Latest news with #SarawakConsolidatedIndustriesBerhad
Borneo Post
29-04-2025
- Business
- Borneo Post
SCIB accepts RM49 mln Islamic financing from MIDF to support new Demak Laut factory
Ku Chong Hong KUCHING (April 29): Industrialised building systems specialist Sarawak Consolidated Industries Berhad (SCIB) announced that its indirect wholly-owned subsidiary, SCIB Concrete Manufacturing Sdn Bhd (SCM), has accepted three letters of offer (LO) from Malaysian Industrial Development Finance Berhad (MIDF) for a total financing amount of RM49 million under the Islamic Soft Financing Scheme for Automation and Modernisation (SFSAM-i). This strategic financing package will support the company's development of its new manufacturing facility located at Demak Laut Industrial Park Phase 11B (Stage 2) here. The RM49 million financing will cover three core components critical to the new facility's establishment. A portion of RM13.6 million will be used to part-finance the acquisition of five industrial plots situated at Muara Tebas Land District. Additionally, RM20 million will be allocated to part-finance the construction of the new factory, which will include facilities such as an office block, store, workshop, and factory production areas. The remaining RM15.4 million will be channelled towards part-financing the acquisition of new, high-capacity machinery to support the modernisation and automation of the manufacturing processes. 'This financing package from MIDF is a significant milestone in our growth journey. It not only supports our ongoing expansion plans but also reinforces our commitment to modernising our manufacturing capabilities through automation,' said SCIB managing director Ku Chong Hong. 'The development of our new facility in Demak Laut will substantially enhance our production efficiency, capacity and ability to serve large-scale infrastructure projects across East Malaysia and beyond.' The establishment of the new manufacturing facility, together with the acquisition of advanced machinery, will enable SCIB to significantly broaden its conventional product range and enhance production efficiency. This expansion positions the company to meet the growing demand for high-quality, locally manufactured building components, particularly as Malaysia accelerates the rollout of major infrastructure projects.
Borneo Post
24-04-2025
- Business
- Borneo Post
SCIB clarifies lawsuit against Awana JV Suria Saga not entirely withdrawn
Ku Chong Hong KUCHING (April 24): Sarawak Consolidated Industries Berhad (SCIB) clarified today that it has not entirely withdrawn its lawsuit against Awana JV Suria Saga Sdn Bhd (Awana). The industrialised building systems specialist said the legal reliefs previously sought under a separate suit have been consolidated into a broader legal action (the main suit). 'The amended statement of claim, filed on April 18, integrates the RM19.72 million recovery claim into the main suit to streamline proceedings and facilitate a more efficient litigation process,' SCIB said in a statement. The statement was issued in response to a media report yesterday concerning the discontinuation of the legal suit involving its wholly-owned subsidiary SCIB Properties Sdn Bhd (SCIBP) and Awana. SCIB affirmed that the discontinuation of the separate action does not reflect a withdrawal or abandonment of its claim. The company said it represents a strategic legal approach to pursue the matter more effectively under a single consolidated suit. 'We would like to assure our shareholders and stakeholders that SCIB remains fully committed to recovering the RM19.72 million from Awana,' said SCIB managing director Ku Chong Hong. He said the consolidation of claims into a single legal action is a procedural refinement that enables SCIB to pursue its rights more efficiently and with greater legal clarity. 'There has been no compromise to the substance or seriousness of our position. We will continue to act in the best interest of the company and ensure transparency throughout this process,' he said. The statement said SCIB pledged to remain committed to upholding its legal rights and continue to act in the best interests of the company and its shareholders. 'The board assures that it will provide timely updates on any material developments related to this matter,' added the statement.
Yahoo
27-02-2025
- Business
- Yahoo
Sarawak Consolidated Industries Berhad Second Quarter 2025 Earnings: EPS: RM0.002 (vs RM0.001 in 2Q 2024)
Revenue: RM49.8m (up 31% from 2Q 2024). Net income: RM993.0k (up 17% from 2Q 2024). Profit margin: 2.0% (down from 2.2% in 2Q 2024). The decrease in margin was driven by higher expenses. EPS: RM0.002 (up from RM0.001 in 2Q 2024). All figures shown in the chart above are for the trailing 12 month (TTM) period Sarawak Consolidated Industries Berhad shares are down 5.3% from a week ago. What about risks? Every company has them, and we've spotted 1 warning sign for Sarawak Consolidated Industries Berhad you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
