Company to continue building better, stronger and more sustainable business
Civil engineering specialist Sarawak Consolidated Industries Berhad (Bursa: SCIB, 9237) today announced Encik Shamsul Anuar bin Ahamad Ibrahim be redesignated as Independent Non-Executive Chairman with immediate effect.
Encik Shamsul Anuar bin Ahamad Ibrahim, SCIB’s new Independent Non-Executive Chairman
Encik Shamsul Anuar said, “I am delighted on the redesignation and I look forward to working even more closely with the team in our journey to transform SCIB to a better, stronger and more sustainable business through our expansion to Peninsular Malaysia and more recently, our exploration into projects in neighbouring Kalimantan, Indonesia.”
“We welcome Encik Shamsul Anuar as our new Chairman and look forward to working with him to grow SCIB. His experience in state-owned enterprises will be invaluable to us,” Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said.
Encik Shamsul Anuar, a fellow of the Association of Chartered Certified Accountants and member of the Malaysian Institute of Accountants, was first appointed to the board of the Company on 1 September 2015. He is a member of SCIB’s Audit Committee and Remuneration & Nomination Committee as well as Chairman of the Risk Management Committee.
He is currently the Group Corporate Affairs General Manager of Permodalan ASSAR Sdn. Bhd., the holding company of Amanah Saham Sarawak Bhd, a state-owned investment company with a portfolio of investments in financial services, agriculture and resource-based, property development and construction, services and technology, manufacturing, trading and others. He also sits on the BOD of Transnational Insurance Brokers Sdn. Bhd.
Company also exploring development of training programmes related to 3D technology with ABM
Civil engineering specialist Sarawak Consolidated Industries Berhad’s (SCIB), wholly-owned subsidiary, SCIB Industrialised Building System Sdn Bhd (SIBS), today unveiled a sample house built using a 3D printing system from COBOD International A/S, a Copenhagen, Denmark-based 3D construction specialist.
Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman
The sample house, located on the premises of the Construction Industry Development Board’s (CIDB) Kuching campus, was built in collaboration with Akademi Binaan Malaysia (Sarawak) Sdn Bhd (ABM), an assessment and training centre of the CIDB in Sarawak catering to the development and skills enhancement of the state’s construction industry. SIBS is principally involved in the supply and installation of IBS components as well as owns the 3D-printing machinery that produces IBS components.
On hand to witness the unveiling of the sample house was the State Assistant Minister of Urban Planning, Land Administration and Environment, YB Datu Len Talif Salleh, accompanied by Group Managing Director and Chief Executive Officer of SCIB, Rosland bin Othman and, CEO of CIDB, Datuk Ir. Ahmad ‘Asri bin Abdul Hamid.
Tuan Haji Abdul Hadi bin Datuk Abdul Kadir, Director of SCIB, said, “The 3D printing system was acquired as part of our innovation initiatives and to explore the possibilities of deploying this technology in the domestic construction industry. The construction of the IBS sample house using 3D technology has given us invaluable knowledge and experience that will help to facilitate the development of training programmes that we hope to offer to workers in the construction industry who want to enhance their skills and knowledge.”
SCIB also signed a Memorandum of Understanding (MoU) with ABM on 3 October 2022 in conjunction with the CIDB and CIDB Technologies Sarawak chapter graduation ceremony for students. Both parties agreed under the MoU to explore and identify training and assessment for IBS-related programmes and courses as well as share information, technical knowledge and professional experiences leading to the establishment of training courses and modules in IBS that can add value and improve the standards, skills and understanding of construction workers, especially in Sarawak.
Group MD and CEO of SCIB, Rosland, said, “We are happy to work with ABM in developing programmes that will enhance the skills and knowledge of the construction industry. The deployment of technology such as 3D printing comes at a time when businesses are being scrutinised for the impact of their operations on the environment and society. Businesses have a central role to play in society and a key part of it is to operate responsibly.”
The Brand-New Building is Located in Downtown Miami on US-1, Across From Miami Heat FTX Arena and Biscayne Bay
Due to the Unique and Strategic Location of the Building, the SKYX Roof Signs are Expected to be Seen by Tens of Millions, Including on TV Shows and Skyline Miami Imagery, Creating Significant SKYX Brand Awareness
SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a Sky Technologies) (SKYX, we or “the Company), a highly disruptive platform technology company with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced that it secured a 10-year roof right lease for signage on one of the tallest buildings in downtown Miami, across the street from the Miami Heat FTX Arena and Biscayne Bay.
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The new building is located on 400 Biscayne Blvd (US-1) and will include office space, residential as well as a high-end modern hotel. The downtown Miami area is both a U.S. and international hub for world leading companies – with the SKYX rooftop signage expected to be seen by tens of millions, including on TV shows and on Miami skyline imagery.
