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SCIB Terminates Indonesian Project

KUCHING, MALAYSIA, Feb 14, 2023 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company's wholly-owned subsidiary, SCIB International (Labuan) Ltd. (SCIBILL), has issued a notice of termination to PT Cipta Multi Sarana (PTCMS) for the proposed engineering, procurement, construction and commissioning (EPCC) project involving earthworks for the Prabumulih-Muara Enim tolled road located in Sumatera, Indonesia valued at RM55.59 million.Group MD and CEO of SCIB, Encik Rosland bin OthmanSCIBILL, which accepted a letter of award for the EPCC project on 18 August 2020 from PTCMS, has decided to take the necessary measures to protect its interests following the lack of progress in the project arising from uncertainties related to the COVID-19 pandemic and in view of the initiatives being taken to review and update SCIB's order book records.SCIBILL and PTCMS have mutually agreed to terminate the contract and unconditionally release and indefinitely discharge both parties from all claims, liens and obligations of every nature arising out of or in connection with the performance of the works and all amendments thereto, provided that the parties' obligations under a settlement agreement are fulfilled.Group Managing Director of SCIB, Encik Rosland bin Othman said, "The termination is in the best interests of the Company as there has been no progress on the project. On the part of PTCMS, it has acknowledged that there are no penalties or liquidated ascertained damages on SCIBILL."Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

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SCIB and Bintai Kinden in Strategic Alliance

KUALA LUMPUR, Feb 7, 2023 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company had on 6 February 2023 signed a Memorandum of Understanding (MoU) with Bintai Kinden Corporation Berhad to establish a strategic alliance for exploring of business opportunities, securing of new projects and sharing of profits.Group Managing Director of SCIB, Encik Rosland bin OthmanExecutive Director of SCIB, Mr. Ku Chong HongExecutive Director of Bintai Kinden, En. Azri AzeraiThe MoU is a preliminary step the parties are taking as they explore a working relationship and cooperation to combine skills, expertise, capabilities, experience and collectively bid for projects in Malaysia and to set out the principal terms of the arrangement between the parties.The JV vehicle to be used is SCIB's wholly-owned subsidiary, SCIB Infraworks Sdn. Bhd in which SCIB will retain a 51% stake in the JV while Bintai Kinden will subscribe to the remaining 49%. Bintai Kinden is a mechanical and electrical ("M&E") engineering services specialist listed on the Main Market of Bursa Malaysia, with unique combination of extensive regional experience and local knowledge.Group Managing Director of SCIB, Encik Rosland bin Othman said, "We welcome this strategic alliance with Bintai Kinden as both parties can leverage each other's strengths and expertise that add value to any projects we are involved in together. SCIB's manufacturing arm, the leading precast concrete and Industrialised Building System products manufacturer in East Malaysia, is already supporting our construction arm in projects throughout the country.""Our focus on small-to-mid-sized construction healthcare, educational and utility facilities as well as rural infrastructure projects together with investment in technology such as 3D printing and automation are also strengths that we can leverage on for the future JV projects."Executive Director of SCIB, Mr. Ku Chong Hong said, "This JV brings together two teams with core expertise and knowledge in construction and engineering that will give an edge to projects undertaken together. We expect to see more infrastructure projects in the pipeline as Malaysia's construction sector gains momentum on the back of economic growth."Executive Director of Bintai Kinden, En. Azri Azerai said, "We look forward to a fruitful partnership with SCIB as we seek opportunities together across the country. Bintai Kinden's core expertise is M&E services, and as a multi-disciplined building and industrial service engineers and specialists, we work in all the major market sectors, from commercial buildings to industrial complexes. We design, install and commission systems that include the full range of engineering services which we believe can complement the JV."Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

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SCIB Enforces Rights to Withdraw from Project

