GEORGE TOWN: The value of jobs for the construction industry in Penang this year is expected to hit RM6bil in view of several big contracts that will be given out this year.
In 2014, according to the latest Construction Industry Development Board (CIDB) report, the value of contracts dished out to contractors in Penang was RM4.8bil, which fell short of the RM6bil target. This was due to banks tightening lending rules, particularly the bridging and end-financing loans for developers and buyers and changes in the state housing guidelines.
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