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Chan, T K and Hiap, P T (2012) A balanced scorecard approach to measuring industry performance. Journal of Construction in Developing Countries, 17(S1), 23-41.
Halim, M S A, Jaafar, M, Osman, O and Shariff Haniff, M (2012) Financial ratio analysis: An assessment of Malaysian contracting firms. Journal of Construction in Developing Countries, 17(S1), 71-8.
- Type: Journal Article
- Keywords: construction industry; financial failure; financial management
- ISBN/ISSN: 1823-6499
- URL: http://web.usm.my/jcdc/vol17_s1_2012/Art%205_jcdc17-s1.pdf
- Abstract:
This paper examines the role of financial management in the success or failure of construction firms. According to previous studies on the impact of financial factors in the failure of construction projects, poor financial management and lack of capital are the main determinants of construction failure. Failures in the construction industry are experienced not only by developing countries but also worldwide, and the failure scenario is present in the construction industry in Malaysia. The failure rate of construction companies in Malaysia is high. According to the Construction Industry Development Board Malaysia (CIDB), from January 2006 to August 2008, 11,321 construction companies were classified as dormant and non-active. There are very few successful contractors in Malaysia, and most construction projects cannot be completed within the original schedule. The sources of failure are directly related to financial factors. In this case study, 17 financial ratios were used to measure companies' financial performance. Six medium and large Bumiputera contractors were selected as case studies. This study found that most Bumiputera construction companies had insufficient cash capital to finance their construction work, experienced a low profit margin from construction projects and were highly dependent on debt capital to finance their construction costs. There was a lack of monitoring systems for cash flow and project costs. Without effective financial practices, construction companies are setting themselves up for failure. © Penerbit Universiti Sains Malaysia, 2012.
Johar, N (2017) Community participation: A cementing process, theorizing various dimensions and approaches. Journal of Construction in Developing Countries, 22(S1), 47-61.
Loganathan, S, Srinath, P, Kumaraswamy, M, Kalidindi, S and Varghese, K (2017) Identifying and addressing critical issues in the Indian construction industry: Perspectives of large building construction clients. Journal of Construction in Developing Countries, 22(S1), 121-44.
Malik, K (2017) Assessment of energy consumption pattern and energy conservation potential at Indian airports. Journal of Construction in Developing Countries, 22(S1), 97-119.
Ofori, G and Toor, S R (2012) Leadership and construction industry development in developing countries. Journal of Construction in Developing Countries, 17(S1), 1-21.
Parthasarathy, M K, Murugasan, R and Murugesan, K (2017) A critical review of factors affecting manpower and equipment productivity in tall building construction projects. Journal of Construction in Developing Countries, 22(S1), 1-18.
Paul, V K and Seth, V (2017) Benchmarking and objective selection of technologies for housing in India using quality function deployment. Journal of Construction in Developing Countries, 22(S1), 63-78.
Rwelamila, P D (2012) Research contribution to innovation in infrastructure development in Africa: Assessing the status. Journal of Construction in Developing Countries, 17(S1), 43-56.
Seethapathy, S and Henderson, J H (2017) Management of construction waste in nuclear and thermal power plant projects in India. Journal of Construction in Developing Countries, 22(S1), 19-46.
Tadayon, M, Jaafar, M and Nasri, E (2012) An assessment of risk identification in large construction projects in Iran. Journal of Construction in Developing Countries, 17(S1), 57-69.
Venkateswaran, C B and Murugasan, R (2017) Time delay and cost overrun of road over bridge construction projects in India. Journal of Construction in Developing Countries, 22(S1), 79-96.