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© This is a licensed product of Ken Research and should not be copied

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TABLE OF CONTENTS

List of Figures

List of Tables

1. Green Building Industry Dynamics: Evolvement and Development in the World

2. Malaysia Green Buildings Industry Introduction

3. How Do Green Buildings Improve Business?

4. Malaysia Green Building Industry: Key Drivers

4.1. Government Initiatives for Green Technology in Malaysia

4.2. Growing Environment and Climate Change Concerns in Malaysia

4.3. Rising Energy Costs

4.4. Increasing Awareness about Green Buildings

5. Malaysia Green Building Industry: Key Constraints

Higher Cost of Sustainable Housing

Lack of Awareness and Understanding on Sustainable Development

Lack of Expertise and Technology

Lack of Enforcement

Lack of Training and Education

Lack of Commitment from Organizations

Lack of Requirement and Demand from Stakeholders

6. Malaysia Green Building Industry Value Chain

7. Construction Spending in Malaysia, 2012

8. Malaysia Green Buildings Market Size, 2010-2014

8.1. By Number of Certified Green Buildings, 2010-2014

8.2. By Gross Floor Area, 2013-2014

9. Malaysia Green Building Market Segmentation

9.1. By Types of Green Buildings, 2013-2014

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9.2. By Ratings, 2013-2014

9.3. By Certified and Registered Buildings by States, 2013-2014

10. Analysis of Key Developments in Green Buildings Industry in Malaysia

Accelerating Green Building Projects in Malaysia

Triggers Driving Green Building Activities in Malaysia

Top 3 Social Reasons for Undertaking Green Projects in Malaysia

Major Environmental Reasons for Undertaking Green Projects in Malaysia

Major Challenges to Green Buildings Development in Malaysia

Top Business Benefits of a Green Building

Impact of Financial Incentives on Decisions to Undertake Green Building Projects

Factors Influencing the Formulation of Green Policies in Malaysia

Top 3 Benefits for Using Green Building Rating System in Malaysia

11. Environmental Impact of Green Buildings in Malaysia

11.1. Impact on Air

11.2. Impact on Water

11.3. Impact on Landfill

12. Technology Analysis of Green Buildings

12.1. Water Efficiency

12.2. Energy Efficiency

12.3. Material Efficiency

12.4. Indoor Air Environment Quality

13. Evolvement of Green Buildings Market in the World

13.1. Snapshot of Australia Green Building Market

13.2. Snapshot of the US Green Building Market

13.3. Snapshot of the UK Green Building Market

13.4. Snapshot of Singapore and Other South East Asia Green Building Market

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14. Malaysia Green Building Industry Future Outlook and Projections, 2015-2019

14.1. Cause & Effect Relationship Analysis between Industry Factors and Malaysia Green Building Industry

15. Malaysia Green Building Material Market

15.1. Malaysia Green Buildings Material Market Introduction

15.2. Malaysia Green Building Material Market Size by Revenue, 2008-2013

15.3. Malaysia Green Building Material Market Segmentation

15.3.1. By Application Products, 2013

Thermal and Moisture Protection, 2013

Mechanical Products, 2013

By Electrical Products, 2013

Others, 2013

15.4. Competitive Landscape of Malaysia Green Building Materials Market

15.5. Malaysia Green Building Materials Market Future Outlook and Projections, 2014-2018

16. Macro Economic Indicators of Malaysia Green Buildings Market: Current and Projections

16.1. GDP of Malaysia, 2009-2018

16.2. Inbound Tourist Arrivals in Malaysia, 2009-2018

16.3. Urban Population in Malaysia, 2009-2018

16.4. Building Construction Market in Malaysia, 2009-2018

17. Analyst Recommendation

18. Appendix

18.1. Market Definitions

18.2. Abbreviations

18.3. Research Methodology

Data Collection Methods

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Approach

Variables (Dependent and Independent)

Multi Factor Based Sensitivity Model

Final Conclusion

18.4. Disclaimer

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LIST OF FIGURES

Figure 1: Chronology of Green Buildings in Malaysia, 1992-2009

Figure 2: The Path for Achieving Sustainable Construction

Figure 3: Benefits of Green Buildings to Building Owners, Building Occupants and Community

