Source: ST, May 28, 2014
This is bad news for construction companies such as Yongnam (+2.04%) that rely heavily on public contracts and have yet to accumulate sizeable order books for 2014.
It does seem odd to intentionally defer projects on the basis of foreign worker demand. As the article says, urgent projects such as housing and train network expansion will not be affected. I would not expect infrastructure projects to be delayed as every other ASEAN member is rushing out infrastructure upgrades for the AEC.
It's that time of year again, where we put everything down and engage in that archaic ritual of crystal ball gazing. Simply put, it...