringgit had weakened against the US dollar since March, from below RM4.20 to hitting RM4.72 in October, leading to higher prices of imported goods and materials.

Ahmad Asri指出，自 3 月以来，令吉兑美元走弱，从 4.20 令吉以下跌至 10 月的 4.72 令吉，导致进口商品和材料价格上涨。

"A weaker domestic currency means that the price for foreign goods will generally rise. Among the construction materials affected are cement and steel.

“本币疲软意味着外国商品的价格普遍上涨。受影响的建筑材料包括水泥和钢材。

"The price of mechanical and electrical (M&E) components has also increased because many M&E components are imported from the United States.

“机电 (M&E) 组件的价格也有所上涨，因为许多机电组件都是从美国进口的。

"We hope to see the situation improve with the currency strengthening in the future," he said.

他说：“我们希望未来随着货币走强，情况会有所改善。”

The local currency has been on a downward trajectory against the greenback since early this year, driven by the weakening of the global economic outlook, as well as the concern over domestic political stability.

自今年年初以来，在全球经济前景转弱以及对国内政治稳定的担忧的推动下，本币兑美元汇率一直处于下行轨道。

However, of late, the ringgit has started to make gains against the greenback. It rose to RM4.40 versus the US dollar on 1st December.

然而，最近令吉兑美元开始走强。它在 12 月 1 日兑美元升至 4.40 令吉。

Moving forward, Ahmad Asri said the performance of the construction sector is expected to be "constant" for the next two years.

展望未来，Ahmad Asri表示，预计未来两年建筑业的表现将“保持稳定”。

"The construction industry is still in the process of recovering from the pandemic.

“建筑业仍处于从大流行中恢复的过程中。

"Among the main challenges are the increase in the price of some building materials, the lack of workers, the increase in workers' minimum wage as well as the cost to house them and cash flow issues faced by contractors.

“主要挑战包括一些建筑材料价格上涨、工人短缺、工人最低工资上涨以及安置他们的成本以及承包商面临的现金流问题。

"We hope to see more allocations for infrastructure development and other construction projects to ensure the growth of the construction industry as it will catalyse the growth of many other economic sectors," he added.

他补充说：“我们希望看到更多的拨款用于基础设施发展和其他建设项目，以确保建筑业的增长，因为它将催化许多其他经济部门的增长。”