SCIB wins RM97.7mil EPCC contract

KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) has secured a RM97.7mil engineering, procurement, construction, and commissioning (EPCC) contract from Landasan Kapital (M) Sdn Bhd.

The industrialised building systems specialist, in a statement, said its wholly-owned subsidiary, SCIB Industrialised Building System Sdn Bhd accepted the letter of award and acceptance (LOA) from Landasan Kapital.

The contract involves comprehensive construction responsibilities for the University Malaysia Kelantan’s new student residence at Kampus Bachok.

The project scope includes supplying materials, labour, tools, and equipment for the execution of civil and structural, architectural, and mechanical works.

Group managing director Ku Chong Hong said the contract was a significant achievement for SCIB and reinforced its reputation as a key player in the EPCC domain across Malaysia.

“Our involvement in the University Malaysia Kelantan project at Kampus Bachok reflects our expertise and commitment to delivering high-quality construction services.

“We are excited to contribute to the development of educational infrastructure in Malaysia, which is a testament to our dedication to supporting the nation’s educational advancements,” he added.

The group has an outstanding orderbook balance of RM361.7mil.

SCIB tumbled 35.5 sen, or 29.83% to 83.5 sen. It is the second most active counter on Bursa Malaysia with 230.2 million shares traded.

Meanwhile, Bursa Malaysia has slapped SCIB with an unusual market activity (UMA) query following the sharp fall in the counter’s share price.

“Investors are advised to take note of the company’s reply to the UMA query which will be posted at Bursa Malaysia’s website under the company announcement when making their investment decision,” Bursa Malaysia said.