KUCHING, MALAYSIA, Jan 27, 2023 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company has issued a letter of withdrawal to Kencana Healthcare Sdn. Bhd. (KHSB) for the proposed engineering, procurement, construction and commissioning (EPCC) contracts involving a specialist hospital project located in Johor Bahru.Group MD and CEO of SCIB, Encik Rosland bin OthmanSCIB had accepted a letter of award from KHSB dated 13 August 2021 for EPCC contracts involving the capital equipment procurement as well as the leasing concession for the procurement, supply, installation, testing and commissioning of medical equipment. SCIB and KHSB have mutually agreed to the Company withdrawing from the project.As part of the withdrawal from the project, KHSB will reimburse under a settlement agreement, the commitment fee amounting to RM1.65 million that SCIB had paid out in two tranches. The withdrawal from the contracts will not have any material effect on the gearing, earnings per share and net assets of the Company for the financial year ending 30 June 2023.Group Managing Director of SCIB, Encik Rosland bin Othman said, "The Company is enforcing its rights under the contracts and taking the necessary measures to protect SCIB's interests in mitigating the risks arising from the long delay or non-movement of project progress due to the uncertainties and inability to secure the necessary operator for the project. Additionally, this decision was made due to reviewing and updating our order book records to reflect the current situation."Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

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SCIB Concludes 46th AGM Successfully

KUCHING, MALAYSIA, Dec 8, 2022 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) held the Company's 46th AGM virtually today in which shareholders voted to reappoint NEXIA SSY PLT as the auditor and authorised the directors to fix its remuneration.Group MD and CEO of SCIB, Encik Rosland bin OthmanShareholders also passed a resolution authorising the issuance and allotment of shares pursuant to Sections 75 and 76 of the Companies Act 2016 while waiving their pre-emptive rights.The resolutions to re-elect Dato' Dr. Ir. Ts. Mohd Abdul Karim bin Abdullah and Datu Haji Abdul Hadi bin Datuk Abdul Kadir to the board of directors were not tabled as they retired effective 8 December 2022. Other resolutions passed included the reappointments of eligible directors up for re-election.Group Managing Director of SCIB, Encik Rosland bin Othman, said, "We are happy to engage with our shareholders virtually in the AGM today and answer their questions. On behalf of SCIB, I would like to thank them for having placed their trust and confidence in us at what has been a challenging period. We would also like to thank both Dato' Dr. Ir. Ts. Mohd Abdul Karim and Datu Haji Abdul Hadi for their years of leadership and dedication to SCIB.""I can confidently say that the Company is looking forward to 2023 following the measures we have adopted focusing on our strengths and ensuring our resilience in the face of changes in the construction industry."Among the measures the Company took is a kitchen-sinking exercise pertaining to the recent cancellation of four projects as well as the settlement agreement over six projects in Qatar and Oman. These measures were taken to safeguard the Company's interests. In respect of the cancellation of the five projects, the decision was taken after reviewing and updating the Company's order book records to reflect the current situation while, in respect of the projects in Qatar and Oman, there is no financial impact to the trade receivables."In regards to the outlook, as East Malaysia's leading precast concrete and Industrialised Building System (IBS) manufacturer, we expect Sarawak Economic Development Corp's successful tender of the RM448 million System Package Two contract for the Kuching Urban Transportation System project phase one to have positive impact for the state economy while the announcement of the RM50 billion MRT3 project will spur demand for civil engineering services and building materials as well as give a much needed boost to the nation's construction sector.""We intend to leverage on our strengths as a leading precast concrete and IBS manufacturer to seek opportunities for our engineering, procurement, construction and commissioning (EPCC) business where we specialise in small-to-mid-sized projects for water, electricity, roads, health and education infrastructure. SCIB's geographical scope expanded to Peninsular Malaysia in recent years and we are also seeking EPCC opportunities in neighbouring Kalimantan in which our manufacturing business can play a pivotal role. To ensure business sustainability, we have also adopted technology such as 3D printing for construction as we transform to meet the challenges of the present and the future."As of 30 November 2022, SCIB has an order book of RM564.7 million with earnings visibility until 2026.Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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SCIB Posts 14.5% Increase in Revenue to RM30.3 Million in 1Q FY2023

