KUCHING: Sarawak Consolidated Industries Berhad (SCIB) announced that its operations would continue as usual despite a stock trading suspension by Bursa Malaysia Securities Berhad from Nov 9.
It said that the trading suspension pertained to Bursa Securities’ rejection of an appeal by SCIB made on Oct 8 for an extension of time until Dec 31 for SCIB to release its annual report for the financial year ended June 30 due on Oct 31.
“The appeal for the extension of time was made because we could not finalise the audited financial statements in time for inclusion in the annual report due to a change of external auditor and the movement restrictions imposed to curb the spread of Covid-19,” it said in its statement on Nov 9.
Group Managing Director cum Chief Executive Officer of SCIB Rosland Othman said SCIB wanted to reassure all their stakeholders, business partners, vendors and employees that it would continue with daily operations as usual despite the stock trading suspension.
“We are working with our external auditor to expedite the finalisation of the audit of the financial statements and we are targeting the annual report to be issued by Dec.
“Our expansion plans remain intact as we leverage on our strengths of being the largest precast concrete and Industrialised Building System (IBS) manufacturer in East Malaysia to develop opportunities including in Peninsular Malaysia.
“We are also adopting 3D technology for our construction projects as we believe that this will help expedite projects by having shorter construction periods.
“We also believe that a combination of IBS and 3D technology will give us an edge over our competitors as the construction industry becomes more accepting of cutting-edge technology with quality assurance and efficiency,” he explained.