[J2S]

5 BTO projects in Bukit Batok, Clementi, Bukit Panjang and Woodlands face further delays as contractor goes bust, Housing News & Top Stories - The Straits Times

[WhatDoYouThink?]

buy ready or resale units better. there're always hidden costs in waiting for future ones.

[Notdumb]

How they go bust at ever increasing price of BTO? Who makan all the profit$$$?

[sgxin]

Contractor killed by the rising iron ore/steel rebar prices?


https://www.spglobal.com/platts/en/marke...-analytics

[Sharexchange]

Sub sub sub until bust..haha..good la..actually not bust la...they quit. They know manpower going up so quit now better. Company bust individual not bankrupt.

[Levin]

Contractor killed by the rising iron ore/steel rebar prices?

Possible? Although iron ore dropped like a rock since July from around 220 to 160. Maybe too late to help them.

https://markets.businessinsider.com/comm...-ore-price

[Sharexchange]

Govt No help meh? Cannot be la

[Galilo_l]

Only check external factors... progress of work n slow down indications... in endemic sud closely monitor financially n more communications 

[menghuii]

unexpected or unprepared?
granting projects to companies whose cash holdings are limited is unprofessional. those construction companies depending on prompt hdb payment are simply a surviving on hand to mouth just like ordinary renovation contractors who collects deposit to build n pay for initial work then collects again for initial work done. who cant finance? ask any contractor. you can do it with zero in your bank ac.

[dynamite]

Take lowest bid some more? Many government tender take lowest bid then the civil servants shake legs. When things happen, then they come out action and blame the contractors. They should blame themselves.

[Yin yang]

Now the bighest problem headache is for conyractors to get good hard working reliable workers ..in extremely short supply ..

Everything stops , no talk when u dont have labour, biggest factor of production...

[Ernesto]

Its very clear when you have a project s continuous payment by authority ,why can go bust?
Many worry no project and non payment.

[mikotan]

with unexpected covid and raising cost, better to declare bankrupt than honour the contracts.

[theold]

Bid low, workers lock-up, cost goes up... better declare bankrupt first.

[Levin]

40-year-old company gone like that. Haiz.

[ArielCasper]

"Financial difficulties" can mean thousands and one thing..

Cannot reached the next payment milestone, but bank loan repayment knocking at the company's door??

Part and parcel of life in business..

[Huliwang]

Sub sub sub until bust..haha..good la..actually not bust la...they quit. They know manpower going up so quit now better. Company bust individual not bankrupt.

Ya they cut loss.......

[Huliwang]

Pandemic lah. I saw almost all construction projects delayed due to travel restriction of foreign workers, building materials and heavy equipment. Cost also went up a few folds since the start of this pandemic. So contractors minimize loss by throwing in the towels early.......

[Talent]

expected
gov think everyone are ok
keep pushing up cost or passing cost to us

[RiseofAsia]

Good luck to the BTO buyers?

More bankrupts will come....
Become Ghost BTOs.

No more free $$$.

[RiseofAsia]

How they go bust at ever increasing price of BTO? Who makan all the profit$$$?

Not scam meh??? 

[RiseofAsia]

Govt No help meh? Cannot be la

No garment will help property crisis.

[Talent]

what co name

[alanis]

40-year-old company gone like that. Haiz.

[itangg12]

what co name

Great Earth,

[Levin]

Wah, so old?  Different from the info (incorporated in 1981) I got here at sgpbusiness: https://www.sgpbusiness.com/company/Grea...on-Pte-Ltd

It is a subsidiary of Greatearth Pte Ltd which is even newer, just 11 years old.

Maybe different companies with the same name?