SCIB managing director and chief executive officer Rosland Othman
KUALA LUMPUR: Sarawak Consolidated Industries Bhd
(SCIB) posted a net loss of RM36.5mil, or loss per share of 7.10 sen in the fourth quarter ended June 30 (4Q) mainly due to net impairment loss in trade and other receivables
The civil engineering specialist registered a revenue of RM26.2mil during the quarter due to higher sales volume of foundation piles from the manufacturing division.
There are no comparisons for the quarter and full financial year as SCIB changed the financial year end to June 30 from Dec 31.
For the full year, SCIB posted a net loss of RM42.4mil on revenue of RM128.4mil.
Group managing director and CEO Rosland Othman said: “We are cautiously optimistic as the domestic economy continues to improve with the 8.9% growth year-on-year for the second quarter ended June 30.”
“The announcement of the RM50bil MRT3 project and the continuation of other large civil infrastructure projects are also contributing positive impacts to the construction sector and businesses like ours as we will certainly leverage on our manufacturing and EPCC expertise to seek opportunities,” he said.
He added that SCIB would continue to seek projects in Sabah and Sarawak in which RM5.2bil and RM4.6bil were allocated respectively under Budget 2022.
As of June 30, SCIB has an orderbook of RM1.52bil with earnings visibility until 2026.
