Construction firms face 'collapse risk'
Many of the 2,000 firms in DP Info's study have high debt, little cash and weak profitability. -ST
Fri, Nov 28, 2008
The Straits Times
By Joyce Teo
THE local construction industry could already be in serious trouble heading into the economic downturn, new data from DP Information Group (DP Info) shows.
Ironically, the seeds of the problem were sown during the recent construction boom as firms snapped up projects using short-term credit to get things moving.
As a result, many are heavily reliant on this short-term credit.
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