BT HANDSHAKES DATA SERIES
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More construction firms set up than wound up despite pandemic
Covid reliefs may have helped delay day of reckoning, say observers; for most sub-sectors, cessation rates were lower in 2020 and 2021 than in pre-Covid years
Published Sun, Mar 20, 2022 · 09:50 PM
Singapore
DESPITE pandemic-related challenges, more construction firms were formed in the last two years than were wound up, according to figures compiled by data platform Handshakes.
Sectoral relief under the Covid-19 (Temporary) Measures Act (Cotma) might have helped firms hang on, said observers. With the last few relevant provisions under Cotma having just expired or expiring soon, cessations may see a spike - though this may not be that great, as the sector's prospects have improved, they added.
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