SCIB advances growth plans in Demak Laut Industrial Park
BY YVONNE TUAH ON JANUARY 28, 2024, SUNDAY AT 10:00 PMBUSINESS

KUCHING (Jan 28): Industrialised building systems specialist Sarawak Consolidated Industries Bhd (SCIB) announced the acquisition of five industrial leasehold plots in the Demak Laut Industrial Park here, a move set to significantly enhance the company’s production capabilities in line with Sarawak’s booming infrastructure development.
The acquisition, involving a total five lots of land, totalling 8.8544 hectares (approximately 21.88 acres) in the Muara Tebas Land District, represents a strategic expansion of SCIB’s operational footprint.
In a statement, it explained that the total purchase consideration for the land is RM21.6 million and shall be fully paid in cash, from combination of internally generated funds and bank borrowing. This investment marks a pivotal step in the company’s growth strategy, positioning SCIB to meet the burgeoning market demand.
SCIB group managing director Ku Chong Hong commented, “This land acquisition is a testament to our commitment to expanding SCIB’s capabilities and market reach.
“The new location at Demak Laut Industrial Park, just fifteen kilometres from Kuching city centre, is not only strategically advantageous but also provides us with the necessary space to increase our production capacity by almost 30 per cent.
“This expansion aligns perfectly with the anticipated increase in demand driven by Sarawak’s rapid infrastructure development plans in the coming years.”
He added, “While we are aware of the ongoing market fluctuations, SCIB remains steadfast in our commitment to delivering value to our shareholders.

“This investment is a clear indication of our dedication to long-term growth and profitability, ensuring SCIB continues to play a significant role in Sarawak’s industrial landscape.”
The intended use of the newly acquired land is for constructing an industrial factory to produce concrete-related products such as Spun Piles, Spun Pipes, and Reinforced Concrete Products.
The move to Demak Laut Industrial Park from the current factory at Pending Industrial Estate is a strategic decision by SCIB to leverage the larger land size for enhanced production capacity. SCIB envisages the new factory to commence construction by the second quarter of 2024, and to be completed by 1Q25, and the factory should be contributing positively to the company’s earnings from 2Q25.
SCIB is confident that this land acquisition and the subsequent increase in production capacity will significantly contribute to the company’s growth and ability to meet future market demands, thereby enhancing shareholder value in the long run.

THIS IS REAL , LEGAL AND LEGIT !!!!

Scammers advising against scammer ...what a BIG joke !

Hahaha scib forum got ghost hackers...big time scammers!

https://www.thestar.com.my/aseanplus/aseanplus-news/2024/01/28/indonesia-to-start-airport-trial-in-new-capital-nusantara-in-july

https://www.theborneopost.com/2024/01/28/scib-advances-growth-plans-in-demak-laut-industrial-park/

8.85 ha for RM21.62 million cash....woooow...SCIB cash rich

Monday come my Funds on standby ....start my engine

Malaysian Ambassador reiterates M’sia’s interest in participating in Nusantara project

JAKARTA (Dec 20): Malaysia’s Ambassador to Indonesia, Datuk Syed Md Hasrin Tengku Hussin, reiterated Malaysia’s willingness and interest to participate in Indonesia’s new capital project, Nusantara.

He said the project in East Kalimantan on the island of Borneo is a significant initiative by the Indonesian government, currently in its first phase, with additional phases to follow.
“Several Malaysian companies have submitted Letters of Intent (LOI) last year, which are currently being evaluated by the Nusantara Capital Authority (OIKN). We hope that there will be successful Malaysian companies,” he told reporters on the sidelines of the Export Acceleration Mission organised by Matrade, here.
In line with Prime Minister Datuk Seri Anwar Ibrahim’s statement regarding Malaysia’s commitment to supporting Indonesia as the chair of Asean this year, Malaysia also aims to enhance existing cooperation.
“We want to see more bilateral cooperation between Malaysia and Indonesia. Certainly, we hope Indonesia continues to be secure, progressive, and prosperous in the future,” he said.
Syed Md Hasrin believes that these efforts will be a crucial element in strengthening bilateral relations, encompassing not only government-to-government cooperation but also economic collaboration.
“Economic cooperation between Malaysia and Indonesia reached a good level last year, with bilateral trade amounting to US$30 billion. Malaysia is currently in the fifth position in terms of investment in Indonesia,” he said.
Apart from Nusantara, he mentioned numerous infrastructure projects in planning, as informed by representatives from OIKN and the Ministry of Public Works and Housing.
Syed Md Hasrin is confident that the business-to-business (B2B) meetings conducted by Matrade during the mission will contribute not only to projects in Nusantara but also throughout Indonesia.
“The participation of 24 experienced Malaysian companies today possess quality, recognition, and having proven their capabilities in projects domestically and internationally,” he said.
A total of 43 Indonesian construction companies are involved in the B2B programme with their business counterparts in Malaysia. – Bernama

