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Almost 50,000 Malay contractors close shop, unable to renew licence
[Image: 06102020-KUL-_construction_workers_forei...ixabay.jpg]

KOTA BARU – Nearly 50,000 Malay contractors were forced to shut down their businesses because they could not renew their licences after being affected by the significant increase in the prices of building materials since 2018.

Malaysian Malay Contractors Association (PKMM) deputy president Datuk Mohd Rosdi Ab Aziz said the Covid-19 pandemic has also resulted in fewer projects, affecting most contractors from class G1 to G4.

“Among the factors that caused them to be unable to renew their licences was they did not have sufficient funds in their capital account according to their respective contractor classes.

“At the same time, the lack of projects has also resulted in them not being able to bear the entire cost required,” he told reporters after attending the 45th Kelantan PKMM Annual General Meeting here today.

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