KUCHING, MALAYSIA, Nov 30, 2022 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company registered a 14.5% increase in revenue to RM30.3 million for the first quarter ended 30 September 2022 (1Q FY2023) compared with RM26.5 million in the corresponding quarter of the previous financial year (1Q FY2022).Group MD and CEO of SCIB, Encik Rosland bin OthmanIndependent Non-Executive Chairman, Encik Shamsul Anuar bin Ahamad IbrahimFor the quarter under review, SCIB's loss before tax (LBT) narrowed by 65.3% to RM942,000 compared with LBT of RM2.7 million in 1Q FY2022.On a segmental basis, revenue contribution from manufacturing increased 26.8% to RM24.2 million in 1Q FY2023 compared with RM19.1 million in the corresponding quarter of the previous financial year while revenue contribution from the engineering, procurement, construction and commissioning (EPCC) business decreased 16.9% to RM6.2 million from RM7.4 million.Group Managing Director of SCIB, Encik Rosland bin Othman, said, "The manufacturing business continues to be the mainstay in the quarter under review. It has also returned to profitability as there was a profit before tax of RM1.0 million compared with LBT of RM217,000 in 1Q FY2022 mainly attributable to the increase in revenue and contribution margins from the sales of concrete products and lower administrative expenses. The EPCC business saw a slight decline and while there was a loss, profitability actually improved as a result of lower administrative expenses.""We remain cautiously optimistic as we leverage on our strengths as the largest precast concrete and Industrialised Building System (IBS) manufacturer in Sarawak and Sabah to continue seeking opportunities in Peninsular Malaysia and Indonesia focusing on small-to-mid-sized infrastructure for water, electricity, roads, health and education projects.Chairman of SCIB, Encik Shamsul Anuar bin Ahamad Ibrahim added, "We view favourably Sarawak Economic Development Corp's successful tender of the RM448 million System Package Two contract for the Kuching Urban Transportation System project phase one as such projects have positive spillover for the state economy.""The Company recently unveiled an IBS sample house built with 3D printer technology to showcase the important role technology has and will continue to have in the construction industry. These technology initiatives will play an increasingly important role for us as we transform to meet the challenges of the present and the future," En. Shamsul Anuar said.The Company also announced separately on the stock exchange that SCIB and its wholly-owned subsidiaries, SCIB International (Labuan) Ltd., SCIB Properties Sdn. Bhd. and SCIB Industrialised Building System Sdn. Bhd, have issued notices of termination to four clients to mutually terminate contracts with them.En. Rosland said, "The Company is enforcing its rights under the contracts and taking the necessary measures to protect SCIB's interests in mitigating the risks arising from the long-overdue debts owing by the clients or the slow or non-movement of progress for projects that these clients have undertaken due to uncertainties arising from the COVID-19 pandemic as well as the economic and political situations. We also made this decision after reviewing and updating the Company's order book records to reflect the current situation."As of 30 November 2022, SCIB has an order book of RM564.7 million with earnings visibility until 2026.Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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SCIB Announces Changes at Board Level

KUCHING, MALAYSIA, Oct 25, 2022 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (Bursa: SCIB, 9237) today announced Encik Shamsul Anuar bin Ahamad Ibrahim be redesignated as Independent Non-Executive Chairman with immediate effect.Encik Shamsul Anuar bin Ahamad Ibrahim, SCIB's new Independent Non-Executive ChairmanEncik Shamsul Anuar said, "I am delighted on the redesignation and I look forward to working even more closely with the team in our journey to transform SCIB to a better, stronger and more sustainable business through our expansion to Peninsular Malaysia and more recently, our exploration into projects in neighbouring Kalimantan, Indonesia.""We welcome Encik Shamsul Anuar as our new Chairman and look forward to working with him to grow SCIB. His experience in state-owned enterprises will be invaluable to us," Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said.Encik Shamsul Anuar, a fellow of the Association of Chartered Certified Accountants and member of the Malaysian Institute of Accountants, was first appointed to the board of the Company on 1 September 2015. He is a member of SCIB's Audit Committee and Remuneration & Nomination Committee as well as Chairman of the Risk Management Committee.He is currently the Group Corporate Affairs General Manager of Permodalan ASSAR Sdn. Bhd., the holding company of Amanah Saham Sarawak Bhd, a state-owned investment company with a portfolio of investments in financial services, agriculture and resource-based, property development and construction, services and technology, manufacturing, trading and others. He also sits on the BOD of Transnational Insurance Brokers Sdn. Bhd.Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Sarawak Consolidated Industries Berhad Appoints Directors

