Malaysia floods caused nearly $2 billion in losses

KUALA LUMPUR - Floods that had devastated much of Malaysia in recent weeks have caused an estimated RM6.1 billion (S$2 billion) in overall losses, a government report said on Friday (Jan 28).

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.

In a special report on the floods' impact, the Department of Statistics said damage to public assets and infrastructure caused losses of RM2 billion, followed by RM1.6 billion in damage to homes.

Manufacturing losses accounted for RM900 million, 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.

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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.

Malaysia's government has previously said it would provide about RM1.4 billion ringgit in cash aid and other forms of relief to those affected by the floods.