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Journal of Southeast Asian Research

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Vol. 2012 2012!" Article #$ %&'()'" 12 pages
$*#: 10.'1&1/2012.%&'()'

Copyright 2012 Zarabizan Zakaria, Syuhaida Ismail and Aminah Md. uso!. "his is an op#n a$$#ss arti$l#
distribut#d und#r th# Cr#ati%# Commons Attribution &i$#ns# unport#d '.0, (hi$h p#rmits unr#stri$t#d us#,
distribution, and r#produ$tion in any m#dium, pro%id#d that original (ork is prop#rly $it#d. Conta$t author)
Zarabizan Zakaria *+mail) zarabizan2,li%#.utm.my

Cause and Impact of Dispute and Delay the
Closing of Final Account in Malaysia
Construction Industry

Zarabizan Zakaria
1
, Syuhaida Ismail
1
and Aminah Md. Yusof
2


1
RAZAK School of Engineering and Advanced Technology, University of Technology Malaysia,
Kuala Lumur, Malaysia

!
"aculty of #ivil Engineering, University of Technology Malaysia, Malaysia
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Abstract

Constru$tion industry is r#alizing th# plans and sp#$i!i$ations !or th# physi$al stru$tur#. "h#
pro-#$t is su$$#ss (h#n it is $ompl#t#d to m##t $ustom#r n##ds (ithout any issu#s and probl#ms in
t#rms o! tim#, .uality and budg#t allo$ation. "h# budg#t allo$ation is important #sp#$ially to g#t th#
total !inal $ost o! th# pro-#$t that (ill b# add#d in th# !inal a$$ounts. /inal a$$ount is th# !a$t that
th# sum agr##d to b# paid at th# #nd o! th# $ontra$t by th# o(n#r to th# $ontra$tor. Mor#o%#r, th#
!inal a$$ount issu# has #0ist#d in Malaysia $onstru$tion industry !or s#%#ral d#$ad#s in (hi$h th#
important !a$tors signi!i$antly a!!#$t th# $losing o! !inal a$$ount that r#lat#d (ith $ontra$tor,
manag#m#nt and th# $ontra$t as (#ll. Su$$#ss!ul $losing is $at#goriz#d as r#sol%#d at th# stipulat#d
tim# (ithout any probl#ms in th# disput# and d#lay. "h#r#!or#, th# purpos# o! this pap#r is to
in%#stigat# th# important !a$tors that $ontribut# to th# $losing o! !inal a$$ount in $onstru$tion
pro-#$ts in Malaysia. "his aim $an b# a$hi#%#d through th# ob-#$ti%#s o! #%aluating th# $ontra$t in
Malaysia to $ompar# th# !inal $losur# o! %arious !orms o! $ontra$t and !inally id#nti!y th# $aus#s
and #!!#$ts o! th# disput# and d#lays in th# !inal a$$ount $losing. As a r#sult, this pap#r $an assist
$onstru$tion industry play#rs to $r#at# mor# #!!#$ti%# planning and b# us#d as guid#lin#s in
#nsuring th# on+tim# $losing o! !inal a$$ount in $onstru$tions pro-#$ts in Malaysia.

Keywords) 1isput#, d#lay, $losing o! !inal a$$ount, Malaysia $onstru$tion industry.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Introduction

"h# building and $onstru$tion industry
#n$ompass#s housing, $omm#r$ial, and
in!rastru$tur# d#%#lopm#nt. &o( 213345
argu#s that th# $onstru$tion industry has a
dir#$t b#aring on th# national #$onomy and
$ons#.u#ntly, $an b# us#d as an indi$ator o!
#$onomi$ (#ll+b#ing !or a $ountry. "hus, th#
#!!#$t o! $onstru$tion on th# #$onomy
through th# produ$tion pro$#ss and through
th# #!!#$ts o! $r#dit $onstraint $an b# as
important as th# #!!#$t o! th# #$onomy on th#
$onstru$tion s#$tor 2"s#, 13365. "his is
b#$aus# th# $onstru$tion s#$tor $ompris#s
%arious !i#lds in$luding ar$hit#$tur#, $i%il
#ngin##ring, m#$hani$al #ngin##ring,
#l#$tri$al #ngin##ring, .uantity sur%#ying,
land sur%#ying, building $ontra$ting,
and lands$aping, among oth#rs 2Cho(,
133'5. "h# $onsultant and $ontra$tor ar#
dra(n tog#th#r by a $ommon purpos# to
build a building pro-#$t !or a p#rson or an
organization $all#d th# $li#nt 27osli, 13885.
9n$# a pro-#$t is $ompl#t#d and hand#d o%#r
to th# $li#nt, th#ir (ork #nds th#r#.

:ournal o! South#ast Asian 7#s#ar$h 2

"h#r#!or#, it is undoubt#d that $onstru$tion
industry plays an important rol# in
g#n#rating (#alth and impro%ing th# .uality
o! li!# through th# translation o!
go%#rnm#nt;s so$ial+#$onomi$ poli$i#s into
so$ial and #$onomi$ in!rastru$tur#s and
buildings. /or this r#ason, a sum o! 7M2'0
billion has b##n allo$at#d !or d#%#lopm#nt
und#r th# 10
th
<lan !rom Malaysia
go%#rnm#nts 2*<=, 20105. /urth#rmor#, th#
$onstru$tion industry $r#at#s a multipli#r
#!!#$t to oth#r industri#s, in$luding
manu!a$turing, !inan$ial s#r%i$#s and
pro!#ssional s#r%i$#s. >o(#%#r at th# sam#
tim#, th#r# is a lot o! probl#ms !a$#d by
Malaysia $onstru$tion industry, (hi$h (ill
#!!#$t to th# produ$ti%ity o! $onstru$tion
industry in t#rms o! manpo(#r, .uality o!
produ$ti%ity, tim# and paym#nt issu#
#sp#$ially during th# $losing o! !inal a$$ounts
in $onstru$tion pro-#$ts. ?#%#rth#l#ss, as
%arious #!!orts ha%# b##n tak#n by th#
@o%#rnm#nt in sustaining Malaysia
$onstru$tion industry to #nsur# its supports
to oth#r industri#s, th# Malaysian #$onomy
gr#( by 4.6A 2/2010) B.4A5 on gro(th in
pri%at# $onsumption and sustain#d robust
#0pansion in gross !i0#d $apital !ormation
amid th# $onsolidation in @o%#rnm#nt
outlays and mod#rat# #0t#rnal trad# gro(th
2Maybank, 20115.