KUCHING, MALAYSIA, Sep 15, 2022 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) is pleased to announce the redesignation of Mr. Ku Chong Hong as Executive Director and the appointments of En. Mohd. Shakir bin Shahimi and En. Nuraiman Shaiful bin Annuar as Independent Non-Executive Directors (INED), effective today.Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin OthmanMr. Ku Chong HongEn. Mohd. Shakir bin ShahimiEn. Nuraiman Shaiful bin AnnuarMr. Ku, who was appointed to the board of directors on 17 March 2022 as an INED, has experience in audit and assurance, and business advisory-related fields through various local and international companies involved in a range of industries from property and construction to software.En. Mohd. Shakir will replace Ku as chairman and member of the audit committee. A chartered accountant, he graduated with a degree in accountancy from Universiti Utara Malaysia and is a member of the Malaysian Institute of Accountants. He was an auditor with Arthur Andersen & Co and has experience auditing public-listed and privately-held companies. He is currently an audit manager with Khairuddin Hasyudeen & Razi. He is also an INED with Bintai Kinden Corporation Berhad, where he is chairman of the nomination, remuneration and risk management committees as well as member of the audit committee.En. Nuraiman has attended the International Bachelor of Business Administration Programme from Hult International Business School, London United Kingdom in year 2017. He has experience in the oil and gas as well as construction fields. He holds directorships in Hipro Technologies Ltd and Petro Flanges and Fittings Sdn Bhd.Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, "We welcome En. Mohd Shakir and En. Nuraiman aboard and look forward to their guidance and advice. Their experience and knowledge will be a good addition to the board while enhancing our governance decision-making structure. We would also like to congratulate Mr. Ku in his redesignation as Executive Director. His insights and knowledge will be invaluable in helping us grow the Company."About Sarawak Consolidated Industries BerhadSarawak Consolidated Industries Berhad (SCIB) was founded in 1975 and has evolved from a small enterprise into a reputable Group of companies listed on the Main Market of Bursa Malaysia Securities Berhad. Currently, SCIB is operating three factories in Kuching, Sarawak, one factory in the Pending Industrial Estate and two factories in the Demak Laut industrial park.SCIB is well known for professional management and has long history of innovative ideas and technological advances. Coupled with its wealth of experience and research acquired in more than three decades, SCIB offers its clients in-depth expertise through a combination of technology, efficiency and speed. For more information, visit scib.com.my.Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Sarawak Consolidated Industries Berhad Posts RM26.2 Million Revenue in 4Q

KUCHING, MALAYSIA, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company recorded revenue of RM26.2 million for the fourth quarter ended 30 June 2022 mainly due to higher sales volume of foundation piles from the manufacturing division.Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin OthmanFor the quarter under review, the Company registered a loss before tax (LBT) of RM45.9 million mainly due to net impairment loss in trade and other receivables of RM18.0 million as well as expenditure incurred in various project-related activities of RM25.0 million from the engineering, procurement, construction and commissioning (EPCC) division.For the financial year ended 30 June 2022, the Company registered revenue of RM128.4 million and a LBT of RM52.0 million. There are no comparisons for the quarter and full financial year as the Company has changed the financial year-end from 31 December as previously announced to Bursa Malaysia Securities Berhad on 24 May 2021.Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, "We are cautiously optimistic as the domestic economy continues to improve with the 8.9% growth year-on-year for the second quarter ended 30 June 2022. The announcement of the RM50.0 billion MRT3 project and the continuation of other large civil infrastructure projects is also contributing positive impacts to the construction sector and businesses like ours as we will certainly leverage on our manufacturing and EPCC expertise to seek opportunities.""We have made inroads into Peninsular Malaysia focusing on small to mid-sized projects and we are exploring opportunities in Indonesia for the construction of 4G telecommunications infrastructure as well as how we can leverage our manufacturing facilities for the new Indonesian capital at Nusantara in Kalimantan. SCIB will continue to seek projects in Sabah and Sarawak in which RM5.2 billion and RM4.6 billion were allocated respectively under Budget 2022. We are also exploring the use of technologies such as the 3D printing system and automation as part of the next phase of growth in the construction industry."As of 30 June 2022, SCIB has an order book of RM1.52 billion with earnings visibility until 2026.Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Sarawak Consolidated Industries Berhad Welcomes New Batch of Trainees for Industrial Training

