SCIB optimistic of its prospects

Sarawak Consolidated Industries Bhd group managing director Ku Chong Hong

KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) remains optimistic about its prospects, driven by strategic recalibrations, a renewed focus on governance, and a proactive approach to seizing growth opportunities.

The industrialised building systems specialist said it is committed to navigating the current economic landscape with agility, aiming to drive sustainable growth and deliver long-term value to stakeholders.

SCIB posted a net profit of RM846,000 in the second quarter ended Dec 31 compared with a net loss of RM2.82mil in the same quarter last year.

Revenue, however, rose 5.8% to RM38.1mil against RM36mil a year prior. Its earnings per share stood at 0.13 sen versus a loss per share of 0.48 sen last year.

In the first half, SCIB posted a net profit of RM1.77mil on revenue of RM77.5mil.

SCIB also appointed Yak Boon Tiong as an independent non-executive director, effective immediately. Yak will contribute to the audit committee and risk management committee.

Managing director Ku Chong Hong said Yak’s wealth of experience in finance and governance is poised to enrich the group’s strategic endeavors further.

“Our recent milestones, including leadership transitions and strategic land acquisitions, are pivotal to our long-term objectives. With Yak’s addition, we’re even more equipped to exceed stakeholder expectations and navigate the complexities of the current economic landscape with robust governance and operational excellence.”

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