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EEI Corporation - 2003 EEI www.eei.com.ph In 2003, the Philippine construction sector experienced a contraction of the industry. As there were external factors like the US-Iraq war and the SARS outbreak during that year, which affected not only the Philippines but also the whole world, several local factors contributed to the slump in the construction sector during 2003. Some of the local factors included large budget deficits from the government, which affected public sector construction projects. Despite the grow of the private construction sector, its was not enough to compensate the damage done by the drop of the public construction sector. EEI Corporation, which was just recovering from its sudden downfall in 1999, experienced the negative effects of this slump, recording a net loss of about PhP 583 million. The niche market of the company, private investments in capacity expansion of manufacturing and industrial corporations, continued to decline in view of the fall in...

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