Nusantara Ring Corridor: RI’ Strategy to Create New Economic Hubs

Indonesian Govt to Establish Nusantara Ring Corridor to Boost Economy
Translator

izoklse

Kesian betul YuHainTeck ni? Dari hari tu mengharap harga jatuh. Masa harga rendah tak nak beli. Bila dah naik tertinggal bas merayu harga jatuh. Aduh kesian pun ada aku tgk.

hahaha ....next bus departs to the moon lepas pkl 230pm. Dah beli tiket ke belum...cepat cepat beli !

Once 0.680 broken this Rocket will start !!!

Let the smart market forces decide ...nobody care or is interested in all your horror or scary stories

Buying bid Q building up every secs

Keep watching and waiting lowballers ...glad to sell high to you later !

Buying pressure power !!!

lowballer ....looks like selling pressure is weak !

Why need to run ...sit down relax and enjoy the uptrend show while having your breakfast

529 million shares only ...hurry hurry grab as much as possible and keep in your safe .

Opening Green Worrr....who hoping LD better wait while others make. and.l goreng higher for you to buy in ok....better late than never right ?

Cheap Sales Officially Over yesterday! Fear Of Missing Out come join in the Fun !

Ching said YNH remains optimistic on the outlook of the property sector in Malaysia and expects to continue to receive rental income of approximately RM6.4mil per annum from its current properties located in Perak.

“Our on-going property development projects including Solasta Dutamas and future property development project located in Genting Highlands, are also expected to contribute positively to our group’s financial performance in the foreseeable future,” he added.

ADVERTISING

YNH is expected to record a pro forma net gain of approximately RM61mil from the proposed disposal exercise, which is expected to improve its net assets and earnings.

Proceeds of the disposal will be utilised for repayment of bank borrowings and working capital requirements of the group as well as to pay for the said proposed disposal exercise.

YNH had earlier disclosed that the total cash consideration of RM422.5mil consists of the disposal of Kiara 163 Retail Park for RM270.50mil and AEON Seri Manjung for RM152mil.


STARPICKS
Maximise your EPF savings with voluntary...
The two assets will be satisfied by ALX entirely in cash, through the issuance of medium-term notes under a proposed asset-backed medium-term-notes programme of up to RM500mil in nominal value

https://ynhb.listedcompany.com/home.html
Reading latest QR ia believing

Huge landbank around KL golden triangle ...many developer predator targeting

Lowballers are evweywhwre careful .....later close green or even better LU all sour grapes suddenly becomes sweet grapes !

Plenty of Premium LandbankS
....yummy

At 0.60-0.65 cents a piece ? More funds coming in soon

YNH has parcels of land that are tangible. There is value to the company and unless Dr Yu arms himself with loads of cash to mop up the shares, another party may take over the reins.

Sarawak and Nusantara like JB and Sg. relationships. Abang adik

Correct this LD will be a V shaped recovery. It makes sense to for Mega Projects undertaken by reputable and capable establishment since 1975 like SCIB

https://www.hmetro.com.my/mutakhir/2023/12/1041513/nusantara-ibu-kota-baharu-indonesia

Nusantara IBU KOTA BaRU Indonesia

Nice article to read ....Mega Projects that need lots of Building materials fast and cheap to meet deadlines ...SCIB will be one that can fulfill orders ....thats why need expansion of 22 acre land to meet future demands from local and Nusantara Mega projects ....logic thinking ...recent LD just to collect cheap from margin billis ...jz my 2 cts

We all know who are the one Selling due to etc ...etc ...call but the most inportant and relevant Question is WHO is the one collecting ?

A few years ago a Mr K paid 0.70 for a lot of SCIB and even offered 1.10 to take it private .... can history repeat itself? Its a HUGE bargain now for those who wants to take over SCIB , next week observe the buying patterns next target could be past 0.40...jz my 2 cents OPI ...trade with care gais

Expect another possible TAKE OVER BID at this low price once the numbers add up . This could be a plan to LD to collect as much as possible and then announce later....lets wait and see who is the on keeps buying on DIPS nxt wk

Old news but quite infomative

Old news juz sharing. ..

Publish date: Tue, 11 Jul 2023, 08:59 AM

Abdul Karim no longer a shareholder in SCIB after forced selling of shares
KUALA LUMPUR (July 10): Sarawak Consolidated Industries Bhd’s (SCIB) former chairman Datuk Mohd Abdul Karim Abdullah has ceased to be a shareholder in the company, after having his 139.67 million shares, or 23.996% stake, disposed of due to force-selling.

