Kuching, July 4: Sarawak Consolidated Industries Berhad (SCIB), a renowned civil engineering specialist, is pleased to announce that its subsidiary, SCIB Industrialised Building System Sdn. Bhd. (SCIB IBS), has been appointed as the principal subcontractor for a significant housing development project in Kelantan Darul Naim.
Under the project led by SPP Development Sdn. Bhd., a subsidiary of Perbadanan Kemajuan Iktisad Negeri Kelantan (PKINK), SCIB IBS will oversee the construction of 35 single-story terrace houses and 12 double-story terrace houses in the Bachok region of Kelantan. The contract, valued at RM8,257,000.00, was awarded to MinDagang Resources Sdn. Bhd. as the main contractor, with SCIB IBS playing a key role as the principal subcontractor.
Today, SCIB IBS received the Letter of Award from MinDagang Resources Sdn. Bhd., marking a significant milestone for the company. This project, supported by the RM400 million federal grant for state housing, not only ensures secure payment but also reinforces SCIB’s growing reputation within the industry.
The successful execution of this housing development will enhance SCIB’s financial stability and pave the way for future growth opportunities, creating long-term shareholder value. Furthermore, this collaboration with state government entities not only strengthens SCIB’s reputation but also opens doors to new prospects for the SCIB group. These strategic initiatives align with the company’s goal of sustaining profitability while delivering value to stakeholders, thereby enhancing SCIB’s financial resilience in a competitive marketplace.
Ku Chong Hong, the Managing Director of SCIB, expressed his satisfaction with this achievement, stating, “Being selected as the principal subcontractor for this housing project is a testament to our strong capabilities in the construction sector. We are committed to delivering exceptional work and building stronger relationships with state government entities for future projects.”
As of the end of 3QFY2023, SCIB’s order book stood at a cumulative contract value of RM495.3 million.
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