Figure 4: Electricity Generation Capacity in Malaysia by Different Resources in Percentage (%), 2012

Figure 5: Energy Demand in Malaysia by Industrial, Residential, Commercial and Other Sectors in Percentage (%), 2012

Figure 6: Energy Consumption in Malaysia by Petroleum, Natural Gas, Coal, Nuclear Electric Power and Renewable Energy in Percentage (%), 2012

Figure 7: Renewable Energy Consumption in Malaysia by Biomass, hydroelectric, Wind, Geothermal and Solar in Percentage (%), 2012

Figure 8: Malaysia Green Building Industry Value Chain

Figure 9: Pictorial Representation of Make a Building Green

Figure 10: Spending on Construction Sector in Asia by Geographies in USD Billion, 2012

Figure 11: Malaysia Construction Spending by Non-Residential, Residential Sector and Infrastructure in Percentage (%), 2012

Figure 12: Number of Registered and Certified Green Buildings in Malaysia, 2010- 2014

Figure 13: Gross Floor Area of GBI Certified Buildings in Malaysia in Square Meters, 2013-2014

Figure 14: GBI Certified Projects by Types of Buildings in Percentage (%), 2014

Figure 15: GBI Certified Buildings in Malaysia by Ratings in Percentage (%), 2013-2014

Figure 16: Top Three Triggers Driving Future Green Building Activities in Malaysia by Importance in Percentage (%), 2013

Figure 17: Top 3 Social Reasons for Undertaking Green Projects in Malaysia by Importance in Percentage (%)

Figure 18: Most Important Environmental reasons for undertaking Green Projects in Malaysia in Percentage (%), 2013

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Figure 19: Challenges to the Development of Green Building Industry in Malaysia by Importance in Percentage (%), 2013

Figure 20: Top 5 Business Benefits of a Green Building in Malaysia by Importance in Percentage (%), 2013

Figure 21: Top 3 Benefits for Using Green Building Rating System in Malaysia in Percentage (%), 2013

Figure 22: Carbon Dioxide (CO2) Emissions by GBI Certified Buildings in Malaysia

Figure 23: Market share of Major Countries in Global Green Buildings Market by Revenue Contribution in Percentage (%), 2012

Figure 24: Percentage Share of Green and Non Green Building Project Activities in Australia, 2012

Figure 25: Percentage Share of Green and Non Green Building Project Activities in the US, 2012

Figure 26: Percentage Share of Green and Non Green Building Project Activities in the UK, 2012

Figure 27: Percentage Share of Green and Non Green Building Project Activities in Singapore, 2012

Figure 28: Percentage Share of Green and Non Green Building Project Activities in South East Asian Economies, 2012

Figure 29: Malaysia Green Building Industry Future Projections by Buildings Registration and Certifications, 2015-2019

Figure 30: Top Parameters Considered for Indentifying whether a Construction Material is Green or not, 2013

Figure 31: Malaysia Green Building Material Market Size by Revenue in USD Million, 2010-2013

Figure 32: Green Building Materials Market Segmentation by Application, 2013

Figure 33: Malaysia Green Building Materials Market Future Projections by Revenue in USD Million, 2014-2018

Figure 34 : Malaysia GDP in USD Million, 2009-2018

Figure 35: Inbound Tourists Arrivals in Malaysia in Million, 2009-2018

Figure 36: Total Urban Population and as a Percentage of Total Population in Malaysia, 2009-2018

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Figure 37: Building Construction Market in Malaysia by Revenue in USD Million, 2009-2018

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LIST OF TABLES

Table 1: Green Policies in Malaysia, 2001-2011

Table 2: Green Building Benefits to Commercial Building Owners and Commercial Building Tenants

Table 3: Green Building Benefits by Operating Costs, Building Value, ROI, Occupancy and Rent

Table 4: Carbon Dioxide (CO2) Emission Reduction by GBI Certified Buildings

Table 5: Major Sources of CO2 Emissions in Malaysia, 2013

Table 6: Malaysia Construction Spending by Non-Residential, Residential Sector and Infrastructure in USD Billion, 2012 and Expected Growth Prospects (2013-2018)

Table 7: Malaysia GBI rating criteria

Table 8: Gross Floor Area of GBI Certified Buildings in Malaysia by Categories on the Basis of Contribution in Percentage (%), 2013-2014

