BUILDING COST DATABASE®
MALAYSIA

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About BCD® System

What is Building Cost Database® primary role ?
To provide data which will allow the end-user to check on his own knowledge and to provide a context for his own decision making.
Our system provides a baseline for costing comparison.
What is BCD® system all about ?
Building Cost Database® system is an on-line and interactive information service provider which disseminates current construction cost information for all involved in the Building & Construction industry
Is BCD system a solution or just an IT product ?
Building Cost Database® system focuses on the goal of offering solutions, rather than just information.
What is the thought behind BCD system's algorithm ?
If everyone in a department was asked, what it would cost to construct a brick wall, some will jump in and give a price, others will want more details what sort of bricks are we using? Who will supply the material?
And this may seem enough information for some, but others will still want more information ………..e.g. Is it an external or internal wall?..... What is the quantity in question? Etc……….
……..Only when all the details and information are known, can the pricing begin….
How relevant is the costing information found in BCD® ?
Building Cost Database® system provides the end–user with current market prices/cost based on real-time for the various facets of costing/ estimating of the construction industry.
What sort of information is available at BCD® ?
Building Cost Database® system disseminates a wealth of construction costing information as required by the various construction industry players
  • Building Cost per square meter Guide
  • Elemental Cost Analysis Guide
  • Composite Unit Rates Guide
  • Detailed Unit Rates Guide
  • Material Rates Guide
How is the costing information at BCD® updated / revised ?
We update / revised our costing information by using the source of cost components. By updating or revising a particular cost component, our system will interact with our other databases and update / revise it's respective cost component as established in the other databases.
Can BCD® system provide any form of cost comparison for different localities ?
The BCD® system also has the ability to perform "what-if analysis" based on current prices for different localities
We do not use a locality indices methodology to update or revise our costing information
How does BCD® system work ?
For the Building Cost per square meter and Elemental Cost Analysis Databases, our BCD® system revolves on historical information (Bills of Quantities) of the yester-years projects.
The data mining system revolves around updating real historical data (Bills of Quantities) with current market rates/cost , which is carried by a team of Registered Quantity Surveyors.
In a nut shell,
We will convert a yester–year Bills of Quantities (BQ) to today's Bills of Quantities (BQ) with current competitive rates /cost.
How does BCD® system adapt to price changes in the industry market?
Our BCD® system intelligently builds virtual building models based on the works and quantities as described in the yester-year BQ's .
And by linking our virtual building models with our Rate Database, our system will be able to disseminate current costing information based on the said virtual building models
In the event there is a change of material / labour cost for a particular work, this change will be reflected in the Rate Database and concurrently this price change will be reflected in our virtual building models.
How accurate are the information found in the BCD® system ?
Presently we have an understanding with a Registered Quantity Surveying Consultancy here in Malaysia where they will be responsible for auditing the costing information as found in the Building Cost Database® system thus ensuring the accuracy and currency of the disseminated information.
How does one gain access to the BCD® system ?
BCD® system is only available to it's subscribers
Members will be required to log into the Building Cost Database® system to access its information.
About Us
COMPANY ESTABLISHMENT

VERITAS Contracts was established in 2008 as a member of the VERITAS Design Group. Today, we continue to pursue a dynamic approach to professional services founded on innovation and the principles of integrity, tailored to respond to the specific needs of each particular Client.

We have been honored over the years working with important commissions for major international organization and public listed companies, both within Malaysia and overseas. Completed projects of the firm have been published widely in the local media and the principals have presented their work and ideas at numerous academic and professional forums.

As part of the VERITAS Design Group, we have access to the larger resources of our parent company, to meet critical project milestone and for the purpose of providing integrated professional services. These resources include over350 qualified professionals and support staff within its 5 Malaysia offices(Kuala Lumpur, Penang, Johor, Sabah and Sarawak) and 10 international offices. offices

COMPANY ESTABLISHMENT

Registered with Board of Engineers and Board of Quantity Surveyors Malaysia, we are a professional entity licensed to design, submit and obtain approval for full facility development. We have long established relationships with local professional partners to facilitate project specific statutory clearances.

Our support services encompass architecture, mechanical & electrical engineering, civil & structure engineering, cost consultation, process engineering, construction, and project management.
We provide a single channel for handling all downstream activities required for successful project completion.

VERITAS Contracts Sdn Bhd is a Quantity Surveying Practise registered with the Board of Quantity Surveyors, Malaysia and has offices in Kuala Lumpur, Johor, Penang, Sabah and Sarawak

THE CONCEPTUALISATION OF Building Cost Database®

In the late 1990s, when "mega projects" were a buzzword in Malaysia's building and construction industry, numerous professional consultants including architects, engineers, and quantity surveyors recognized the need for a comprehensive building and construction cost reference book within the industry.

From this vision, the VERITAS Handbook was developed to provide a detailed and all-encompassing building cost reference covering all sectors of the industry.

With the advent of the Internet, VERITAS Contracts Sdn. Bhd. has leveraged this medium to interact, disseminate, and deliver a range of products and services in a secure, real-time environment.

It is said that many variables have to be considered when estimating.

If everyone in a department was asked how much will it cost to hang a door, some will jump in and give a price, others will want more details. Who will supply the material? What sort of door is it? Is it a single or double leaf door? This may seem enough information for some, but others will still want more information, e.g. Who is to carry out the painting works? Is it a job located in a rural area? Is there only one door to hang? etc.

Only when all the details are known, can the pricing begin. There will be some variation in the price due to the differences in building material cost, but the main variation is in the time that will be required to complete the job and although the difference may only a small estimate here, on a similar ratio for a larger project, it could be the different between winning or losing a contract.

It is believed that this Building Construction Database, will serve the following objectives:

  • Contribution to the Overall Construction Industry

    Within the construction industry, this Database will serve as a benchmark for all those involved in the purchasing and costing arena of the industry.

  • Contribution to the Consumer

    All "Consumerism" begins with self-awareness. The consumers would benefit from knowing the specific costing of the various scope of works. This would enable them to use this Database as a basis, to ensure that they are not overcharged by the Contractors.

  • Contribution towards the Government's Policy

    This handbook will serve the role as an anti-inflation tool. Any book which directs the buyer to the (low-end) price for a specific construction works is an anti-inflationary device. It ensures only a realistic margin of profit for all parties (manufacturers, constractors, etc.)

Sr Richard Raymond
Dip. Arch B. Build (U.T. Sydney) M. Bus (U.N. Castle)
CQS FRISM FRICS MAIB AAIQS ACIArb MAE

Contact Us

We're here to help you out with your next investment. Contact Us Today!
Phone
+603 4131 6600
General Emails
contracts@theveritasdesigngroup.com
Reach Us
Level 15, Tower 2, Wangsa 118,
No 8, Jalan Wangsa Delima,
Wangsa Maju,
53300, Kuala Lumpur
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Cost Audited By
VERITAS Contracts Sdn. Bhd.
Registered Quantity Surveyors
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