MIDA And CIDB Renew Collaboration to Promote Investments in Industrialised Building System (IBS)
MIDA, and the Construction Industry Development Board Industrialised Building System (CIDB IBS) successfully organised the second CR4.0 Conference 2021 on 11 November 2021 in conjunction with the International Construction Week
MIDA, and the Construction Industry Development Board Industrialised Building System (CIDB IBS) successfully organised the second CR4.0 Conference 2021 on 11 November 2021 in conjunction with the International Construction Week (ICW2021) and ASEAN Super 8 which was held from 9 to 11 November 2021.
The conference aimed to enhance the awareness of stakeholders and the construction industry players on the industry’s digital transformation, in line with the Construction Revolution 4.0 Strategic Plan (2021 – 2025) and the National Construction Policy 2030.
In conjunction with the conference, a Forum on ‘Revolutionising Supply Chain Ecosystem in the Manufacturing Related Construction Industries’ was organised by MIDA with the objectives of:
- Introducing digital technologies in the design, construction and operation of projects in the manufacturing related construction industry and supply chain; infrastructure; real estate and other built assets
- Analysing the substantial economic and social impact on the application of the 12 elements of technologies under CR 4.0 including Building Information Modelling (BIM), Industrialised Building System (IBS), wireless sensors, Big Data, 3D printing and automation
- Showcasing the availability of digital technology which could transform basic construction materials to higher value added processes by adopting more advanced technology
The CR4.0 Conference 2021 also marked a new cooperative partnership between MIDA and CIDB with the signing of a 5-year Memorandum of Understanding (MoU) that will boost productivity and sustainability practices in the manufacturing, services and construction sectors. The first MoU between MIDA and CIDB was signed on 5 August 2016 and the partnership lasted for four years.
The Government continues to encourage the IBS implementation in Malaysia through the support of Investment Tax Allowance (ITA) of five (5) years for companies producing at least three basic components of IBS. This allowance can be offset against 70 per cent of the statutory income for each year of assessments. The ITA incentive is extended until 31 December 2025.
From the period of 2017 to June 2021, MIDA has approved a total of 56 industrialised building system (IBS) projects valued at RM4.5 billion in investments. The approved projects have created 4,521 employment opportunities, including skilled positions for engineers, specialised quality controllers and highly skilled technicians.
The event successfully brought together 300 attendees virtually that comprised engineers, surveyors, architects, associations, developers, industry professionals, Government representatives, regulators, manufacturers, micro enterprises, SMEs, retailers, consultants, industry experts, academia, universities and embassies.
9 (Tuesday) 8:00 am - 11 (Thursday) 5:00 pm