A$$ording to th# r#$ords pro%id#d by
Constru$tion Industry 1#%#lopm#nt Coard
Malaysia 2CI1C5 220125, th# total numb#r o!
pro-#$ts until Mar$h 2012 is DBB (ith %alu# o!
7M 3,'33.03 million. "h#pro-#$t (asa(ard#d to
lo$al $ontra$tors is DB2 (ith a total %alu# 7M
3,103.B' million and !or#ign $ontra$tors is '
(ith a total %alu# is 7M 283.BD million. "h#
numb#r o! pri%at# pro-#$ts g#n#rally #0$##ds
th# numb#r o! go%#rnm#nt pro-#$ts,
r#gardl#ss th# status o! $ontra$tor.

>a%ing $on!#rr#d th# $onstru$tion industry
in g#n#ral, $onstru$tion pro-#$ts $onsist o!
!our stag#s, nam#ly d#signEplanning stag#,
t#nd#r stag#, $onstru$tion stag# and !inal
a$$ountEd#!#$t liability stag# or b#ing
r#!#rr#d to as post+$ontra$t. "h# rol# and
p#r!orman$# o! %arious pro-#$t parti$ipants
and $ontra$ting parti#s in a $onstru$tion
pro-#$t in #a$h stag# $an in!lu#n$# th#
pro-#$t su$$#ss. <ost $ontra$t is th# pro$#ss
to summaris# all progr#ss o! (orks and
#%aluat# all %ariations and pr#par# th# !inal
a$$ount. In pra$ti$#, th# $losing !inal a$$ount
should b# $ompl#t#d a!t#r th# #0piry o!
d#!#$t liability p#riod. In basi$ t#rms, !inal
a$$ount in $onstru$tion $ontra$ts is d#!in#d
as th# agr##d stat#m#nt o! th# amount o!
mon#y to b# paid at th# #nd o! a pro-#$t
$ontra$t by th# o(n#r to th# $ontra$tor.

Fh#n un!or#s##n situations o$$ur on sit#, it
is important to !irst und#rstand th# situation
and $om# up (ith suitabl# solutions and
!or#$ast th# probl#mati$ $ons#.u#n$#s. "h#
timing o! paym#nts is said to b# a k#y
#l#m#nt o! a $ontra$tor;s pro!itability
p#r!orman$# 2Stris$h#k, 133B5.It (ill bring
in$on%#ni#n$#s to all th# parti#s in%ol%#d in
th# $onstru$tion industry, mainly th# $li#nt,
$onsultants and th# most important, th#
$ontra$tors. 9n th# oth#r hand, it also brings
in$on%#ni#n$# to th# #nd us#r b#$aus# th#
!inal a$$ounts r#main#d unr#sol%#d a!t#r th#
building is o$$upi#d. "his is support#d by
9d#yinka and Gaka 2200B5 through th#ir
sur%#ys on th# impa$t o! th# paym#nt t#rms
o! $ash !lo( (hi$h !ound that $ontra$tors
(#r# dissatis!i#d (ith th# tim# lag to
r#$#i%ing paym#nt.

>o(#%#r, #!!#$ti%# manag#m#nt $an assist in
#nsuring that paym#nts ar# mad# to th#
r#lat#d parti#s in a$$ordan$# (ith th# prop#r
amount (ithin th# sp#$i!i#d tim# and also
s#ttl#d (ithout any issu#s and probl#ms.
A$$ording to Ch#n and Ch#n 2200B5 (ho
r#port a sur%#y o! $ontra$tors on tim# lags,
and $ompon#nts and !r#.u#n$y o! paym#nts,
paym#nt $ondition patt#rns ar# s##n to di!!#r
b#t(##n th# publi$ s#$tor and th# pri%at#
s#$tor. Adams 220085, bas#d on sur%#ys,
#stablish#s sub-#$ti%# probabiliti#s on
paym#nt d#lays. =h#r 213315, >inz# and
"ra$#y 213345, C#nn#tt and /#rry 213305 and
Arditi and Chotibhongs 2200B5 not# th#
impa$t on sp#$ialist $ontra$tors o! paym#nt
tim# lags and lat# paym#nts. ?a%on 2133B5
on th# oth#r hand highlights th# $onn#$tion
% :ournal o! South#ast Asian 7#s#ar$h

b#t(##n (ork p#r!orman$# and paym#nt.
"h# disput# and d#lays in $onstru$tion
pro-#$t ar# th#r#!or# obs#r%#d by this pap#r
as among th# !a$tors a!!#$ting th# $losing o!
!inal a$$ounts in $onstru$tion pro-#$t.

Cas#d on this, som# strat#gi#s ar# n##d#d to
anti$ipat# any probl#ms that may o$$ur !rom
th# planning stag#, so that th# on+sit# issu#
$an b# d#t#rmin#d and minimiz#d during th#
$losing o! !inal a$$ount. "h# l ogi$al
.u#stions at this point ar#) Fhy is it
n#$#ssary to link th# $aus#s and
#!!#$ts o! di sput# and d#lays and ho(
$an th# link h#lp th# pra$titi on#rs to
pr#%#nt or r#m#dy !utur# disput# and
d#laysH "h#r#!or#, all parti#s in%ol%#d
should $oop#rat# to assur# that th# disput#
and d#lays in $onstru$tion pro-#$t $an b#
#liminat#d in #nsuring th# $losing o! !inal
a$$ount $an b# r#sol%#d (ithout any
probl#ms.

