Sarawak Consolidated Industries Berhad announced that shareholders have approved all resolutions tabled at its Extraordinary General Meeting, paving the way for a transformational disposal exercise with a total potential realisation value of approximately RM151.19 million.
The approved proposals comprise the disposal of 100% equity interest in SCIB Concrete Manufacturing Sdn. Bhd. for RM113.0 million, alongside the disposal of seven parcels of land with a combined pre-agreed value of RM38.19 million. This landmark approval marks a decisive step in SCIB’s strategic reset, enabling the Company to unlock value from its manufacturing business and landbank assets while repositioning itself into a more focused Construction and Engineering, Procurement, Construction and Commissioning player.
The disposal exercise is expected to significantly strengthen SCIB’s balance sheet through immediate cash inflows and improved liquidity. Proceeds from the disposal will be channelled towards funding ongoing and future Construction & EPCC projects, supporting property development initiatives, strengthening working capital and optimising the Group’s capital structure.
