Singapore’s construction industry is having a bad quarter. News of financial difficulties were coming out from a few public listed construction companies. The pandemic and the rise in cost due to inflationary pressures have caused many to suffer. Revenue and profit from construction companies are usually project/contract based. It means that any sudden surge in construction cost will have a negative impact on their budgeted costs as it is not easy to pass the cost onto the customer. Therefore, contractors and developers were the worse hit in this sector. This has led me to think whether Singapore’s Construction Industry is in trouble.