Forms of Contract in Malaysia

A !orm o! $ontra$t is a l#gally binding
agr##m#nt b#t(##n th# parti#s id#nti!i#d in
th# agr##m#nt to !ul!il all th# t#rms and
$onditions outlin#d in th# agr##m#nt. A
pr#r#.uisit# r#.uir#m#nt !or th# #0#$ution o!
a $ontra$t, amongst oth#r things, is th#
$ondition that all th# parti#s to th# $ontra$t
a$$#pt th# t#rms o! th# $laim#d $ontra$t.
Constru$tion $ontra$ts ar# basi$ally di!!#r#nt
!rom ma-or s#r%i$# $ontra$ts. "h#r# ar#
%arious typ#s o! !orm o! $ontra$t us#d in
$onstru$tion industry in Malaysia. "h#
s#l#$tion !orms o! $ontra$t d#p#nd on th#
basis o! pri$ing and th# $ontra$t strat#gy that
b#st m##t th# pro-#$t ob-#$ti%#s. "h# %arious
typ#s o! $ontra$t o!!#r di!!#r#nt (ays o!
handling pri$ing, risk trans!#r, r#sponsibility
!or p#r!orman$#, $ost $#rtainty, and
$ompl#0ity. "h# pro$#ss o! building
pro$ur#m#nt in%ol%#s a s#ri#s o! di!!#r#nt
sp#$ialists or parti#s in $ontributing to th#
(ork at a di!!#r#nt tim#. It l#ads to th#
!ragm#ntation pro$#ss in $onstru$tion
industry 2Murdo$h, 20005. *a$h pro-#$t
parti$ipant has parti$ular aims and
ob-#$ti%#s and it is rar# to !ind $ontra$t
stru$tur#s that #n$ourag# harmony among
th#s# aims.

"hus, th# purpos# o! standard !orms o!
$ontra$t is to !a$ilitat# th# $ontra$tual
arrang#m#nts b#t(##n a$tors in a pro-#$t.
Standard !orms o! $ontra$t ar# r#adymad#
t#rms and $onditions (h#n th# $ontra$t is
$r#at#d 2G(aky#, 13365. "h# standards
!orms o! $ontra$t ar# %ary !rom $ountry to
$ountry and !rom on# typ# o! pro-#$t to
anoth#r pro-#$t. "h#s# standards ar#
g#n#rally us#d and a$$#pt#d by di!!#r#nt
$ontra$ting parti#s. Standard !orms o!
$ontra$ts ar# o!t#n $riti$iz#d as b#ing a
$ompromis# $ontaining som# d#!#$ti%#
asp#$ts. It (ould b# pra$ti$ally impossibl# to
d#%is# a standard !orm o! $ontra$t that
(ould tak# a$$ount o! all #%#ntualiti#s that
might o$$ur in a $onstru$tion pro-#$t
2And#rsson and @unnarsson, 20025.
>o(#%#r, th# ad%antag# o! th#ir adoptions is
that (ith th# passag# o! tim#, p#rsons using
th#m b#$om# !amiliar (ith th#ir o%#rall
$ont#nt as (#ll as th#ir parti$ular str#ngths
and (#akn#ss#s 2G(aky#, 13365.

In Malaysia, th#r# ar# s#%#ral standard !orms
o! $ontra$ts (hi$h ar# appli$abl# !or
$onstru$tion d#p#nding on th# $at#gori#s o!
(orks and typ#s o! $li#nts. Among th#
s#%#ral standard !orms o! $ontra$t in
Malaysia is th# <F1 /orms (hi$h ar#
$ompulsory !or go%#rnm#nt (orks. "h#r# ar#
t(o typ#s o! th# <F1 /orms, <F1 /orm
20'A 27#%. 10E8'5 2Standard /orm o!
Contra$t to b# us#d (h#r# Cills o! Iuantiti#s
!orm part o! th# Contra$t5 and <F1 20'
27#%. 10E8'5 2Standard /orm o! Contra$t to
b# us#d bas#d on 1ra(ings and
Sp#$i!i$ations (ithout Cills o! Iuantiti#s5. In
!a$t, <F1 !orm 20'A 27#%. 10E8'5 is us#d
mor# o!t#n than <F1 20' 27#%. 10E8'5 !orm
b#$aus# Cills o! Iuantiti#s ar# %#ry o!t#n
us#d in Malaysia. "h#r#!or#, <F1 20'A 27#%.
10E8'5 is tak#n as th# r#pr#s#ntati%#
standard !orm o! $ontra$t in Malaysia 2<F1,
20065. "h# <F1 !orms ar# appli#d !or all
pro-#$ts !und#d by th# Malaysian publi$
s#$tor.

:ournal o! South#ast Asian 7#s#ar$h 4

9n th# oth#r hands, th# <AM
2<#rtubuhanAkit#k Malaysia5 standard !orms
o! $ontra$t ha%# b##n (id#ly us#d by th#
lo$al building industry #sp#$ially !or pri%at#
pro-#$t in Malaysia 2<AM, 200D5. 9th#r !orm
o! $ontra$t us#d in Malaysia is
/JdJrationInt#rnational# d#s IngJni#urs+
Cons#ils 2/I1IC5, (hi$h is also r#!#rr#d to as
th# Int#rnational /#d#ration o! Consulting
*ngin##rs, produ$#s standard !orms o!
$ontra$t !or $i%il #ngin##ring $onstru$tion
(hi$h ar# us#d throughout th# (orld 2/I1IC,
13335. /I1IC $ontra$ts ar# o!t#n r#!#rr#d to
as th# int#rnational standard.

C#sid#s, th# Constru$tion Industry
1#%#lopm#nt Coard Malaysia 2CI1C5 has
produ$#d t(o standard !orms o! Contra$tK
th# CI1C Standard !orm o! Contra$t !or
Cuilding Forks 22000 *dition5 and th# CI1C
Standard /orm o! Sub+Contra$t !or
?ominat#d Sub+Contra$tor. "h# t(o !orms o!
$ontra$t do not app#ar to ha%# b##n (id#ly
adopt#d by th# $onstru$tion industry at this
tim#. 9th#r !orm o! $ontra$t in Malaysia is
I*M /orm o! Contra$t /or Ci%il *ngin##ring
Forks 2as it has no( b##n r#nam#d5, or
I*M.C* 2011. I*M Conditions o! Contra$t !or
Forks Mainly o! Ci%il *ngin##ring
Constru$tion (as !irst publish#d in May
1383. It (as mod#ll#d %#ry mu$h on <F1
20' /orm o! Contra$t and (as mu$h us#d in
pri%at# s#$tor+!inan$#d $i%il #ngin##ring
$onstru$tion (orks. It has b##n a littl# mor#
than t(o d#$ad#s sin$# it (as publish#d.
"h#r#!or#, th# s#l#$tion o! #a$h !orms o!
$ontra$t m#ntion#d abo%# d#p#nding on typ#
o! pro-#$t, o(n#rE$li#nts o! pro-#$t, natur# o!
a pro-#$t and !inan$ing in%ol%#d.