KUCHING, MALAYSIA, Jun 15, 2022 - (ACN Newswire via SEAPRWire.com) - Sarawak Consolidated Industries Berhad (SCIB), a civil engineering specialist, is pleased to welcome a new batch of trainees from Institut Latihan Perindustrian Kota Samarahan (ILPKS), Sarawak, to the Company for physical training as part of the industrial training programme in their final year.Rosland bin Othman, Managing Director and Chief Executive Officer of SCIBILPKS was established by the Department of Manpower under the Ministry of Human Resources in 1999, to meet the needs of Malaysia's skilled workforce by providing vocational training at the intermediate level with specialisation in high-tech fields and in-line with the need for technological developments in the manufacturing sector.The trainees were accepted into the programme following a Memorandum of Understanding (MoU) signed between the SCIB and ILP Kota Samarahan in October 2020. The MoU gives opportunities for industrial students to undergo training; offers industrial instructors places for industrial attachment training; offer job opportunities to qualified Institut Latihan Jabatan Tenaga Manusia graduates and offers short-term courses to SCIB employees who want to upgrade their skills.At the ILPKS Convocation Ceremony today, Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, "Professional management on human capital is what we strive to do in SCIB. The younger generations are the future of any institution and even the country and that is why we must focus on the youth as they are the foundation of our society.""We provide them with a platform to learn and grow, thus giving them better understanding of their craft and the industry. Employment shall be given to promising students as well. We also believe that providing opportunity for our employees to expand their knowledge, expertise and experience with the course."Over the years, SCIB has trained approximately 179 trainees with specific skillsets such as engineering, accounting, business management and construction, while pursuing their certification, diploma and degree. These skillsets allowed the trainees to be employed in their chosen careers. Several trainees had the opportunity to be a part of the SCIB family.Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], scib@scib.com.my, http://scib.com.my Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Sarawak Consolidated Industries Bhd Provides Further Clarification on LOA from Ennova

KUALA LUMPUR, Jun 13, 2022 - (ACN Newswire via SEAPRWire.com) - Sarawak Consolidated Industries Bhd (SCIB), a civil engineering specialist, wishes to clarify further on the Letter of Award dated 7 June 2022 (LoA) granted by Ennova Sdn Bhd appointing SCIB Properties Sdn Bhd (SCIBP) as a sub-contractor to undertake an engineering, procurement, construction and commissioning contract in connection with the Integrated Smart Lamp Pole Replacement project for Dewan Bandaraya Kuala Lumpur (DBKL).Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin OthmanIn addition to the information furnished in the LoA, Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, noted that SCIBP's scope of work included but is not limited to site clearing, excavation and reinforced concrete footing structure, laying all reinforcement concrete, bolts and nuts, and plates on all mild steel structures, with the poles, fittings and accessories to be supplied by Ennova."The scope also includes perimeter chain-link fencing works, mild steel gates and erection; earthworks, levelling, setting out, making point, and other related works; mechanical and engineering works such as wiring, switch boxes, connection to conduits, lay ground earth cable and rem as well as installation of monopole."Ennova is to bear all construction cost of the poles, including the rental of each erected pole in accordance with the agreed rental price between it and DBKL."We are unaware of any funding or financing arrangement for the contract by DBKL."Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], scib@scib.com.my, http://scib.com.my Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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