SCIB keeps RM1.5bil order book target, as Q1 profit soars  


SCIB's industrial building system plant in Kuching, Sarawak

KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) said it is on track to achieve an internal target to secure RM1.5bil worth of contracts this year after the company reported a strong first quarter results.

"At present, the Group has secured RM1.1bil order book of works which can be translated into earnings for this and next financial years," SCIB said in a filing with Bursa Malaysia today.

Net profit in the three-month ended March 31 jumped to RM4.2mil, 4.98 sen a share compared with RM1.6mil, or 1.85 sen a share made a year ago.

Revenue increased three-fold to RM51.78mil from RM17.4mil previously.

In Sarawak, the company controlled by Serba Dinamik Holdings Bhd founder Datuk Mohd Abdul Karim Abdullah, is eyeing several upcoming state-funded infrastructure development projects.

"Banking on strong foothold established in the state, the Group is hopeful of tapping its localised advantage to provide supports for the development projects," it said.

Outside of Malaysia, the group is eyeing to broaden its markets in Indonesia, Oman, Qatar and UAE based on the management’s experiences and networks.

"There are several construction jobs opportunities have been sighted not only from neighbouring country following the relocation of capital from Jakarta to Kalimantan, but also the infrastructure requirements from Qatar for hosting the FIFA World Cup and from UAE for organising the World Expo, as well as the development of Special Economic Zone which has attracted the international investment flow into Oman," it said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

SCIB

   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Business News

Future of finance is in wealth management, retail trading
China shares end flat as healthcare losses offset gains in property stocks
Biden will not immediately remove Phase 1 trade deal with China
Govt's 4 entites to improve economy of Bumiputeras
Ranhill to undertake due diligence on Indah Water Konsortium
Bioalpha signs health supplement manufacturing deal with Ritamix
Perodua hits record daily sales of 5,027 cars on Nov 30
KLCI takes pause on slight profit-taking
More details on financial help for Covid-19 hit SMEs
MIDF Research upgrades banks to positive from neutral

Stories You'll Enjoy