SCIB releases annual report; resumes trading on Jan 19

SCIB group managing director/chief executive officer Rosland Othman

KUALA LUMPUR: Sarawak Consolidated Industries Bhd’s (SCIB) shares will be resumed trading on Jan 19 following the release of its annual report 2021.

In a statement, SCIB said it had submitted its annual report 2021 which included the annual audited financial statements (AFS) together with the directors’ reports for the accumulated 18 months of the financial period ended June 30, 2021 (FPE 21).

The company has been suspended since Nov 9, 2021 after it failed to issue its annual report for the financial year ended June 30, 2021 (FY21) by November 8, 2021.

Group managing director/ chief executive officer Rosland Othman said SCIB would be focusing on creating value and optimising its performance in the year ahead as the company can put its full attention into its expansion into Peninsular Malaysia and East Malaysia.

“Even though we are met with a setback, SCIB is not deterred as we have other projects progressing according to schedule and we are also taking the initiative to look for opportunities in Malaysia and other neighboring countries.

“We have recognised potential prospects domestically and regionally, and SCIB is intended to fully capitalise on the emerging markets by re-strategising our geographical positioning,” he said.

“Currently, our target market for business growth is focusing on the concessions of roadwork maintenance projects across Malaysia, housing development projects including PR1MA and Perumahan Penjawat Awam Malaysia (PPAM) contracts and water treatment plant projects,” he said.

“We are still optimistic about the SCIB’s current and future prospects with SCIB aspired to be one of the main players in the global market.

“We hope to reinstill our shareholders' confidence in us, as we believe that SCIB is prepared to grab any business opportunities that will emerge this year, further improving our existing RM1.2bil order book,” Rosland said.