Table 9: Gross Floor Area of GBI Certified Buildings in Square Meters, 2013-2014

Table 10: GBI Certified Projects in Malaysia by Categories, as of 15th March, 2014

Table 11: GBI Certified Projects in Malaysia by Categories, as of 15th March, 2013

Table 12: Green Building Index Rating Classification by Points Awarded

Table 13: GBI Certified Projects in Malaysia by Ratings, as of 15th March, 2014

Table 14: GBI Certified Projects in Malaysia by Ratings, as of 15th March, 2013

Table 15: Number of Registered and GBI Certified Projects by State / Territory in Malaysia, 2013 and 2014

Table 16: Percentage of Firms (real estate companies, factories, offices and others) which are presently in 3 different stages of Green Development in Malaysia

Table 17: Impact of Financial Incentives on Decisions to Undertake Green Building Projects by Types of Incentives, Degree of Impact and View

Table 18: Key Factors Influencing the Formulation of Green Policies in Malaysia

Table 19: Reduced Energy Use in Green Buildings Compared with Conventional Buildings

Table 20: Different Stages of Green Building Activity across Firms in Australia, 2012

Table 21: Projected Business Benefits of Green Building in Australia

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Table 22: Different Stages of Green Building Activity across Firms in the US, 2012

Table 23: Projected Business Benefits of Green Buildings in the US

Table 24: Different Stages of Green Building Activity across Firms in the UK, 2012

Table 25: Projected Business Benefits of Green Buildings in the UK

Table 26: Different Stages of Green Building Activity across Firms in Singapore, 2012

Table 27: Projected Business Benefits of Green Buildings in Asia

Table 28: Cause and Effect Relationship between Industry Factors and Expected Malaysia Green Building Market Prospects

Table 29: Competitive Landscape of Major Players in Malaysia Green Building Materials Market

Table 30: Inbound Tourist Receipts in Malaysia in RM Million, 2009-2018

Table 31: Correlation Matrix of Malaysia Green Buildings Industry

Table 32: Regression Coefficients Output of Malaysia Green Buildings Industry

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MALAYSIA GREEN BUILDING INDUSTRY: KEY DRIVERS

The initiatives to protect the environment and promote sustainable development such as the Kyoto Protocol, which seeks to address global warming by sending targets to reduce greenhouse gas emissions for participating countries, are ongoing efforts to manage depleting natural resources and the environment in a sustainable manner…

Malaysia’s dependence on non renewable source of energy is increasing with the rising population and urbanization in the country. In 2012, the total installed generation capacity was nearly 26.4 GW. The Malaysian government anticipates that an additional 10.8 GW will come online by 2020 in order to meet the growing demand for electricity in the nation. The government’s consistent efforts are concentrated in meeting this demand through a balanced portfolio of electricity generation using more of renewable sources of energy such as solar, wind, biomass and others and reducing the dependence on coal and natural gas…

GOVERNMENT INITIATIVES FOR GREEN TECHNOLOGY IN MALAYSIA

Malaysia has launched an initiative to adopt Energy Efficient designs in the construction projects across the country with an endeavor to restrict the non-productive patterns of energy consumption and minimize the negative impact of energy production to the environment. These included various campaigns, government provision of incentives and publication of different journals to raise awareness and encourage developers and contractors to undertake construction projects by adhering to an energy efficient design….

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INCREASING AWARENESS ABOUT GREEN BUILDINGS

…as a developing country, construction industry plays a pivotal role in its economic development. This sector is contributing nearly 3-5% to Malaysia’s GDP for the past two decades. However, this industry suffers from weaknesses in terms of productivity, quality, safety, technology and unproductive practices. Presently, the country is striving for ecology sustainability. The issue of sustainable development was one of the important issues in the 8th Malaysian Plan (2001-2005). As a part of this plan, the Malaysian Government laid emphasis on R&D as one of their core strategy to promote sustainable development in the country….

CONSTRUCTION SPENDING IN MALAYSIA, 2012

…the Malaysian Construction spending is divided into: General construction, which embraces residential construction, non residential construction and infrastructure spending. The construction industry is a substantial economic driver of the country. The sector contributed nearly 3% to the GDP of Malaysia as recorded in 2013. The construction spending in Malaysian economy in 2012 was USD ~ billion as compared to other Asian countries such as China where the spending was recorded to be the highest at USD ~ billion. Japan and India stood neck to neck in terms of the spending on construction in 2012.

