BUSINESS

SCIB'S UNIT BAGS RM120 MLN PRIMA CONTRACT

18/05/2021 02:06 PM

KUALA LUMPUR, May 18 -- Sarawak Consolidated Industries Bhd’s (SCIB) wholly-owned subsidiary, SCIB Properties Sdn Bhd has bagged an engineering, procurement, construction and commissioning (EPCC) contract worth RM120 million from AUEI Teras Holdings Sdn Bhd.

Under the contract, SCIB Properties would build and prepare 632 unit of the Phase 1 Malaysia People's Housing Programme (PRIMA) for the duration of from June 2021 until August 2023.

“Any profits attributable to the group would be realised in stages over the tenure of the contract based on the progress of the project.

“The contract secured is expected to contribute positively to SCIB Group’s future earnings over the duration of the contract,” SCIB said in a filing with Bursa Malaysia today.

It said the contract would not have any effect on the issued share capital and the shareholdings of its substantial shareholders.

-- BERNAMA

 


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