SCIB accepts RM120mil Prima housing contract

KUALA LUMPUR: Sarawak Consolidated Industries Bhd's (SCIB) subsidiary has acccepted a contract for Phase 1 of Rakyat 1 Malaysia housing (Prima) in Kota Bharu from AUEI Teras Holdings Sdn Bhd.

It said in a filing that the contract accepted by SCIB Properties Sdn Bhd includes two 316-unit blocks of 21-floor condominiums, a multi-purpose hall, mosque, nursery and kindergarten, guard house and 4.5-storey car park.

The contract value for the condominiums alone and excluding infrastructure works is RM120mil.

The duration of the contract is for 26 months from June 2021 to August 2023.

"The contract secured is not expected to have any material effect on the net assets of SCIB and its group of companies for the financial year ending 31 December 2021.

"Any profits attributable to the Group would be realized in stages over the tenure of the contract based on the progress of the project," said SCIB.
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