Focus Jadeline was established in 1999 when Malaysia was hit by the Malaysian economic crisis of 1998. Our fortnightly report - Data Infocus Construction Watch - that reports on Malaysia's construction projects was a big hit for building material suppliers since the beginning. (Data InFocus is now known as mybina.com.my when we went digital online 10 years later). Though not without competitors, our construction reports remain the best value for our customers' money.
Construction Market Intelligence
Focus Jadeline Sdn Bhd publishes fortnightly reports on construction projects in Malaysia. The reports, mybina.com.my Construction Watch, identify the players within construction developments. Not only do the reports prove to be invaluable to building material suppliers, but the reports also help the developers and building consultants gain better insight and understanding of the industry players. Not to mention more competitive pricing for building materials, which means cost-saving and exposure for their clients.
When we started the company in 1999, the economy was still in a bad shape. You can say that we are a by-product of Malaysia's 1997/1998 economic crisis.
Back then, companies had to tighten their belts in order to survive. Salaries were cut, working days shortened, retrenchment was the order of the day. The construction industry was in a doldrum.
Every cloud has a silver lining - in the middle of all the turmoil, Focus Jadeline Sdn Bhd came into being.
You see, back then, construction projects slowed down. Most of the players in the construction industry were complaining about the lack of projects to go around. So Focus Jadeline was established to seek out those developments and compile the information in hardcopies.
Now ten years later, the cycle seems to be repeating itself. Still, we are relevant as we were before. A big number of our customers have been with us since we started nine years ago. We have public listed companies down to one-man shows subscribing to our reports. We would like to thank them for their support throughout the years, without them we would not be here today. To our supporters, God willing, we will ride out the 2008 storm together.
And we are happy doing what we do, because we know we help the construction industry by providing valuable information for the sector, and help its growth.
What do you think of the construction industry?
It's a cycle. Right now, maybe Malaysia's economy is heading towards the bottom of its business cycle. It will definitely go up again.
Twenty years ago, the global stock market crash in 1987 was partly attributed to over-inflated prices generated by a speculative bubble.
Ten years ago, in 1997, Malaysia's currency got a big hit, and tumbled from above RM2.50 to under 3.80 to the dollar, due to, some said, speculation and an overheating economy.
In 1998, the output of the real economy declined, plunging the country into its first recession for many years. The construction sector contracted 23.5%, manufacturing shrunk 9%, and the agriculture sector 5.9%. Overall, the country's gross domestic product plunged 6.2% in 1998. During that year, the ringgit plunged below 4.7 and the KLSE fell below 270 points.
In contrast, in the year 2008, things appeared to slow down, the growth figure in the second half of the year was being dampened by the higher prices of commodities and fuel. There was no doubt that the rising petrol prices had a big impact on the overall property market, which was going through a tough time.
And if we look at the 10-year cycle, we are looking at the coming of another recession with the year 2018. What is worrying this time around is the fear of a property market crash. Some property experts opined that a market crash could potentially happen as consumers do not have the financial capacity to own homes, and could not even afford to pay their monthly installments.
Still, historically, Malaysia always survived any crisis 'thrown' at her. Yes, the cycle will go up soon enough. It is just a matter of time before market correction takes place. Either way, all problems have their solutions, as long as we keep focusing positively on the future.
Where do you see Focus Jadeline Sdn Bhd and mybina.com in 10 years time.
Hopefully, not in another economic 'crisis' - ha-ha.
In 10 years time, we hope to be a global player, but more importantly, mybina.com.my will be solidly part of Malaysia's construction industry flourishing landscape. Focus Jadeline is after all a 100 percent Malaysian company.