AS one of the most active markets in Southeast Asia, Malaysia’s construction industry is poised for an annual growth rate of 6.5% between 2022 to 2025, which will be driven by the economic recovery and key investments within a few sub sectors including transport infrastructure, residential and water infrastructure projects.
Despite the exponential growth of the construction industry over the past decade, the construction management scene in Malaysia is being hampered from progress by traditional models that can actually be digitised and automated. This includes manual paperwork, logistics and inventory.
To close the gap, with its comprehensive solutions, Proficient – Malaysia’s first end-to-end construction project management platform – aims to play its role in aiding the growth of the local construction industry.
By harnessing the capabilities of its cloud-based project management application, Proficient seeks to transform the current construction management model into a more efficient and innovation-driven one.
In its latest development, Proficient announced its successful seed funding of RM1 mil by Falnas Capital Sdn Bhd, a strategic investment firm backed by local entrepreneur, SM Faliq SM Nasimuddin.
Accessible as a mobile project management application and web dashboard designed for effective risk management and to increase efficiency, the Proficient software allows developers to digitally manage communications, documents and all aspects of field operations including timeline, progress and requirements.
According to Proficient, its accessibility and transparency can mitigate construction delays and budget overruns, while providing a complete purview to key stakeholders, contractors and project managers.
“We are incredibly grateful for the trust and confidence that our partners have placed in us and we look forward to directing this new injection towards boosting our innovation-driven model in Malaysia’s competitive construction industry,” Proficient CEO Jitin Girdhar said.
Proficient will utilise its seed funding to further expand its footprint into local and regional markets, while accelerating its platform’s expansion to offer more innovative functions and to boost its artificial intelligence (AI) capabilities. The fund will also be channeled towards talent recruitment for its current core team.
“As an investment firm that is geared towards developing high-potential businesses, we see Proficient as an innovative platform that will positively transform the construction landscape in the country,” Faliq remarked.
“Being a home-grown development initiative, it augurs well with our goal to participate in businesses that strive to be a world class entity with global presence.”
Developed in Malaysia, Proficient was launched its software in April 2020 and it is the first software system that incorporates the entire construction project management workflow with an aim to enrich all project stakeholders through features and capabilities for effective risk management and improved efficiency, hence leading to higher productivity and transparency.
Proficient has provided its construction management capabilities to some of the biggest Malaysian property developers including Hap Seng Land and Naza TTDI.
Meanwhile, Falnas Capital was established with the aim to grow financially viable concepts into thriving and sustainable businesses. So far, it has invested over RM40 mil in various business sectors that include technology, transportation management and hospitality.
“We believe that once it has established a firm presence in Malaysia, Proficient is well capable to move to the next level of regional and global expansion,” Faliq concluded. – July 4, 2021