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Figure: Spending on Construction Sector in Asia by Geographies in USD Billion, 2012

Increased civil engineering and non residential projects, the speedy implementation of construction projects under 9th Malaysian Plan and the stimulus packages by the Government increased the value of this industry in 2010. Presently, this industry is facing shortage of skilled labour which is hampering the growth of the industry...

Table: Malaysia Construction Spending by Non-Residential, Residential Sector and Infrastructure in USD Billion, 2012 and Expected Growth Prospects (2013-2018)

Particulars Spending in 2012( USD Billion)

% of total Spending in 2012

Expected Growth Prospects(2013-2018)

Non-Residential Sector

Residential Sector

Infrastructure

Total

0.0

200.0

400.0

600.0

800.0

1,000.0

1,200.0

1,400.0

USD

Bill

ion

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MALAYSIA GREEN BUILDINGS MARKET SIZE, 2008-2013

BY NUMBER OF CERTIFIED GREEN BUILDINGS, 2009-2013

…GBI Malaysia is intended to encourage sustainability in building construction environment and raise awareness amongst the construction players such as developers, architects, and engineers. Buildings are awarded GBI Malaysia rating based on six characteristics.

Table 1: Malaysia GBI rating criteria

GBI criteria Points Awarded Particulars

•

•

•

•

•

•

Source: Ken Research

Meeting the above criteria implies that the building is sustainable compared to conventional buildings. The assessment process involves an assessment at design stage (Design Assessment) leading to the award of provisional GBI rating. Final award is given one year after the building is occupied (Completion and Verification Assessment). A total of 550 buildings applied for GBI certifications in Malaysia until 15th March, 2014 out of which 512 were registered as compared to 422 buildings which applied for GBI certification in the country as of March 2013.

The number of registered projects with GBI to attain a green certification in Malaysia was 55 in 2009 which rose to 124 in 2013. The number of GBI certified projects escalated by 61.9% in 2012 and 29.4% in 2013. The total number of GBI certified buildings in the country rose to 88 in 2013 from 15 in 2010, which clearly indicates the level of acceptance by the property market.

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Figure: Number of Registered and Certified Green Buildings in Malaysia, 2009- 2013

BY GROSS FLOOR AREA, 2013-2014

Malaysia is one of the rapidly growing countries in terms of greening its buildings. The increase in number of GBI Certified buildings in Malaysia has led to an increase in total certified green space in the country. Increased awareness about the need for sustainable development, government initiatives and various green policies have led to a significant increase in total certified green space in Malaysia in the recent years. The gross floor area is further expected to increase owing to enhanced interest of construction players in green building industry and augmenting tax incentives of going green. As of August 2012, only ~ square meters of gross floor area in Malaysia was GBI certified and represented only 25% of the total projects registered since 2009.

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

2009 2010 2011 2012 2013

Num

ber

of

Bui

ldin

gs

Registered Projects GBI Certified Projects

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Figure: Gross Floor Area of GBI Certified Buildings in Malaysia in Square Meters, 2013-2014

Non- residential new constructions occupied the largest gross floor area in Malaysia capturing area of ~ square meters as on March 2013 which rose to ~ square meters by March 2014. This was closely followed by residential new constructions which made a contribution of nearly ~% and ~% in 2013 and 2014 of the total green floor area in the country, respectively…

Table: Gross Floor Area of GBI Certified Buildings in Malaysia by Categories on the Basis of Contribution in Percentage (%), 2013-2014

Categories % share in Gross Floor Area

in Square Meters( as on March 2013)

% share in Gross Floor Area in Square Meters( as on March

2014)

Non-Residential new Construction( NRNC )

Residential New Construction(RNC)

Industrial New Construction(INC)

Non Residential Existing Buildings (NREB)

Industrial Existing Building(IEB)

Total 100% 100%

Source: Ken Research

0.0

10,00,000.0

20,00,000.0

30,00,000.0

40,00,000.0

50,00,000.0

60,00,000.0

70,00,000.0

80,00,000.0

90,00,000.0

100,00,000.0

2013 2014

Squa

re M

eter

s

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Table: Gross Floor Area of GBI Certified Buildings in Square Meters, 2013-2014