Comparisons of the Closing of Final
Accounts according to the Forms of
Contract

/orms o! $ontra$t to b# us#d should b#
und#rstood by all parti#s in%ol%#d in th#
$onstru$tion pro-#$ts to pr#%#nt any disput#s
or probl#ms in th# !utur#, #sp#$ially in th#
$losing o! !inal a$$ounts. Most o! th# standard
!orms o! $i%il #ngin##ring $ontra$t in
Malaysia $ontain pro%isions upon (hi$h th#
#ngin##rE.uantity sur%#yor is oblig#d to
s#ttl# th# !inal a$$ountand issu# a !inal
paym#nt $#rti!i$at# to th# $ontra$tor (ithin a
sp#$i!i#d p#riod o! tim# a!t#r r#$#ipt o! th#
$ontra$tor;s !inal a$$ount stat#m#nt.

In basi$ t#rms, a !inal a$$ount in $onstru$tion
$ontra$ts is th# agr##d stat#m#nt o! th#
amount o! mon#y to b# paid at th# #nd o! a
pro-#$t $ontra$t by th# #mploy#r to th#
$ontra$tor. A !inal a$$ount brings about a
s#ns# o! !inality to th# n#gotiations l#ading
up to th# agr##m#nt o! th# !inal a$$ount
b#t(##n th# parti#s to th# $ontra$t. In
$onstru$tion $ontra$ts, it is g#n#rally a
$ommon pra$ti$# !or #ith#r th# #mploy#r 2or
th# #mploy#r;s r#pr#s#ntati%#5 and th#
$ontra$tor to sign th# !inal a$$ount stat#m#nt
to signi!y that th# !inal a$$ount !igur#
r#pr#s#nts th# !ull and !inal s#ttl#m#nt o! all
$laims. "h# $losing o! !inal a$$ount
n#gotiations b#t(##n th# $ontra$tor and th#
ar$hit#$t, #ngin##r or .uantity sur%#yor on
b#hal! o! th# #mploy#r (ill in du# $ours#
trigg#r th# issu# o! th# !inal a$$ount
stat#m#nt and ultimat#ly, #nabl# th#
issuan$# o! th# !inal $#rti!i$at#. "h#
$omparison o! instru$tions !or th# $losing o!
!inal a$$ount as m#ntion#d in !orms o!
$ontra$t $ommonly us#d in Malaysia ar#
d#s$rib#d as th# !ollo(ing.

PWD Form 2!A "#e$%2&'( "h# $ontra$t
stat#s that th# Contra$tor shall submit !ull
parti$ulars $ompl#t# (ith supporting
do$um#nts (ithin but not than three "!'
months a!t#r th# issuan$# o! th# C#rti!i$at#
o! <ra$ti$al Compl#tion. "h# Sup#rint#nd#nt
9!!i$#r 2S.95 shall issu# th# /inal C#rti!i$at#
(ithin three "!' months a!t#r th# #0piry o!
th# 1#!#$t &iability <#riods !or th# (hol# o!
th# Forks or thr## 2'5 months a!t#r th# issu#
o! th# C#rti!i$at# o! Compl#tion o! Making
@ood 1#!#$ts 2Claus#'15 2<F1, 20065.

PAM Contract 2)( "h# $ontra$t stat#s that
th# Contra$tor shall s#nd to th# Ar$hit#$t and
Iuality Sur%#yor, all do$um#nt (ith
supporting o! th# dra!t !inal stat#m#nt (ithin
si* ")' months a!t#r <ra$ti$al Compl#tion o!
th# Forks 2Claus# '0.105 2<AM, 200D5.
& :ournal o! South#ast Asian 7#s#ar$h

FIDIC +st ,dition #,D -..K( "h# $ontra$t
stat#s that within /) days a!t#r r#$#i%ing th#
<#r!orman$# C#rti!i$ationK th# Contra$tor
shall submit th# dra!t o! !inal stat#m#nt (ith
supporting do$um#nts sho(ing in d#tail in a
!orm appro%#d by th# *ngin##r 2Claus#
14.115 2/I1IC, 13335.

In summary, th#r# ar# signi!i$ant di!!#r#n$#s
in th# !orms o! $ontra$t in t#rms o! tim#
!ram# !or th# $losing o! !inal a$$ounts in a
parti$ular pro-#$t. "h# !inal a$$ount is
$at#goriz#d as on+tim# i! it $an b# r#sol%#d
(ithin th# tim# p#riod sp#$i!i#d in th# !orms
o! $ontra$t. >o(#%#r, th# similarity b#t(##n
th# !orms o! $ontra$t is th# pro$#ss o!
submitting th# !inal paym#nt $laim a!t#r th#
C#rti!i$ation o! Making @ood 1#!#$t 2CM@15
or 1#!#$t &iability C#rti!i$at# 21&C5 (as
issu#d. #t, s##ing as th# d#lay is %#ry mu$h
a!!#$t#d by disput#s (ithin parti#s in
$onstru$tion pro-#$ts, it is #ss#ntial to
in%#stigat# th# $aus# o! th# probl#ms (hi$h
#%#ntually a!!#$t th# $losing o! !inal a$$ount.

Causes of Dispute and Delay in the Closing
of Final Accounts

"h# ma-or !a$tor l#ading to a pro-#$t;s
su$$#ss is th# pra$ti$# o! #!!i$i#nt and tim#ly
paym#nt in $onstru$tion pro-#$ts. "h# $aus#
o! th# probl#m to $losing th# !inal a$$ount is
b#$aus# disput# and d#lay. 1isput# o$$urs in
pro-#$t manag#m#nt is in#%itabl#, y#t disput#
is manag#abl#. It (ould #0ist (h#r# th#r# is
an in$ompatibility o! int#r#st 2/#nn, 13365
and th#r#!or#, th# manag#m#nt o! disput# is
to s#l#$t a disput# r#solution mod#, nam#ly
$on!ronting, $ompromising, smoothing,
!or$ing and a%oiding 2G#rzn#r, 200D5.

