Nippon Paint anticipates modest development in the local construction industry.

04-01-2023   Despite an ongoing labour scarcity, a holdup in real estate construction, and large increases in raw material prices, Nippon Paint has set a goal to expand its market share in the business-to-business (B2B) and business-to-consumer (B2C) segments to 46% and 42%, respectively. According to the Department of Statistics Malaysia, the amount of building work completed in the third quarter of 2022 increased by RM30.5 billion, or 23.2%, when compared to the same quarter in 2021. Non-residential buildings (37.7%), special trades (32.2%), residential buildings (17.8%), and civil engineering (14.6%) subsectors also contributed to the expansion.