Categories Gross Floor Area in Square Meters( as on March 2013)

Gross Floor Area in Square Meters( as on March 2014)

Non-Residential new Construction( NRNC )

Residential New Construction(RNC)

Industrial New Construction(INC)

Non Residential Existing Buildings (NREB)

Industrial Existing Building(IEB)

Total

MALAYSIA GREEN BUILDING MARKET SEGMENTATION

BY TYPES OF GREEN BUILDINGS, 2013-2014

…there were a total of ~ GBI Certified buildings in Malaysia out of which majority were from the non-residential sector (103) as recorded till March, 2014, accounting for ~% share of the total certified projects, followed by ~residential new constructions( capturing 45.3% of the share) in 2014. ~ non residential existing buildings, ~ townships and ~ industrial new constructions were also certified green as of March, 2014, holding very small percentage share of ~%, ~% and ~% respectively.

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Table: GBI Certified Projects in Malaysia by Categories, as of 15th March, 2014

Update on Green Building Index

Total ( as of 15th

March, 2014)

Non-Residential

new Construction( NRNC )

Residential New

Construction(RNC)

Industrial New

Construction(INC)

Non Residential

Existing Buildings (NREB)

Industrial Existing

Building(IEB)

Townships

Applied

Registered

Total Certified

Table: GBI Certified Projects in Malaysia by Categories, as of 15th March, 2013


Total ( as of 15th

March, 2013)

Non-Residentia

l new Constructi

on( NRNC )

Residential New

Construction(RNC)

Industrial New

Construction(INC)

Non Residential


Industrial Existing

Building(IEB)

Townships

Applied Registered Total Certified Received with Provisional Certification after DA Received Final Certification after CVA

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BY RATINGS, 2013-2014

…certified Buildings accounted for a major share of more than 50% in the total number of GBI certified buildings in Malaysia in 2014 as compared to ~% in 2013.

Figure: GBI Certified Buildings in Malaysia by Ratings in Percentage (%), 2013-2014

Table: GBI Certified Projects in Malaysia by Ratings, as of 15th March, 2014


Total ( as of 15th

March, 2014)

Non-Residentia

l new Constructi

on( NRNC )

Residential New

Construction(RNC)

Industrial New

Construction(INC)

Non Residential


Industrial Existing

Building(IEB)

Townships

Platinum

Gold

Silver

Certified

Total Certified

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

2013 2014

Perc

enta

ge(%

)

Certified Gold Silver Platinum

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BY CERTIFIED AND REGISTERED BUILDINGS BY STATES, 2013-2014

…Singapore’s Green rating tool – Green Mark is a tool for bringing in business and branding for the country but Malaysia GBI is only a tool to promote green building and sustainable development in the country. As a result, the growth of this industry has been sluggish. At present, Kuala Lumpur has the highest number of GBI certified at projects, totaling ~, closely followed by Selangor...

Table: Number of Registered and GBI Certified Projects by State / Territory in Malaysia, 2013 and 2014

Name of the State/Territory



2013 2014

Kuala Lumpur

Selangor

Penang

Putrajaya

Johor

Melaka

Sarawak

Sabah

Perak

Pahang

Negeri Sembilan

Kelantan

Kedah

Perlis

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ANALYSIS OF KEY DEVELOPMENTS IN GREEN BUILDINGS INDUSTRY IN MALAYSIA

ACCELERATING GREEN BUILDING PROJECTS IN MALAYSIA

The country’s construction industry is currently booming at a CAGR of 6% over the years 2008-2013 and is shifting market preferences towards sustainable architectural designs. The energy demand of buildings in Malaysia has helped increase energy consumption by many folds. Green buildings are no longer a niche part of construction sector in Malaysia. It has become a way in which ever-increasing number of firms are designing, constructing and improving buildings….

