Sarawak Consolidated Ind Bhd (SCIB)

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SCIB posts RM12.2mil profit in March quarter

SCIB buys Kencana Precast in expansion plan
SCIB accepts RM120mil Prima contract

KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB), a company controlled by Datuk Mohd Karim Abdullah, made a net profit RM12.2mil on revenue of RM175mil for three-month ended March 31.

Similarly. in May both SCIB and Karim's flagship Serba Dinamik Holdings Bhd have changed their financial year end from Dec 31 to June 30.

The two companies cited Covid-19 difficulties that hampered their abilities to finalise financial accounts as reasons for the change.

SCIB is one of the largest precast concrete and Industrialised Building System in Sarawak and Sabah.

"With the contract announced in first quarter of 2021, SCIB’s order book value on hand stood at RM2.4bil," it said in a filing with Bursa Malaysia today, adding that this would give the company's earnings visibility up to 2030.

Source: The Star

https://www.thestar.com.my/business/bus ... ch-quarter

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CEO Rosland Othman trims stake in Sarawak Consolidated Industries

by Justin Lim

(CEO) Rosland Othman has disposed of 10.16 million shares, or a 2.07% stake, in the group for RM4.88 million.

Following the disposal, Rosland holds 26.14 million shares or a 5.33% stake in SCIB.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... industries

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Quarterly Results

Revenue: RM 162m
Losses" RM 20m
NAV: RM 0.31
https://www.bursamalaysia.com/market_in ... id=3197444

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SCIB terminates six EPCC contracts in Qatar and Oman to mitigate long-overdue debts risk

by Tan Siew Mung

Mutually terminate the contracts previously awarded to SCIB and its wholly-owned subsidiary company SCIB International (Labuan) Ltd between Oct 25, 2019 and Dec 3, 2020.

According to SCIB, the total amount owed by the clients stood at US$148.71 million (RM617.22 million), while the total amount owed to the subcontractors stood at US$135.15 million (RM560.94 million).

The termination of contracts will not have any material effect on the gearing, earnings per share and net assets of SCIB for the financial year ending June 30, 2022.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... debts-risk

[winston]

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SCIB terminates six EPCC contracts in Qatar and Oman to mitigate long-overdue debts risk

by Tan Siew Mung

Mutually terminate the contracts previously awarded to SCIB and its wholly-owned subsidiary company SCIB International (Labuan) Ltd between Oct 25, 2019 and Dec 3, 2020.

According to SCIB, the total amount owed by the clients stood at US$148.71 million (RM617.22 million), while the total amount owed to the subcontractors stood at US$135.15 million (RM560.94 million).

The termination of contracts will not have any material effect on the gearing, earnings per share and net assets of SCIB for the financial year ending June 30, 2022.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... debts-risk

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LETTER OF AWARD AND ACCEPTANCE FOR ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING CONTRACT

The estimated contract value of the contract awarded is RM63,912,087.38 (Ringgit
Malaysia: Sixty-Three Million Nine Hundred Twelve Thousand Eighty-Seven and Sen
Thirty-Eight Only).

https://www.bursamalaysia.com/market_in ... id=3208591

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SCIB posts net loss of RM2.7mil in 1Q on operational and initial mobilisation costs

by Seah Eu Hen

Its loss per share stood at 0.54 sen while its revenue stood at RM26.49 million.

Compared with its immediate preceding quarter ended June 30, 2021, its net loss had narrowed from RM19.55 million while its revenue had plunged 83.6% from RM161.53 million.

“Revenue in the current quarter was significantly lower mainly attributable to no revenue contribution from the overseas projects due to the termination of contracts in Qatar and Oman.

Order book value standing at RM1.3 billion as of November 2021 which translates to an earnings visibility up to 2026.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... tion-costs

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SCIB releases annual report; resumes trading on Jan 19

KUALA LUMPUR: Sarawak Consolidated Industries Bhd’s (SCIB) shares will be resumed trading on Jan 19 following the release of its annual report 2021.

In a statement, SCIB said it had submitted its annual report 2021 which included the annual audited financial statements (AFS) together with the directors’ reports for the accumulated 18 months of the financial period ended June 30, 2021 (FPE 21).

The company has been suspended since Nov 9, 2021 after it failed to issue its annual report for the financial year ended June 30, 2021 (FY21) by November 8, 2021.

“Currently, our target market for business growth is focusing on the concessions of roadwork maintenance projects across Malaysia, housing development projects including PR1MA and Perumahan Penjawat Awam Malaysia (PPAM) contracts and water treatment plant projects,” he said.

“We hope to reinstill our shareholders' confidence in us, as we believe that SCIB is prepared to grab any business opportunities that will emerge this year, further improving our existing RM1.2bil order book,” Rosland said.

Source: The Star

https://www.klsescreener.com/v2/news/view/938869

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SCIB bags RM36m EPCC contract in Sarawak

by Izzul Ikram

SCIB said the EPCC contract is for road infrastructure projects in Sarawak and is expected to span from May 2022 to April 2023.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... ct-sarawak

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SCIB secures EPCC contract worth RM38mil

KUALA LUMPUR: Sarawak Consolidated Industries Bhd has secured an RM38mil engineering, procurement, construction and commissioning (EPCC) contract.

In a filing with Bursa Malaysia, SCIB said its wholly-owned subsidiary SCIB Properties Sdn Bhd accepted the letter of award from Masama Sdn Bhd.

The contract is for a proposed new road from Baleh Bridge/RH. Belaja, Ng. Benin/ SK. Ng. Pelagus/ Pelagus Resort (Phase1 – Section 1), Daerah Kapit, Sarawak.

Source: The Star

https://www.thestar.com.my/business/bus ... th-rm38mil