Abdul Karim was the largest shareholder in the concrete product manufacturer after he acquired a 22.53% stake or 19.35 million shares for 70 sen apiece, or RM13.54 million, in May 2019.

This was followed by an attempt by Abdul Karim and other interested parties to take over the company at RM1.10 per share in August 2019, after they raised their stake to 40.84%.

Abdul Karim is also co-founder and chairman of troubled engineering group Serba Dinamik Holdings Bhd. In October last year, he was redesignated in SCIB as non-executive director, before his board exit this year when he opted against reelection.

Earlier in June, SCIB said Abdul Karim’s name was not found on the record of depositors. Prior to this, Bursa Malaysia’s latest update on Abdul Karim’s shareholding was dated Dec 8, 2022.

Around the same time in June, SCIB saw the appointment of Abang Abdillah Izzarim Abang Abdul Rahman Zohari as its new executive chairman, among a slew of boardroom changes in the company. Abang Abdillah is the son of Sarawak premier Tan Sri Abang Abdul Rahman Zohari Abang Openg.

SCIB’s shareholding is fragmented, with no single party holding a substantial stake of at least 5%. Sarawak Economic Development Corp (SEDC) held a 4.05% stake , while Gabungan Parti Sarawak (GPS) MP and Deputy Minister Datuk Seri Huang Tiong Sii held 27.01 million shares or a 4.22% stake, according to SCIB’s annual report dated Sept 30, 2022.

Shares of SCIB peaked at RM2.67 in January 2021. However, continued losses since 2021 have weighed on the company’s shares and erased optimism. SCIB’s shares last traded at 45.5 sen on Monday, giving the group a market capitalisation of RM291.38 million.

Wow nice V rebound for Mersec and Leform from red to green happening now ....possible SCIB will follow

Past valuation is game over , has to follow present and future earnings to justify its share valuation.

Even Scib Director Tan insider bought in 100k at 0.645 much higher price ...i think valuation wise i agree with joyvest ...juz need to keep the dust settled before a V recovery rebound happens !

Enufd with the scary horror stories 2 days LD with no justification is enuff ....time for some action movie at 9 am !

Today Mr Ku press statement oledi give warning signals to those shortists....better give some respect and face value to our largest share holder....

CORPORATE
SCIB says Sarawak land office offered it 22 acres of land for purchase
January 17, 2024 @ 7:30pm

SCIB says Sarawak land office offered it 22 acres of land for purchase
Sarawak Consolidated Industries Bhd (SCIB) today told Bursa Malaysia Securities Bhd it has been offered 22 acres of land for acquisition, by the Land and Survey department of Sarawak.
KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) today told Bursa Malaysia Securities Bhd it has been offered 22 acres of land for acquisition, by the Land and Survey department of Sarawak.

This was in response to an unusual market activity (UMA) query Bursa Securities made on Tuesday after the company's shares came under heavy selling pressure.


Short selling in the company's shares were suspended two days in a row because its share price fell more than 15 per cent, two days straight.

It was the second most actively traded counter for the day.


SCIB's share price closed 35.93 per cent lower to 53.5 sen a share, with some 202.49 million shares changing hands.

SCIB said the letter of offer for land to expand the group's production capacity was received on Jan 4, 2024.

It told Bursa Securities the management is in the midst of discussion and considering on the acceptance of this proposal, and the board thought it more appropriate to release announcements to Bursa Securities once a decision is made.

Save for the above, the board said it is not aware of any corporate development relating to the group's business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion.

SCIB supplemented the response to Bursa Securities with a press statement to assure assures stakeholders that the company is operating as normal and remains focused on the company's strategic objectives and growth plans.

"As a publicly-traded entity, we recognise that share price volatility can occur due to various market factors. SCIB does not have any influence over its share price movements and is not aware of any specific reasons for the recent trading activity. However, it's important to note that SCIB has turned profitable in the latest financial quarter, reflecting the effectiveness of our strategic initiatives and operational efficiencies," SCIB managing director Ku Chong Hong said in a statement.

He added that SCIB is steadfast in executing its strategic plan, as evidenced by recent project wins and ongoing corporate activities.

"Our focus remains on delivering excellence in our projects, maintaining financial discipline, and pursuing growth opportunities that align with our core strengths. This commitment to our strategic direction is fundamental to our continued profitability and long-term success," Ku said.

Sometimes in life we must learn TO give and take ...not just ....

