SCIB gets shareholder approval for debt capitalisation, LTIP

KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) has got the green light from its shareholders for two proposals aimed at bolstering its financial framework and retaining talent.

In a statement, the group said the first proposal passed at an extraordinary general meeting held recently involves the capitalisation of an aggregate RM11.3mil debt owed to Goh Hardware & Construction Sdn Bhd by SCIB Properties Sdn Bhd, a subsidiary of SCIB.