SCIB records RM37.55 million revenue

KUCHING: Sarawak Consolidated Industries Berhad (SCIB), a civil engineering specialist, yesterday announced that the company recorded revenue of RM37.55 million for the quarter ended March 31, 2022 (Q3FY22).

Group managing director/chief executive officer, Rosland Othman said in a press release here yesterday that the company was constantly striving to create value and optimising performance for SCIB in the year ahead.

“SCIB has been proactively supporting numerous state-funded people-centric construction projects in Sarawak. This is evident through our recently secured road infrastructure projects in the state, which is also a testament to our reliable and sustainable services.

“However, we believed that opportunities are observed not only in East and West Malaysia but also in neighbouring countries. We believe that we are well-poised to capitalise on the opportunities, as our complimentary cores in construction and building materials manufacturing equipped us with the qualifications and experiences required,” he added.

There is no comparison for the corresponding quarter of the previous financial year as SCIB changed its financial year-end from the financial year-end of December 31, 2020 (FYE311220) to June 30, 2021 (FPE300621) on May 24, 2021.

For the quarter under review, SCIB registered both a loss before tax (LBT) and a loss after tax (“LAT”) of RM1.97 million.

Rosland added that on a segmental basis, the manufacturing division was the largest contributor to revenue at RM22.10 million, followed by the construction/ EPCC division as well as the property trading division, which recorded revenues of RM15.14 million and RM319,000 respectively.

For the nine-month period ended March 31, 2022 (9MFY22), SCIB reported a revenue of RM102.18 million. The company also recorded a LBT and a LAT of RM6.03 million.

“There are also projects in the midst of being tendered, and we are hopeful that there will be fruitful outcomes for the tenders. As such, SCIB will do its best to grow the group’s business prudently by strengthening its capabilities and capacities in all our segments.

“Moving forward, SCIB holds a hopeful view for its prospects in the financial year 2022 as our current order book value stood at RM1.3 billion as of December 2021 and this translates into healthy earnings visibility up to 2026,” he said.

Previous articleCall to improve Kota Sentosa road condition
Next articleGPS Government told to intervene on shortage of foreign workers too