Serba Dinamik and SCIB like chicken and duck comparisons. Serba got fake contracts overseas and audit issues meanwhile SCIB mostly local genuine contracts and audit pass with flying colours ... i know some sour grapes and lowballers wants new low but 2 days LD enuff is enuff...even own MD give assurance thru press conference !

In reaffirming the Company’s commitment to transparency and shareholder value, SCIB highlights the recent achievements that underscore a robust business trajectory. Notably, these include securing a RM97.7 million EPCC contract for the University Malaysia Kelantan project, signing a critical MOU for a RM250.0 million housing project in Bintulu with Kemena City Development Sdn. Bhd. and Smart Borneo Properties Sdn Bhd, and acquiring a RM16.8 million contract for the Projek Pembinaan Pangkalan Pasukan Gerakan Udara PDRM Sarawak. These significant milestones exemplify SCIB's diverse capabilities and strategic growth in various key sectors.

This is the present and future earnings .......past is oledi over !!!

Look forward not the past ......past is over ....forward is the future!!!

Nice affirmation by the MD . Tmr the price shld rebound upwards

Buy and Keep ......Majulah Sarawak !!!

Abang Jo supporter on stand by .....will not allow newly appointed Jo Jr. to lose face ma ...

Relax SCIB already clarifys.....no negative answers to Bursa as per letter contents. This is an organized LD however this might be a good opportunity for some to collect cheap

Letter Subject or Reference - UNUSUAL MARKET ACTIVITY
Company Name SARAWAK CONSOLIDATED INDUSTRIES BERHAD
Stock Name SCIB
Date Announced 17 Jan 2024
Category General Announcement for PLC
Reference Number GA1-17012024-00025
Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-16012024-00004
Subject Letter Subject or Reference - UNUSUAL MARKET ACTIVITY
Description SARAWAK CONSOLIDATED INDUSTRIES BERHAD ("SCIB" OR "THE COMPANY") - UNUSUAL MARKET ACTIVITY
Query Letter Contents
We draw your attention to the sharp fall in price of your Company’s shares today (“trading activity”).
In light of the above and in order for investors to be able to make informed investment decisions, you are requested to respond, after making due enquiry with your directors, major shareholders and such other relevant persons, to the following queries immediately for public release in accordance with paragraph 9.11 of Listing Requirements :

1. Whether there is any corporate development relating to your Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion. If yes, kindly provide the details including status of the corporate development to enable investors to make informed investment decisions
2. Whether there is any rumour or report concerning the business and affairs of the Group that may account for the trading activity and in this respect, you are required to comply with Paragraphs 9.09 and 9.10 of Bursa Securities LR;
3. Whether you are aware of any other possible explanation to account for the trading activity; and
4. Whether you are in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa securities LR on immediate disclosure obligations.
Please note that the contents of the announcement must be endorsed by the Board of Directors of the Company and the announcement must reach Bursa Securities immediately via Bursa LINK.



Yours faithfully,

Bursa Malaysia Securities Berhad

Reference is made to the letter dated 16 January 2024 from Bursa Malaysia Securities Berhad (“Bursa Securities”) pertaining to the sharp fall in the price of the shares of Sarawak Consolidated Industries Berhad (“SCIB” or “the Company”) recently (“trading activity”). In accordance with Paragraph 9.11 of the Main Market Listing Requirements (“LR”) of Bursa Securities, the Board of Directors of SCIB (“the Board”), after having made due inquiries with all the Directors, major shareholders and such other relevant persons, wishes to inform that to the best of their knowledge, the following:



1. Whether there is any corporate development relating to your Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion. If yes, kindly provide the details including status of the corporate development to enable investors to make informed investment decisions;



The company had on 4 January 2024 received the letter of offer from the Land and Survey department of Sarawak to acquire some parcels of land measuring approximately 22 acres in size for the purpose of expanding the production capacity of the group. The management is in the midst of discussion and considering on the acceptance of this proposal. The Board believes that it would be more appropriate to release announcement(s) to Bursa Securities once the decision is made. Save for the above, the Board is not aware of any corporate development relating to the Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion.



2. Whether there is any rumour or report concerning the business and affairs of the Group that may account for the trading activity and in this respect, you are required to comply with Paragraphs 9.09 and 9.10 of Bursa Securities LR;



The Board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the trading activity.



3. Whether you are aware of any other possible explanation to account for the trading activity; and



The Board is not aware of any other possible explanation to account for the trading activity.



4. Whether you are in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa securities LR on immediate disclosure obligations.



The Company and the Board are in compliance with the LR of Bursa Securities, in particular Paragraph 9.03 of the LR of Bursa Securities on the immediate disclosure obligations.



This announcement is dated 17 January 2024.