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Malaysia developers tackle slump with job freezes, benefit cuts
70% of respondents in an industry survey say they were affected by unsold units in H2 2016 amid declining sales
Material (especially steel) and labour, compliance and the GST are the top three major cost components in the construction industry, according to the Real Estate and Housing Developers’ Association.
PHOTO: BLOOMBERG
Kuala Lumpur
FOUR out of 10 builders in Malaysia froze recruitment while one in three opted to reduce staff benefits or perks last year as part of cost-cutting measures amid a weak property market and rising business costs, according to an industry survey.
Eight per cent retrenched...
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