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 Construction companies going to tutup due to MCO

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Silfer
post Apr 8 2020, 12:51 PM

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QUOTE(bearbearwong @ Apr 8 2020, 12:46 PM)
oh cannot sell = you take few units  (contra) =cash flows

ur boss good ah cut own meat and blood to help pay others
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did not take few units as you claimed.
not sure what you mean by that. pay what? cut own meat and blood, i dont get this metaphor. sorry ayam bodoh.
kelvin988
post Apr 8 2020, 12:53 PM

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Main con can claim for EOT la tu
bearbearwong
post Apr 8 2020, 12:56 PM

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QUOTE(Silfer @ Apr 8 2020, 12:51 PM)
did not take few units as you claimed.
not sure what you mean by that. pay what? cut own meat and blood, i dont get this metaphor. sorry ayam bodoh.
*
final claim later... when you wanna take retention sum that time..

it means that boss fork own monies to pay
Prometric
post Apr 8 2020, 12:57 PM

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Im in construction company, i think my Boss now day day pray the MCO extend cause company cash flow can tahan min 1 year without any income/collection at all. Time to kill off all the competition.
bearbearwong
post Apr 8 2020, 12:58 PM

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QUOTE(kelvin988 @ Apr 8 2020, 12:53 PM)
Main con can claim for EOT la tu
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those staffs under Main Con macam, site supervisors, area, engineer, managers, security guards, accounts and etc..

but Main con can sustain one..
bearbearwong
post Apr 8 2020, 12:59 PM

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QUOTE(Prometric @ Apr 8 2020, 12:57 PM)
Im in construction company, i think my Boss now day day pray the MCO extend cause company cash flow can tahan min 1 year without any income/collection at all. Time to kill off all the competition.
*
hmm dirty... the billionaires are waiting for chanci to sapu other companies like airline Malaysia... constructions company...

later wholly taken over by new billionaires
SUSMhd shah
post Apr 8 2020, 01:01 PM

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Legal issue is the responsibility of Govs, many Govs already issued emergency regulation to ease the problems.
in Msia , even the temporary visa was extended automatically due to MCO
kelvin988
post Apr 8 2020, 01:03 PM

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QUOTE(Prometric @ Apr 8 2020, 12:57 PM)
Im in construction company, i think my Boss now day day pray the MCO extend cause company cash flow can tahan min 1 year without any income/collection at all. Time to kill off all the competition.
*
cash is king now, if u have the cash to pay subcont, no problem to pay subcont, senang je catch up progress
kelvin988
post Apr 8 2020, 01:04 PM

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QUOTE(bearbearwong @ Apr 8 2020, 12:58 PM)
those staffs under Main Con macam, site supervisors, area, engineer, managers, security guards, accounts and etc..

but Main con can sustain one..
*
if main con a lot of them sub out their work, staff wise every industry same haha
but if construction mati, a lot of firm will die together
Prometric
post Apr 8 2020, 01:07 PM

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QUOTE(bearbearwong @ Apr 8 2020, 12:59 PM)
hmm dirty... the billionaires are waiting for chanci to sapu other companies like airline Malaysia... constructions company...

later wholly taken over by new billionaires
*
Not dirty, its the survival of the fittest

QUOTE(kelvin988 @ Apr 8 2020, 01:03 PM)
cash is king now, if u have the cash to pay subcont, no problem to pay subcont, senang je catch up progress
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Ya i agree, cash is king now. Now all payment out confirm on hold. At least boss treat us good, no pay cut / un-paid leave etc etc
bearbearwong
post Apr 8 2020, 01:07 PM

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QUOTE(kelvin988 @ Apr 8 2020, 01:04 PM)
if main con a lot of them sub out their work, staff wise every industry same haha
but if construction mati, a lot of firm will die together
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the trend is happening, just waiting the right time... maciem some even listed cons also Winding up

maybe after falling quite bad, there will be take over by other companies... HLBB/PBB these players can sapu..
persona93
post Apr 8 2020, 01:08 PM

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so property DDD?
bearbearwong
post Apr 8 2020, 01:08 PM

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QUOTE(Prometric @ Apr 8 2020, 01:07 PM)
Not dirty, its the survival of the fittest
Ya i agree, cash is king now. Now all payment out confirm on hold. At least boss treat us good, no pay cut / un-paid leave etc etc
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if got cash, why still submit to pay subcon to finish the project?

drag, until pay master gg, then sapu paymaster position with dirt cheap price ma

my idea if cash rich enough
Silfer
post Apr 8 2020, 01:10 PM

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QUOTE(bearbearwong @ Apr 8 2020, 12:56 PM)
final claim later... when you wanna take retention sum that time..

it means that boss fork own monies to pay
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i see. not sure about this. not knowledgable enough to know this.
rickyro
post Apr 8 2020, 01:12 PM

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EOT must be granted under PAM under such circumstances
iwubpreve
post Apr 8 2020, 01:13 PM

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QUOTE(rpg @ Apr 8 2020, 11:37 AM)
u know contractor also can claim late delivery charges known as extension of time. Construction workers are daily paid, got work only got paid.
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QUOTE(Liamness @ Apr 8 2020, 11:42 AM)
sure, but the contractor must be diligent enough to submit EoT right now! But I can bet you many of those amateur sub-contractors that do minor works in construction won't be smart or experience enough to do so. So they will kena if nobody informs them.

Also, those new projects just kick-off in 2020, want to EoT so fast? I doubt they will grant them..
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this is EOT without reimburse u a single cent. that's what force majeure all about. give u time no extra expenses
iwubpreve
post Apr 8 2020, 01:14 PM

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QUOTE(rickyro @ Apr 8 2020, 01:12 PM)
EOT must be granted under PAM under such circumstances
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nice. bro come join us in telegram. qs group.

https://t.me/joinchat/GnpHTxbi4CFMfOC6SSWSgg.
kamfoo
post Apr 8 2020, 01:16 PM

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rip
bearbearwong
post Apr 8 2020, 01:19 PM

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QUOTE(rickyro @ Apr 8 2020, 01:12 PM)
EOT must be granted under PAM under such circumstances
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boss explain further can? if not EOT clause dalam PAM ? PAM not standard form? so those direct sub contract punya depends on each individual contract la?

i saw views that even Majuera tak de, still will be implied/understand such clauses... true?
SUSxingai
post Apr 8 2020, 01:20 PM

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QUOTE(cmk96 @ Apr 8 2020, 12:34 PM)
All companies are effected by this MCO... if your business cant last few months without business. Better cut lost.

there are reasons why some prefer to be employee.

Every company start small once a time ago. Just that they hv been in the business far longer than you... they hv better cash buffer.

If you are just a startup at desapark...less than a year... most probably your finance is in the red during MCO.... still have not BE yet.
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My situation is somewhat better. 8 Airbnb apartments + 2 Chinese Takeaway building, all still on the mortgage, but inside each of the account had enough money for it to deduct for 11 to 12 months. Takeaway business tax etc and stuff cannot be escaped thou... I still have to pay for now.

Tourism Business Office block is rented, which had to be settled no matter what.

The flat I'm living with my wife is fully paid, car fully paid, and insurance are all settled for now.

But at most, I can handle for a 12 month period before I need to start getting headache. (Cortesy of a Mainland China wife, super crazy in these kinds of stuff like pay first, all lumsum, don't wear bigger hat than your head, etc lessons)

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