SCIB inks settlement to terminate contracts in Qatar, Oman

KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) and its subsidiary SCIB International (Labuan) Ltd have entered into settlement agreements with clients and subcontractors for the mutual termination of contracts to mitigate risks arising from long-overdue debts and Covid-19 uncertainties.

SCIB said the decision was arrived at by the stakeholders after considering that the progress of the projects, undertaken in Qatar and Oman, was greatly affected by manpower issues caused by the Covid-19 pandemic.