KUALA LUMPUR: Sarawak Consolidated Industries Bhd
(SCIB) is acquiring three leasehold parcels in Kolombong, Kota Kinabalu, Sabah, for RM15.2mil as it expands its presence in the state.
In a statement, the construction and engineering, procurement, construction and commissioning (EPCC) specialist said its wholly-owned subsidiary SCIB Ecobuild Sdn Bhd has entered into a sale and purchase agreement with East Liberty Sdn Bhd for the acquisition.
The deal also includes rights and interests in an adjoining road reserve.
SCIB said parcel A comprises six existing two-storey shoplots, which are currently multi-tenanted and generate a total monthly rental income of RM43,600.
The other two parcels are undeveloped and offer potential for the future development of additional two-storey shoplots, subject to market conditions, regulatory approvals and title conditions.
SCIB said it intends to retain one of the proposed units as its Sabah branch office.
Independent valuer Knight Frank Malaysia Sdn Bhd valued the three parcels at RM15.2mil as at July 23, 2026.
SCIB said the acquisition will be funded through a combination of bank borrowings and internally generated funds and is expected to be completed by the first quarter of 2027, barring unforeseen circumstances.
Non-independent non-executive chairman Datuk Chong Loong Men said the acquisition would provide the group with a platform to deepen its presence in Sabah while providing immediate recurring rental income and future development potential.
“This acquisition gives SCIB a practical platform to deepen our presence in Sabah. It combines immediate recurring rental income with future development potential, while the planned Sabah branch office will place our team closer to the projects and opportunities we are pursuing in the state,” he said.
“We remain disciplined in how we deploy capital. The acquisition complements our construction and EPCC capabilities and gives us a sensible mix of income-producing assets, development potential and operational use as we build a broader business base in Sabah.”
SCIB has been expanding its project and development pipeline in Sabah, securing four projects worth a combined RM90.28mil since April 2026.
