| Summary: | China Railway Construction Group Co., Ltd. (CRCG) win the bid of the Four Seasons Hotel project,
which is located in Kuala Lumpur City Centre, Malaysia in 2015. It is a residential and commercial
mixed building, adjacent to the Petronas Twin Towers in Kuala Lumpur, with a building height of 342.5
meters and a total of 77 floors. It is the third highest building in Malaysia and the third highest five-star
hotel in the world by then. It has 236 rooms, high-end apartments and 30000 square meters of shopping
malls. The hotel is managed by Four Seasons Hotels Group and is the second Four Seasons Hotel in
Malaysia, which opened in November 2018.
The Coral Bay project in Kota Kinabalu Sabah held a capping ceremony on June 1, 2023. At the capping
ceremony, Ma Zhanjiang, the Managing director of CRCG (M) SDN BHD (CRCGM), recalled that as
early as 2015, there were very few Chinese construction companies entering the Malaysian market.
With the advantages of construction speed and quality, the company's profits were relatively
considerable. As time goes by, more Chinese construction companies are entering the Malaysian
market, providing similar products and services. This has led to fierce competition among companies.
To succeed in bidding, companies need to constantly concede profits, and the ultimate result of price
wars is that the profits of the construction industry are compressed to the limit. In 2020, the global
epidemic broke out, the economic environment deteriorated rapidly, and the construction market was
also severely impacted. In addition, the Russo-Ukrainian War led to the rise of commodity prices. Many
construction enterprises failed to bear the impact of the overall environment due to their low profits,
and many of them defaulted, sued, or even went bankrupt. CRCGM has basically not improved in
market development in the past three years.
However, in 2023, as the political situation in Malaysia stabilized, the epidemic also basically came to
an end. How can CRCGM refine its marketing approach in Malaysia's dynamic landscape to ensure
robust, quality-driven expansion amidst emerging opportunities?
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