Sarawak Consolidated Industries Bhd (SCIB) announced that the company has received overwhelming support from the shareholders to pursue re-election and election of board directors, as well as greater flexibility to seek financing that can drive sustainable growth, according to a press statement circulated by the company on Dec 19.
The industrial building systems specialist announced on Wednesday that all twelve (12) resolutions tabled at its 48th Annual General Meeting (AGM) held virtually were passed by the shareholders, including approval for the company to issue and allot shares pursuant to Sections 75 and 76 of the Companies Act 2016, which will provide the company with the flexibility to pursue funding initiatives and business opportunities to drive sustainable growth.
Other key resolutions passed were the re-election of directors retiring in accordance with the company’s constitution, the election of new Directors, the re-appointment of auditors, and the approval of the payment of directors’ fees and benefits.
Group Managing Director Ku Chong Hong said after the AGM, “The approval of all resolutions provides SCIB with the mandate to further strengthen our financial position and operational capabilities.”
SCIB, founded in 1975, currently operates three factories in Kuching, Sarawak with one factory in the Pending Industrial Estate and two factories in the Demak Laut industrial park. SCIB is known for innovative ideas and technological advances in the sconstruciton sector on the back of more than three decades of expertise.
Looking ahead, SCIB remains committed to its mission of delivering innovative construction solutions and high-quality products. The company is poised to leverage its strong foundation and seize emerging opportunities in Malaysia’s construction and infrastructure sectors, bolstered by ongoing government initiatives such as the Sabah-Sarawak Link Road and North Coastal Highway projects.