1isput# is d#!in#d as an ass#rtion o!
opposing %i#(s or $laims or a disagr##m#nt
as to rights 2M#rriam+F#bst#rLs 1i$tionary
o! &a(, 133D5. "h# $on!li$ts and disput# ar#
$o+r#lat#d (h#r# th# disput# o$$urs (h#n
th# $ontra$ting parti#s !ail#d to manag# th#
probl#ms and dissol%# th# $on!li$t.
Carmi$h#al 22000, 20025 also $laims that th#
$as# (h#r# $ontra$tor do#s not r#$#i%# th#
paym#nt as a $aus# o! #s$alat#d disput#s.
1isput# may b# r#sol%#d in a numb#r o! (ays
using %arious pro$##dings. It (ould not b#
tru# to say that all disput#s ar# r#sol%#d at
$ourt pro$##dings or oth#r !ormal or
in!ormal s#ttings o! alt#rnati%# disput#
r#solution m#thods. <ra$ti$ally, th#
$ontra$ting parti#s; $ontro%#rsy and
ad%#rsary (ould b# in$r#as#d tog#th#r (ith
th# $onsumption o! $ost and tim# on$# high#r
stag# o! disput# r#solution appli#d. "h#
disput#, i! not r#sol%#d ami$ably, $an l#ad to
arbitration or litigation. "h#y also
d#monstrat#d $onsist#n$y o! th# la( s#%#ral
$as#s b#$aus# o! n#glig#n$# to und#rstand
t#rm $ontra$t !or #0ampl# disput#s on
misund#rstanding 2"homas, 13325 and
disput#s on int#rpr#tation o! $laus#s
2"homas, 13345.

"h# issu# o! d#lay in paym#nt in $onstru$tion
industry is global ph#nom#non as it is among
th# most $ommonly o$$ur. In Malaysia, th#
impa$t o! this probl#m had $aus#d a massi%#
d#stru$tion to th# $ountry;s #$onomi$ and
this has tarnish#d th# good imag# o! th# lo$al
$onstru$tion industry. Fh#n paym#nts du#
und#r th# $ontra$t ar# d#lay#d or o! l#ss#r
%alu# than anti$ipat#d, th# $ontra$tor;s
!inan$ial position su!!#rs, and this in turn
may a!!#$t a pro-#$t p#r!orman$# 2S#ars #t.
Al, 2008K @ould 1336K Antill and /arm#r,
1331K 9;Cri#n and Zilly, 1361K >alpin and
Foodh#ad, 1380K Carm#$ha#l, 20005.

"h#r#!or#, d#lay in !inal paym#nt to
$ontra$tors is obs#r%#d by this pap#r as a
$ommon $aus# o! disput# in th# $onstru$tion
industry all o%#r th# (orld. Although th#r#
has b##n a r#markabl# progr#ss in Malaysia;s
$onstru$tion industry in th# r#$#nt y#ars,
probl#ms arising !rom paym#nt issu#s ar#
g#tting mor# s#rious. "hus, this pap#r
propos#s that th# $aus#s o! th#s# d#lay and
disput# $an b# $at#goris#d into thr## as
dis$uss#d in th# !ollo(ing subs#$tions (hi$h
ar# $ontra$tors+r#lat#d, manag#m#nt+r#lat#d
and $ontra$tual+r#lat#d.



:ournal o! South#ast Asian 7#s#ar$h D

Dispute and Delay Caused by Contractors
i%e% Contractor0#elated

Most o! th# tim# $ontra$tors (ould blam#
$li#nts (h#n th#y r#$#i%# lat# paym#nt. *%#n
though this ph#nom#non is not arguabl#, th#
$ontra$tors ar# also among th# !a$tors
$ontributing to this issu#. "his is support#d
by 7##%#s 2200'5 (ho stat#s that on# o! th#
main r#asons !or d#lays paym#nt is (h#n
th#r# ar# #rrors in submitting $laims by th#
$ontra$tors. "h#s# #rrors in$lud# $laims
(ithout ad#.uat# supporting do$um#nts,
(rongly $al$ulat#d $laims, submit
un$ompl#t#d $laims and submission (ithout
using th# right pro$#dur#s. Fh#n th#s# ar#
th# $as#s, $ontra$tors n##d to r#submit th#
$laims a!t#r making n#$#ssary $orr#$tions,
(hi$h #%#ntually (ill l#ad into d#lay in
paym#nt.

Anoth#r !a$tor $ontribut#d by $ontra$tors to
th# d#lay in th# !inal a$$ounts $losing is (h#n
th# $ontra$tors !ail to agr## (ith th#
%aluation o! (ork 29d#h and Cattain#h,
20025. "h# disagr##m#nt may $aus# d#lay in
$#rti!ying th# amount o! !inal a$$ount."his
(ould $ons#.u#ntly r#sult in $on!li$ts
b#t(##n $li#nts and $ontra$tor. It is no doubt
that th# $laims (ould not b# $#rti!i#d and
h#n$#, d#lay paym#nt (ill o$$ur. "h# sam#
probl#m (ill also happ#n #%#n though a
$ontra$tor $arri#s out his -ob as p#r sp#$i!i#d
in Cill o! Iuantiti#s and instru$tions, y#t
submits $laims a!t#r th# d#!#$t liability
p#riod. "his (ill #%#ntually tak# tim# !or th#
paym#nt to b# mad# to th# $ontra$tor.
<robl#m also o$$urs (h#n th# $ontra$tors do
not k##p th# r#$ords prop#rly to $laim th#
!inal paym#nts.

9n th# oth#r hand, 9d#h and Cattain#h
220025 indi$at# that inad#.uat# #0p#ri#n$#
o! th# $ontra$tor is also an important !a$tor
$ausing th# disput# and d#lay in $onstru$tion
pro-#$t. "his $ould b# link#d to th# $ontra$t
a(arding pro$#dur# (h#r# most pro-#$ts
(#r# a(ard#d to th# lo(#st bidd#r. A
$ontra$tor (ith inad#.uat# #0p#ri#n$# is not
abl# to plan and manag# th# pro-#$ts
prop#rly and this $an l#ad to disastrous
$ons#.u#n$#s.

