28 Oct '14, 5am

#GlobalREBubble #Singapore 'Project delays caused by tighter rules on foreign workers' @SGPropertyGuru

#GlobalREBubble #Singapore 'Project delays caused by tighter rules on foreign workers' @SGPropertyGuru

Comment E-mail to friend Bookmark & Share Singapore’s construction industry is suffering from late payments and project delays, as contractors are squeezed by higher operating costs and the government’s curb on foreign workforce, according to media reports. “Construction demand is expected to continue with many big projects such as the MRT line extensions, Changi Airport expansion, but a shortage of workers means projects may cost more and take longer to complete,” said KPMG Singapore Partner for the building sector, Teo Han Jo. In fact, more than half of the payment transactions in the sector were overdue in the second quarter, with the incidence of late payments increasing by 3.8 percentage points to 51.4 percent, revealed the Singapore Commercial Credit Bureau (SCCB). Payments are considered late when over half of the amount owed is not satisfied on time, while prompt p...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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