Table: Percentage of Firms (real estate companies, factories, offices and others) which are presently in 3 different stages of Green Development in Malaysia

Stages of Adoption View

Exploration Stage( % of firms which have not adopted sustainable development until now)

Moderate Adoption Stage( % of firms which have adopted green architecture but not at a large scale)

High Green Activity Stage( % of firms that have nearly 60% or more green architecture)

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TRIGGERS DRIVING GREEN BUILDING ACTIVITIES IN MALAYSIA

There are numerous dynamics driving the growth and development of green building activity in Malaysia. In order to promote the development of green architecture in the country, professionals need to take these factors into consideration and tailor conversations appropriately…

In the future lower operating costs will gain more prominence as the energy subsidy continues to be reduced. Internal corporate commitments, environmental regulations, market transformation, higher building values, global competitiveness and local competition are some of the other triggers for green building activities in Malaysia….

Figure: Top Three Triggers Driving Future Green Building Activities in Malaysia by Importance in Percentage (%), 2013

FACTORS INFLUENCING THE FORMULATION OF GREEN POLICIES IN MALAYSIA

Government initiatives and regulations play a pivotal role in driving the adoption of sustainable building architecture in Malaysia. The government of Malaysia has taken many initiatives, for instance, Income Tax exemption for GBI certified buildings to promote sustainable development building construction in the country.

Table 2: Key Factors Influencing the Formulation of Green Policies in Malaysia

Factors View

Energy-Efficient Targets

Mandated Green Building Certification for Government Buildings

Market Demand

Lower Operating Costs

Right Thing to Do

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Mandatory Energy Performance Reporting

Green requirements for New Homes

Water Efficiency Targets

Incentives (Tax Credits)

Mandated Green Building Certification for Non Government Buildings (example, in offices, schools )

MALAYSIA GREEN BUILDING INDUSTRY FUTURE OUTLOOK AND PROJECTIONS, 2014-2018

Malaysia ranks amongst the rapidly growing economies in the world. The country has gained massive traction in the fields of global tourism and construction in the recent years. Increasing urbanization has been witnessed in Malaysia over the years with approximately 73.3% of the population residing in urban areas as of 2012. Increasing demand of low and medium-sized houses from this set of population has historically been encouraging the growth of construction sector in the country. With growing number of people migrating to the urban areas supported by rising disposable incomes and rising standards of living, the market for green buildings is expected to surge. Rising energy costs and depleting natural resources in the country have been the prime reasons for driving the construction industry in Malaysia towards sustainable development….

It is projected that by year end March 2015, the total number of GBI certified buildings in Malaysia will rise to ~as compared to ~ registrations received. By the year ending March 2019, the total number of GBI certified buildings will incline to ~, thus recording a CAGR of 19.2% from 2014-2019.

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Figure: Malaysia Green Building Industry Future Projections by Buildings Registration and Certifications, 2015-2019

0

50

100

150

200

250

300

2015 2016 2017 2018 2019

Num

ber

Registrations Certifications

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MALAYSIA GREEN BUILDING MATERIAL MARKET

MALAYSIA GREEN BUILDING MATERIAL MARKET SIZE BY REVENUE, 2008-2013

The green materials industry in Malaysia registered revenues of USD ~ million in 2013, rising from USD ~ in 2010. The increasing demand for green materials has led to a rise in the market revenue in the recent years….The green materials market came to the limelight with the introduction of GBI in May 2009. The market recorded slow growth rates in the initial two years but with increase in the number of GBI certified projects, the use and demand for green materials significantly increased in the country….

Figure: Malaysia Green Building Material Market Size by Revenue in USD Million, 2010-2013

0.0

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

1,000.0

2010 2011 2012 2013

USD

Mill

ion

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MALAYSIA GREEN BUILDING MATERIAL MARKET SEGMENTATION

BY END USERS, 2013

…green roofs are highly popular in Malaysia as they are made from eco-friendly materials such as membranes, soil and others. Demand for volatile organic compound free paints, glues and carpet tiles with recycled content is increasing in the green materials market for interior finishing….

Industrial sector was the largest sector using green building materials, with a share of ~%, and is expected to remain the highest consumer of green building material in the country in the future. Residential sector and Commercial sector employed nearly ~% and ~% of the aggregate green materials used in the country in 2013…

Table 3: Green Building Materials Market Segmentation by End Users on the Basis of Revenue Contribution in Percentage (%), 2013

Particulars % share in 2013

Industrial/Manufacturing Sector

Residential Sector

Commercial Sector( Offices, Hotels, Education and others)

Total 100%

Note: Others include education sector, healthcare sector and others.

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