KUALA LUMPUR Sarawak Consolidated Industries Bhd
(SCIB) is exploring a collaboration with Bintai Kinden Corp Bhd to establish a strategic alliance for exploring business opportunities, securing new projects and the sharing of profits.
In a joint statement, the parties said the joint venture vehicle to be used for the partnership would be SCIB's wholly owned subsidiary, SCIB Infraworks Sdn Bhd.
Accordingly, SCIB would retain a 51% interest in the JV while Bintai Kinden would subscribe to the remaining 49%.
SCIB group managing director Rosland Othman said an alliance between the two groups will allow them to leverage each other's strengths and expertise.
"Our focus on small-to-mid-sized construction healthcare, educational and utility facilities as well as rural infrastructure projects together with investment in technology such as 3D printing and automation are also strengths that we can leverage on for the future JV projects," he said.
SCIB executive director Ku Chong Hang added that the group expects more infrastructure projects in the pipeline as Malaysia's construction sector gains momentum on the back of economic growth.
Meanwhile, Bintai Kinden executive director Azri Azerai said it looks forward to a fruitful partnership with SCIB in its search for fresh opportunities.
