Date: 24 June 2022 (Friday)
Time: 10:00am– 12:00pm
Mode: Online
Venue: Zoom Webinar
Speaker: Mr Daniel Yap of Keysight Technologies
CPD Hours: 2
Ref. No.: IEM22/SWAK/124/T (w)
Event synopsis:
Payment disputes in the construction industry have become a common problem in Malaysia and in most countries, especially
in developing countries. About 50% of Malaysia construction projects experience Under Payment, Late Payment and/or Non-
Payment issues which causes complication to the projects to the extent that some of the projects are abandoned wherein
innocent third-party purchasers become victims of delayed and abandoned projects.
One of the main elements for the complication is the client’s inadequate finance or main contractor’s poor cash flows for the
project. The amount of money involved in construction industry is enormous and when payments from the clients are
delayed, most of the contractors/sub-contractor would not be able to bear the heavy day to day construction expenses by
themselves which includes the cost of material, labour and other necessary day to day expenses. The issue of payment
dispute would eventually result in time over-run, cost over-run and total abandonment of the project.
Therefore, the construction payment dispute requires to be dealt with at worst, a cheaper, quicker, simpler, legal binding and
enforceable resolution enabled by an adjudication proceeding, which is what The Construction Industry Payment and
Adjudication Act (CIPAA) has specially drafted to resolve the issues with provisions such as PROHIBITION of Conditional
Payment, to STREAMLINE payment procedures and provide REMEDIES for the recovery of payment.
The Construction Industry Payment and Adjudication Act (CIPAA) 2012 has come into operation with effect since 15 April
2014. The talk will cover the definition and key features of CIPAA, construction culture and payment risks, as well as the
adjudication process under CIPAA. In addition, identification of construction payment problems, their impact and resolution
and how to conduct payment recovery through CIPAA proceeding will also be discussed during the talk.
The Internet of Things (IoT) has expanded in recent years, transforming our lives and the way we interact with our surroundings. It is connecting the universe and transforming physical objects around us into an ecosystem of information. While the consumer market continues to thrive with the emergence of wearable technology, and smart appliances and smart assistants in smart homes, market analysis has forecasted one of the top spend on IoT solutions will be in manufacturing. Dubbed the Industrial Internet of Things (IIoT), this focus of IoT in a manufacturing setting promises to radically transform the three fundamental pillars of the manufacturing process. The presentation will also covers Keysight 5C + 1C of IoT, which the key enabler for a successful IoT ecosystems innovation.
Fees:
Payment disputes in the construction industry have become a common problem in Malaysia and in most countries, especially
in developing countries. About 50% of Malaysia construction projects experience Under Payment, Late Payment and/or Non-
Payment issues which causes complication to the projects to the extent that some of the projects are abandoned wherein
innocent third-party purchasers become victims of delayed and abandoned projects.
One of the main elements for the complication is the client’s inadequate finance or main contractor’s poor cash flows for the
project. The amount of money involved in construction industry is enormous and when payments from the clients are
delayed, most of the contractors/sub-contractor would not be able to bear the heavy day to day construction expenses by
themselves which includes the cost of material, labour and other necessary day to day expenses. The issue of payment
dispute would eventually result in time over-run, cost over-run and total abandonment of the project.
Therefore, the construction payment dispute requires to be dealt with at worst, a cheaper, quicker, simpler, legal binding and
enforceable resolution enabled by an adjudication proceeding, which is what The Construction Industry Payment and
Adjudication Act (CIPAA) has specially drafted to resolve the issues with provisions such as PROHIBITION of Conditional
Payment, to STREAMLINE payment procedures and provide REMEDIES for the recovery of payment.
The Construction Industry Payment and Adjudication Act (CIPAA) 2012 has come into operation with effect since 15 April
2014. The talk will cover the definition and key features of CIPAA, construction culture and payment risks, as well as the
adjudication process under CIPAA. In addition, identification of construction payment problems, their impact and resolution
and how to conduct payment recovery through CIPAA proceeding will also be discussed during the talk.
IEM MEMBER: RM 20.00
NON-IEM MEMBER: RM 40.00
All payables shall be made to:
Bank: Standard Chartered Bank Malaysia
Account Name: The Institution of Engineers Malaysia
Account No.: 420-1-5651-8528
Registration:
Click here to register:
*Please refer to the Flyer for further details.
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