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Construction industry suffered RM18.5bil losses in first three MCO phases

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KUALA LUMPUR: The construction industry suffered RM18.5bil in losses during the first three phases of the movement control order (MCO) from March 18 to April 28, says Datuk Seri Fadillah Yusof.

The Works Minister said RM6.9bil in losses were recorded between April 15 and April 28, the third phase of the MCO which saw the reopening of 13 sub-sectors.

Fadillah added that inspections on 7,590 construction sites nationwide by the Construction Industry Development Board from April 20-Sept 20 found that 1.96% of them had not resumed operation. He also said that 89,708 or 88.7% of all construction companies registered with CIDB were class G1 to G5, or categorised as small and medium enterprises .

 

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