KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) has secured a contract worth RM8.25mil from Mindagang Resources Sdn Bhd.
In a filing with Bursa Malaysia, SCIB said its wholly-owned subsidiary, SCIB Industrialised Building System Sdn Bhd (SCIB IBS) has been appointed as the principal subcontractor for a significant housing development project in Kelantan.
SCIB IBS’s appointment comes with a contract value of RM8.25mil. The construction period is stipulated to be 16 months, with all terms and conditions to be agreed upon and signed in the forthcoming contract agreement.
The project, under the banner of SPP Development Sdn Bhd, a subsidiary of the Perbadanan Kemajuan Iktisad Negeri Kelantan, includes the construction of 35 single-storey terrace houses, 12 double-storey terrace houses, all situated in the Bachok region of Kelantan.
On July 4, 2023, SCIB IBS received the letter of award from MinDagang marking a significant stride for the company. The project, being part of the RM400mil federal grant for state housing, not only offers secured payment but also underlines SCIB's growing reputation in the industry.
“The selection of SCIB IBS as the principal subcontractor for this housing project is a testament to our solid capabilities in the construction sector. We look forward to delivering top-notch work and strengthening our relationship with state government entities for more projects in the future,” SCIB managing director Ku Chong Hong said.
As at the end of 3QFY23, SCIB’s order book stood at a cumulative contract value of RM495.3mil.