Dispute and Delay Caused by
Management1s Matters i%e% Management0
#elated

Main !a$tor $ontribut#d to disput# and d#lays
in $onstru$tion pro-#$t by $li#nts ar# (h#n
th#y tak# long#r tim# than stipulat#d in th#
$ontra$t to $#rti!y th# $laim. A$$ording to ##
and Abdul 7ahman 220105, d#lay in
$#rti!i$ation by parti#s in%ol%#d may also
l#ad to lat# paym#nt. "h# parti#s in%ol%#d
may d#lay in appro%ing th# appli$ation !or
paym#nt $laim du# to $#rtain r#asons (hi$h
may aris# b#$aus# o! his o(n or oth#r parti#s
!ault, !or #0ampl# $laims o! th# d#sign and
$onstru$tion administration s#r%i$#s. "h#
obligation o! th# d#sign pro!#ssional to issu#
paym#nt $#rti!i$at#s !or instan$# has long
b##n a t#dious and dr#ad#d task and
th#r#!or# o!t#n $r#at#s num#rous liability
probl#ms. Although th# only r#al purpos# o!
issuing paym#nt $#rti!i$at#s is to in!orm th#
o(n#r or l#nd#r that th# $ontra$tor is
#ntitl#d to paym#nt, th#s# $#rti!i$at#s ar#
o!t#n us#d by pot#ntial $laimants as a basis
!or many typ#s o! l#gal a$tions. "his
ob%iously l#ads to lat# paym#nts in th#
$onstru$tion pro-#$t.

"h#r# ar# also $as#s (h#r# $li#nt;s
#mploy##s un#thi$ally hold th# pro$#ss o!
$losing th# !inal a$$ounts to obtain som# kind
o! Mgi!tN !rom $ontra$tors to #0p#dit# th#
paym#nt pro$#ss. "his un#thi$al pra$ti$# has
gain#d att#ntion !rom %arious p#rsonals in
Malaysia $onstru$tion industry in$luding th#
Malaysia <rim# Minist#r (ho insists that
$onstru$tion play#rs, parti$ularly th#
go%#rnm#nt s#r%ant (ith this kind o! attitud#
shall b# gi%#n p#nalty. C#sid#s, ## and
Abdul 7ahman 220105 id#nti!y that $li#nts
d#lib#rat#ly d#lay th# paym#nt to
$ontra$tors !or th#ir o(n !inan$ial b#n#!its,
#sp#$ially in r#l#asing th# r#t#ntion moni#s
to $ontra$tor.


' :ournal o! South#ast Asian 7#s#ar$h

Oarious lit#ratur#s ha%# also sho(n that
un#thi$al b#ha%iours in th# $onstru$tion
industry in$lud# un!air $ondu$t, n#glig#n$#,
$on!li$t o! int#r#st, $ollusi%# t#nd#ring, !raud
and brib#ry. /urth#rmor#, in t#rms o!
pro!#ssional $ondu$t, it has b##n id#nti!i#d
that th# ma-ority o! pro!#ssionals b#li#%# that
obligations to th# $li#nt and publi$ ar# o!
#.ual importan$# 2O## and Skitmor#, 200'5.
O## and Skitmor# 2200'5 ha%# !urth#r
$lassi!i#d un#thi$al pra$ti$#s into !our
g#n#ral typ#s o! a$tions (hi$h ar# un!air
$ondu$t, $on!li$t o! int#r#st, $ollusion, !raud
and brib#ry.

9th#r probl#ms to th# $losing o! !inal
a$$ounts o$$ur during rationalisation o! rat#s
2(ork pri$# $hang#s5 as (#ll as du# to th#
ignoran$# o! Contra$t Administrator sta!! in
rationalising th# rat#s on tim#. It usually
o$$urs (h#n th# p#rson in $harg# o! th#
pro-#$t 2i.#. .uantity sur#yorE#ngin##r5 is no
long#r in s#r%i$# (ith th#
$ompanyEr#tir#Etrans!#rr#d, thus th# $losing
o! !inal a$$ount (ill b# mor# di!!i$ult and
t#dious. 1isput# and d#lay (ill also happ#n
(h#n th# r#$ords 2(ork pri$#
$hang#sE%ariation ord#rs5 ar# not k#pt
prop#rly. C#sid#s, Murali 2200D5 also
id#nti!i#s that la$k o! $ommuni$ation
b#t(##n parti#s is on# o! th# $aus#s and
#!!#$ts o! d#lays !a$#d by Malaysia
$onstru$tion industrydu# to non+!un$tional
$ontra$t administrator. "h#r#!or#, th#
matt#rs sp#$i!i#d abo%# should b# gi%#n du#
att#ntion in #nsuring th# !inal a$$ount $an b#
$los#d su$$#ss!ully.

Dispute and Delay Caused by Contractual
Matters i%e% Contractual0#elated

Oarious !orms o! $ontra$t ha%# #stablish#d
th# pro$#ss#s and rul#d th# $losing o! !inal
a$$ount in $onstru$tion pro-#$t.
=nd#rstanding th# pro$#ss#s and rul#d it $an
h#lp th# o$$urr#n$# o! disput#s. >o(#%#r,
probl#ms al(ays o$$ur a!t#r r#$#i%ing th#
o!!i$ial $#rti!i$at# o! paym#nt !rom th#
$ontra$t administrator. "h# main .u#stion
aros# is ho( $an h# #n!or$# it, i.#. ho( and
(h#n h# $an !inally r#$#i%# his paym#ntsH
/or $ontra$tors, th# ans(#r li#s in th#
parti$ular $ontra$tual pro%isions go%#rning
th# $ardinal issu#s o! th# honouring p#riod as
(#ll as th# r#m#di#s a%ailabl# to th#
$ontra$tor in th# #%#nt o! th# #mploy#r;s
br#a$h o! th# said obligation.

9th#r !a$tor (hi$h $aus#d d#lay and oth#r
di!!i$ulti#s in th# $losing o! !inal a$$ounts is
to !inaliz# th# !inal amount o! %ariation
ord#rs. Oariation ord#r aris#s !or a %ari#ty o!
r#asons. Som# ar# !or#s##abl# (hilst oth#rs
ar# not. Som# r#sult !rom a g#nuin# $hang#
o! $ir$umstan$#s and oth#rs !rom th# d#sign
t#am;s o(n inad#.ua$i#s. Arain and &o(
2200D5 id#nti!y !our origin ag#nts o!
%ariation ord#rs, in$luding $li#nt, $onsultant,
$ontra$tor and oth#r $hang#s. 1i!!i$ulti#s in
r#sol%ing %ariation ord#rs !or $urr#nt or
!utur# pro-#$ts may ha%# a mat#rial ad%#rs#
impa$t on $ontra$tor;s !inan$ial $ondition,
$ash !lo(s and r#sults o! op#rations. I! this
probl#m $annot b# s#ttl#d b#!or# th# pro-#$t
is hand#d+o%#r to th# $li#nt, th# $losing o!
!inal a$$ount $annot b# r#sol%#d (ithin th#
p#riod pr#s$rib#d.

