Kuching, Jan 16: Sarawak Consolidated Industries Berhad (SCIB), a leader in industrialized building systems, announced today its wholly-owned subsidiary, SCIB Industrialised Building System Sdn. Bhd., has secured a substantial engineering, procurement, construction, and commissioning (EPCC) contract. The Letter of Award and Acceptance (LOA) with Landasan Kapital (M) Sdn. Bhd., signed on January 16, 2024, marks a major step for SCIB in major construction projects across Malaysia.
Valued at RM97.7 million, the contract involves comprehensive construction work for the new student residence at University Malaysia Kelantan’s Kampus Bachok. SCIB will be responsible for providing materials, labor, tools, and equipment necessary for civil, structural, architectural, and mechanical works, demonstrating the company’s expansive capabilities in the construction arena.
Ku Chong Hong, Group Managing Director of SCIB, expressed his excitement about this significant contract win.
“This is a substantial achievement for SCIB, reinforcing our status as a major player in the EPCC sector in Malaysia. Our role in the University Malaysia Kelantan project at Kampus Bachok reflects our expertise and dedication to delivering high-quality construction services. We are eager to contribute to the development of educational infrastructure in Malaysia, which aligns with our commitment to the nation’s educational advancements,” he said.
This contract not only showcases SCIB’s proficiency in managing large-scale construction projects but also its commitment to Environmental, Social, and Governance (ESG) principles.
By participating in the construction of educational infrastructure, SCIB is upholding its commitment to quality, efficiency, and environmentally sustainable practices.
This project is more than just about construction excellence; it’s about making a positive impact on the academic community and society at large.
SCIB views this partnership as a testament to its continuous commitment to growth and innovation in the construction sector.
As of January 16, 2024, 5 P.M., SCIB’s share price stands at RM0.835, indicating a market capitalization of RM534.6 million, with an outstanding orderbook balance of RM361.7 million.
This contract signifies a key step in SCIB’s journey, highlighting its proactive approach in pursuing collaborative ventures that align with the company’s long-term strategic objectives.
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