With general elections due in 2015, construction activity is likely to remain strong even if Government slows down its heavy capital expenditure programme which plays a critical path in providing fiscal stimulus to the economy. This, combined with other projects undertaken by the private sector, is expected to further boost non-energy activity.
•  Third, we are guarded in our 2015 outlook, as results from the third Business Confidence Survey, conducted by Central Bank and Arthur Lok Jack Graduate School of Business, once again point to cautious optimism among the local business community.