9n th# oth#r hand, th# d#lay $losing o! !inal
a$$ounts also o$$urs du# to maint#nan$#
it#ms in th# $ontra$t do$um#nts (h#r# th#
$ontra$tors still ha%# not b##n paid a!t#r th#
#0piry o! th# d#!#$t liability p#riod. Any
!orms o! $ontra$t in$luding <F120', <AM,
/I1IC and oth#rs stat# that !inal a$$ount (ill
b# paid a!t#r th# d#!#$ts liability p#riod.
"h#s# !a$tors slightly gi%# th# impli$ation to
th# d#lay in th# $losing !inal o! a$$ount in th#
$onstru$tion pro-#$ts.

Impact of Dispute and Delay in the Closing
of Final Accounts

"h# rapid in$r#as# o! th# d#lay in th# $losing
o! !inal a$$ount no(adays has gon# to th#
point that it t#nds to d#$r#as# th# good
imag# o! th# $onstru$tion industry in
Malaysia. Malay Contra$tors Asso$iation
2200D5 r#%#als that som# $ontra$tors o(#d
7M 100 billion to 7M 200 million (ithin !our
to !i%# y#ars, mostly in !inal paym#nts. "h#r#
ar# #%#n $ontra$tors (ho ha%# to do l#asing
:ournal o! South#ast Asian 7#s#ar$h 8

or loans (ith th# bank b#$aus# o! d#lay in
paym#nt. 1#lay in paym#nt gi%#s bad
impa$ts to $ontra$tors, #sp#$ially $ontra$tors
(ith small $apital. C#sid#s, it also $r#at#s a
n#gati%# $hain #!!#$t (ithin th# play#rs in th#
$onstru$tion industri#s su$h as to suppli#rs,
sub+$ontra$tors as (#ll as #nd us#rs.
<robl#ms to s#ttl# th# !inal a$$ount (ill
$r#at# !urth#r probl#m in $ash !lo( and
!inan$# to th# $ontra$tor in t#rms o!
obtaining o! $ash !lo( to p#r!orm oth#r
$onstru$tion pro-#$ts.

Impa$ts o! d#lays in th# $losing o! !inal
a$$ount also r#pr#s#nt an additional $ost to
th# $ontra$tor (h#r# in ma-ority o! $as#s, th#
#mploy#r is an0ious to kno( his ultimat#
!inan$ial $ommitm#nt. "h# ar$hit#$t,
#ngin##r or th# .uantity sur%#yor has a
$ontra$tual r#sponsibility und#r th# $ontra$t
to #nsur# th# dat# stipulat#d in th# $ontra$t
!or $ompl#tion o! th# !inal a$$ount is
a$hi#%#d, (hilst th# $ontra$tor should assist
in gi%ing prompt pro%ision !or
sub$ontra$tor;s and suppli#r;s a$$ounts by
taking into a$$ount th# m#thod o!
m#asur#m#nt and pri$#s bas#d on agr##m#nt
as (#ll as pro%iding n#$#ssary supporting
data.

It is not#(orthy to und#rpin that !inal
paym#nt is in!lu#n$#d by th# pr#paration o!
!inal $#rti!i$at#, or !inal paym#nt $#rti!i$at#
as indi$at#d in som# $ontra$ts, (hi$h is a
$on$lusi%# #%id#n$# o! all th# (orks that
ha%# b##n $ompl#t#d in a$$ordan$# (ith th#
$ontra$t (ith pro%ision as to th# !inal
$ontra$t sum. "h#r# has b##n (rong!ul
$on$#ption that th# $ontra$t administrator is
oblig#d to automati$ally produ$# a !inal
paym#nt $#rti!i$at# on his b#st kno(l#dg#
(ithin th# sp#$i!i#d p#riod a!t#r issuan$# o!
th# maint#nan$# $#rti!i$at#. Ind##d, th# la$k
o! und#rstanding o! and att#ntion to th#
signi!i$ant #0t#nt o! (orks in%ol%#d in th#
a$hi#%#m#nt o! su$h !inal paym#nt $#rti!i$at#
should b# th# origin o! probl#ms arising
th#r#o!.

Murali and Soon 220065 ha%# id#nti!i#d th#
!ollo(ing as th# ma-or impa$ts o! d#lay !a$ing
by Malaysia $onstru$tion industry) tim#
o%#rrun, $ost o%#rrun, disput#, arbitration,
litigation and total abandonm#nt. "h#
mistak#s and dis$r#pan$i#s in th# $ontra$t
do$um#nt gi%# impa$t on $ost o%#rrun and
subs#.u#ntly (ill a!!#$t th# pr#paration o!
!inal a$$ounts. "h# id#nti!i$ation o! $aus#s
and impa$ts alon# do#s not h#lp th# pro-#$t
manag#rs to tak# appropriat# r#m#dial or
pr#%#nti%# st#ps. "hus pro-#$t manag#rs o!
$ontra$tor n##d to und#rstand !or #0ampl#
(hat $aus#s d#lay in th# $losing o! !inal
a$$ounts. 9n$# th# !a$tors b#$om# $l#ar, th#
pro-#$t manag#rs $an tak# proa$ti%# st#ps to
a%oid su$h situations.

In t#rm o! th# impa$t o! disput# in th# $losing
o! !inal a$$ount, disput# (ill l#ad to th# us# o!
arbitration (h#n no mutual d#$ision is
a$hi#%#d in th# !inal a$$ounts $losing. In th#
arbitration pro$#ss, it is $l#ar that th#
disputants n##d an arbitrator (hilst an
ind#p#nd#nt #0p#rt (ill a$t as th# d#$ision
mak#r. "h# parti#s must agr## to th#
appointm#nt and ar# bound by th#
arbitrator;s d#$ision. *%#n so, th#r# ar# still
$as#s o! d#lay#d paym#nt and non+paym#nt
in arbitration i! not in th# $ourt (h#r#
$ontra$tors ar# still !a$ing probl#ms in
r#$#i%ing th#ir paym#nts. Arbitration and
-udi$atur# pro$#ss not only $onsum#d mu$h
tim# and mon#y but also $ould Pkill; th#
busin#ss. As a $ontra$tor, (hat is th# most
appropriat# a$tion to b# tak#n in s#$uring
th#ir paym#nts (ithout #!!#$ting th#ir
busin#ss and $ash !lo(H

In summary, it is $l#ar that th# pr#paration o!
prop#r r#$ord in!ormation at #arly stag#
should b# don# to a%oid th# probl#ms o!
disput# and d#lay in $losing o! !inal a$$ount.
Contra$t administrator should gi%# r#mind#r
to all parti#s to k##p all th# r#$ords prop#rly.
Cy doing this, it $an r#du$# and a%oid
probl#ms in th# $losing o! !inal a$$ount a!t#r
th# d#!#$t liability p#riod.

