REVISITING THE FINANCIAL ISSUES AND THE IMPACT TO CONSTRUCTION PROJECTS IN MALAYSIA
Keywords:Financial Issues, impact, revisit, construction, Malaysia
AbstractEvery activity in a construction project is related to time and cost. Delay is considered common and often occurred in a construction project. A slight delay can be very costly. It will impact all of the related stakeholders. This paper seeks to identify the financial issues in the construction industry and the impact of the financial issues towards the projects in Malaysia. Literature reviews and questionnaire surveys were used to carry out the study. The data collected were analysed via Microsoft Excel and SPSS software. The paper reveals that the withholding of payment by the approval parties is the critical financial issues in Malaysia’s construction industry, while the main impact when the financial issues occurs is where the project is delayed/postponed/terminated. The findings of this research will give a good insight to the industry and help to improve the local players’ competitive capabilities as highlighted by the Construction Industry Development Board (CIDB) in the Construction Transformation Programme (CITP) 2016-2020 and in line with the Sustainable Development Goals (SDGs) that was introduced by the United Nations (UN).
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