Kuala Lumpur, 29 June 2021 – Proficient, Malaysia’s first end-to-end construction project management platform, announces its successful seed funding of MYR1 million 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 software allows developers to digitally manage communications, documents and all aspects of field operations including timeline, progress and requirements. Its accessibility and transparency can mitigate construction delays and budget overruns, while providing a complete purview to key stakeholders, contractors and project managers.
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 AI capabilities. The fund will also be channelled towards talent recruitment for its current core team.
“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. 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. With Proficient, we aspire to encapsulate and transform every aspect of construction project management,” said Jitin Girdhar, CEO of Proficient.
“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. 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 a global presence. 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” said SM Faliq SM Nasimuddin, Founder of Falnas Capital.
As one of the most active markets in Southeast Asia, Malaysia’s construction industry is poised for an annual growth rate of 6.5 per cent 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.
With its comprehensive solutions, the 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, it seeks to transform the current construction management model into a more efficient and innovation-driven one.
– Construction+ Online
Source: Data & Storage Asean