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Tuesday, November 29, 2022
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Malaysia floods caused nearly $1.5 billion in losses

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Floods that had devastated much of Malaysia in recent weeks have caused an estimated 6.1 billion ringgit ($1.46 billion) in overall losses, a government report said on Friday.

Malaysia’s government has previously said it would provide about 1.4 billion ringgit ($334.37 million) in cash aid and other forms of relief to those affected by the floods, as stated in Reuters.

In a special report on the floods’ impact, the Department of Statistics said damage to public assets and infrastructure caused losses of 2 billion ringgit, followed by 1.6 billion ringgit in damage to homes.

Manufacturing losses accounted for 900 million ringgit, most of which were recorded in the central state of Selangor, one of the country’s wealthiest and populous regions surrounding the capital Kuala Lumpur.

Selangor was also the worst hit overall, with about half of Malaysia’s losses recorded in the state, the report said.

The department also reported heavy damage to vehicles, business premises and the agricultural sector.

Dozens of people died while more than 120,000 were displaced after unusually heavy rain caused severe flooding in multiple states in mid-December and early January.

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SourceReuters
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