: A labour shortage, as well as rising raw material costs and interest rates amid the weaker ringgit have continued to weigh on the local construction sector despite the economy rebounding post-pandemic.
The National Recovery Council recently called for the shortage of foreign workers issue to be resolved soon, with arrivals of foreign labour into Malaysia less than the levies already paid at RM713,890 for the approved quota of 467,223. “Does it involve their country’s problems or some other reasons? This point needs to be emphasised, otherwise, the agriculture sector, especially palm oil, will continue to suffer,” he said.
“The price of mechanical and electrical components has also increased because many M&E components are imported from the United States.The local currency has been on a downward trajectory against the greenback since early this year, driven by the weakening of the global economic outlook, as well as the concern over domestic political stability.