Construction industry set to recover due to Govt's stimulus packages

Construction industry set to recover due to Govt's stimulus packages


KUALA LUMPUR: The government's decision to reopen almost all economic sectors coupled with the four stimulus packages has mitigated losses in the construction industry following the Covid-19 pandemic.

Construction Industry Development Board Malaysia (CIDB) chief executive Datuk Ir Ahmad 'Asri Abdul Hamid said the sector recorded losses of about RM11 billion during the first phase of the Movement Control Order (MCO).

The losses were subsequently reduced by RM4.8 billion to RM6.2 billion when the government allowed the construction for 13 categories of projects to resume during the next phase of the MCO.