SCIB Secures RM16.8 Million Contract For Projek Pembinaan Pangkalan Pasukan Gerakan Udara PDRM Sarawak

SCIB’s Subsidiary Embarks on a Notable Engagement with S & I Urban Designers Sdn. Bhd.

KUCHING, SARAWAK, 4 DECEMBER 2023 – Industrialised building systems specialist, Sarawak Consolidated Industries Berhad (“SCIB” or the “Company”), is pleased to announce the Company’s wholly-owned subsidiary, SCIB Industrialised Building System Sdn. Bhd. (“SIBS”) on 4 December 2023, the subsidiary accepted a Letter of Award and Acceptance (“LOA”) for a substantial contract works from S & I Urban Designers Sdn. Bhd. worth RM16.8 million, underlining SCIB's growing influence in the construction and EPCC sector in Malaysia.

The contract involves the supply and delivery of precast components for the apron and taxiway of Projek Pembinaan Pangkalan Pasukan Gerakan Udara PDRM Sarawak. This project, encompassing both design and construction elements, is scheduled to run from 5th December 2023 through 4 October 2024, a period of 10 months.

Mr. Ku Chong Hong, Group Managing Director of SCIB, expressed enthusiasm about this new venture, “This contract is a testament to SCIB's capabilities and our commitment to delivering high-quality, efficient building solutions. Our expertise in industrialised building systems positions us uniquely to contribute significantly to this prestigious project. We are delighted to collaborate with S & I Urban Designers Sdn. Bhd. and are confident that this partnership will yield excellent results, further enhancing our reputation in the industry.”

This project represents a significant step for SCIB in expanding the Company’s portfolio in the construction and EPCC sector, while demonstrating the ability to secure and deliver on large-scale and high-value projects. SCIB looks forward to contributing to the success of the Projek Pembinaan Pangkalan Pasukan Gerakan Udara PDRM Sarawak, and to further strengthening the Company’s position as a key player in the industry.

With this new contract, SCIB's order book balance now stands at RM273.99 million, further bolstered by a share price of RM0.78 and a market capitalisation of RM499.4 million as at 4 December 2023, 5 P.M.