Construction firms challenged as business shrinks, cashflow hit

Singapore

THE beleaguered oil and gas industry has barely started to climb out of the hole when another major business sector - construction - is headed for dark times, with increasing liquidations and collapses.

Backed into a corner by a shrinking market and cashflow gap, at least 20 construction and engineering firms were involved in winding up applications in the third quarter (July to September) alone, according to a count by The Business Times.