.n02ime Closing of Final Accounts

Constru$tion industry in Malaysia !a$#s many
probl#ms, su$h as littl# $o+op#ration, limit#d
( :ournal o! South#ast Asian 7#s#ar$h

trust, di!!#r#nt o! opinion and in#!!#$ti%#
$ommuni$ation r#sulting in an ad%#rsarial
r#lationship among all pro-#$t stak#hold#rs
2Chan, 200'5. Su$h r#lationship pilots to
pro-#$t d#lays, di!!i$ulty in r#sol%ing $laims,
$ost o%#rrun, litigation and a (in+los#
$limat# 2Moor#, Mosl#y and Slagl#, 13325.
"h#r#!or#, i! th# abo%# probl#ms ar# not
nipp#d in th# bud, th#n, th#s# issu#s (ill
#s$alat# and $aus# !urth#r d#lay throughout
th# $ours# o! th# $onstru$tion pro-#$t
in$luding th# !inal a$$ount $losing stag#. As
su$h, th# !inal a$$ountis protra$t#d and
!r#.u#ntly th# d#lay#d and uns#ttl#d issu#s
l#ad to disput#. <ursuant to Ca$$arini 213335
and Ghang and Mo# 220085, (h#n all th# !inal
a$$ount o! !inan$ial transa$tionEdu#s ar#
$ompl#t#d on+tim# at th# $losing or
$ompl#ting phas# o! a pro-#$t, su$h pro-#$t
satis!i#d th# #nd us#rs and all k#y
stak#hold#rs 2in$luding $ontra$tors5.
9n th# oth#r hand, (h#n th# !inal a$$ount
$losing is $ompl#t#d (ith a !inal paym#nt
$#rti!i$at# issu#d by th# #ngin##r or .uantity
sur%#yor (ithin th# $ontra$tual pr#s$rib#d
tim#s$al#, th# $losing o! th# !inal a$$ount !or
a parti$ular pro-#$t is $lassi!i#d as on tim#
and satis!i#d 2Go, 20035. "h# $ontra$tor shall
submit !ull parti$ulars $ompl#t# (ith
supporting do$um#nts a!t#r th# issuan$# o!
th# C#rti!i$at# o! <ra$ti$al Compl#tion !or th#
!inal paym#nt.

Conclusions

A $onstru$tion pro-#$t is $onsid#r#d as
su$$#ss!ul i! it is $ompl#t#d (ithout any issu#
(ithin #stimat#d $ost, tim#, duration and
pr#s$rib#d s$h#dul# on a m#thodology that
r#.uir#s sound #ngin##ring -udgm#nt.
A$$ording to Sh#net al. 220065, th# ob-#$ti%#s
o! a $onstru$tion pro-#$t ar# to #nsur# th#
!inan$ial a!!ordability to th# stak#hold#rs and
$li#nts, $r#at# #mploym#nt opportuniti#s and
$omp#titi%#n#ss as (#ll as maintain th#
n##ds o! !utur# g#n#rations. Cli#nt or
paymast#rs should pra$ti$# an #!!i$i#nt
syst#m to mak# sur# that th# $ontra$tor
r#$#i%#s th# paym#nt a$$ordingly. >#n$#,
d#lays o! !inal a$$ounts $losing $an b#
r#sol%#d at th# #arly stag# i! th# do$um#nts
ar# k#pt prop#rly. 1#lay in th# $losing o! !inal
a$$ounts may also $aus# probl#ms to
$ontra$tor in making (orking $apital and
#%#ntually l#ad to bankrupt$y. <#rsonal in
$harg# in th# pro-#$t should b# maintain#d
#sp#$ially th# pro-#$t manag#r until th#
$losing o! !inal a$$ounts is $ompl#t#d. "hus,
pro-#$t manag#rs n##d to ha%# b#tt#r
und#rstanding o! $riti$al su$$#ssE!ailur#
!a$tors in th# $onstru$tion pro-#$t and ho(
to m#asur# th#m.

In g#n#ral, this pap#r has su$$#ss!ully
r#%#al#d th# o! $omparisons o! !orms o!
$ontra$t that ha%# b##n us#d in th#
$onstru$tion industry in Malaysia. "his pap#r
also id#nti!i#s th# $aus#s and impa$ts o!
disput# and d#lay in th# $losing o! !inal
a$$ount. It is anti$ipat#d that th# !inding
r#port#d in this pap#r $ould assist th#
planning o! !utur# strat#gi#s and guid#lin#s
in #nsuring an on+tim# $losing o! !inal
a$$ount in $onstru$tion pro-#$ts in Malaysia.
In th# !utur#, through $omparati%# studi#s in
oth#r asp#$ts, th# r#ason on (hy #a$h
$hara$t#risti$ o! a $ontra$t !orm, and rol#s
and r#sponsibiliti#s $ontra$t administrator
ar# !orm#d in #nsuring th# on+tim# $losing o!
!inal a$$ount in $onstru$tion pro-#$t shall b#
pro%#n !rom th# %i#(points o! history,
$ultur# and busin#ss pra$ti$#s.

Ac3nowledgements

"h# authors (ould lik# to #0pr#ss th#ir
sin$#r# gratitud# to =ni%#rsity o! "#$hnology
Malaysia !or pro%iding th# !inan$ial support
!or this pap#r to b# publish#d. "h# authors
ar# also %#ry grat#!ul to anonymous
r#%i#(#rs !or th#ir %aluabl# $omm#nts to this
pap#r. "his study is !inan$#d by th# @rant !or
7#s#ar$h =ni%#rsity 2@=<5 "i#r 1 o! th#
=ni%#rsity o! "#$hnology Malaysia, :ohor !or
r#s#ar$h !unding und#r Cost C#ntr# ?o.
I.G.1'0000.6140.00>46.

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