18 Mar 2020

Malaysia lockdown: Construction halts across country as virus battle steps up

All construction has now stopped in Malaysia as a country-wide lockdown took effect until 31 March, with the government hoping to check the spread of COVID-19.

Confirmed cases jumped to 790 as of 18 March 2020, making it the worst-hit country in southeast Asia.

"We do not want a situation where thousands of people are affected by the virus and hospitals are unable to cope with the overwhelming number of patients, like what is happening in some countries," said Federal Territories Minister Tan Sri Annuar Musar.

"The virus is transmitted by contact, so please follow the directive," he added.

Among the projects affected is the large mixed-use development, Aspen Vision City, being developed in Penang by Singapore-listed Aspen (Group) Holdings Limited and Ikea.

A roughly $141m contract to construct 2,510 executive apartments in two buildings was awarded to builder Kerjaya Prospek in January.

In a notice to the Singapore exchange, SGX, Aspen (Group) Holdings said the shutdown 'is not expected to have a material financial impact on the earnings per share and net asset value per share' in the current financial year.

Article source: Global Construction Review
Image: Artist’s render of mixed-use scheme Aspen Vision City in Penang, Malaysia (Aspen Group Holdings Limited)

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