As part of the lease, SKYX has also secured a high-end, state of the art, high ceiling office space with 360-degree views and expects to open its U.S. and international sales offices, as well as its corporate headquarters, in the new location in 2023. As part of the agreement, the Company can start paying rent in January 2024. In addition, the Landlord will provide the Company with an improvement allowance of up to $2.25 million, which may be used for the construction of the Premises, including the reasonable cost of design, space planning, consultants, and construction drawings. The Company intends to use part of the office space and to sublease the remainder to minimize expenses.
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “Securing a long-term lease for SKYX signage and offices in the heart of downtown Miami provides an incredible level of brand awareness for SKYX. As reported, FTX paid $135 million to secure a long-term lease for naming of our next-door neighbor’s building, the Miami Heat Arena, now called FTX arena – and that speaks for itself.
“As we position ourselves to embark on our commercialization journey, this provides a significant foundation for our company on many levels. I look forward to moving into this exciting new space and elevating our public profile through continued operational execution, with the objective of creating sustainable, long-term value for our shareholders,” concluded Kohen.
To learn more about SKYX’s technology, access the explainer video link here: SkyXPlug.com/video
About SKYX Platforms Corp. As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the standard.
SKYX Platforms Corp. (NASDAQ: SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global patents and patent pending applications. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com or follow us on LinkedIn.
Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release constitute forward-looking statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Forward-looking statements speak only as of the date they are made and include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company’s efforts and ability to drive the adoption of Sky’s Plug Smart Platforms into multi-family residential buildings and communities and adoption by hotels, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
For the terms of the lease, see the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on September 29, 2022. Under the terms of the lease, the Company does not expect to pay any rent for the first fourteen months of the lease, taking into account a six month build out period (which may be extended for up to four months), and four additional months of rent abatement after the rent commencement date. The Company may extend the build out period for four one month periods, provided that for each one month extension exercised, the annual base rent will increase by $1.00 per square foot. The signage is subject to obtaining necessary permits. The images included in this press release are for demonstration purposes only and are not necessarily representative of any signage expected to be installed.
Investor Relations Contact: Lucas A. Zimmerman MZ North America (949) 259-4987 SKYX@mzgroup.us
BPipe Corporation, an equity joint venture partner of Biopipe Global USA, enters into an agreement with a major global food company to install a 10 m3/day Biopipe biological sewage wastewater treatment plant.
BPipe Corporation is focused on innovative, scalable and disruptive decentralized wastewater treatment and reuse technologies. Its flagship system is the Biopipe STP, which is a highly scalable onsite sludge, odor and chemical free sewage wastewater treatment technology. BPipe is an equity joint venture partner established in the Philippines to pursue both sewage and industrial wastewater treatment opportunities for technologies within our portfolio.
According to Mr. Freddie Canta, President of BPipe, “In addition to the sludge free, odor free, and chemical free features of Biopipe technology, the customizable design and flexibility to fit in small spaces were the deciding factors that led to this partnership with BPipe. We are happy that this client will promote environmentally sustainable practices by recycling treated wastewater through our Biopipe system.”
“Biopipe continues to see strong market interest in the Philippines as customers look to long-term, eco-friendly solutions for a more resilient future,” says Ms. Nina Aquino, CMO of Biopipe Global Corp. “We look forward to continuing our support of the country’s dedication to cleaner waters and safe sanitation practices.”
About Biopipe Global Corp Biopipe Global Corp is a wholly owned subsidiary of Lifequest World Corp (OTC Markets: LQWC). Lifequest offers both effluent treatment (ETP) and sewage treatment (STP) solutions. Biopipe has developed a patented 100% sludge-free, chemical-free, odor-free, silent, easy to assemble and install, scalable, low cost, ecological and virtually maintenance-free onsite sewage wastewater treatment system. Our Abrimix ETP solution is a highly efficient and cost-effective industrial wastewater treatment system that is vastly superior to Dissolved Air Floatation (DAF) systems. See www.lifequestcorp.com and www.biopipe.co or contact: info@biopipe.co.
About BPipe Corporation BPipe Corporation, a Philippine subsidiary of Biopipe Global Corp, is engaged in sales, marketing, distribution, installation, and maintenance of Biopipe STP, Abrimix ETP, Glanris Media and Goslyn FOG and other technologies through its global partnerships.
Southern Score Builders Berhad is pleased to present an incentive of RM100,000 to Malaysia’s top men’s doubles pair Aaron Chia and Soh Wooi Yik, who won Malaysia’s first gold at the 2022 World Badminton Championships in Tokyo last month.
Soh Wooi Yik, Gan Yee Hin and Chia Teng Fong [L-R]
Ian Wong Jien Sern, Gan Yee Hin, Dato Jack Koh [L-R]
Aaron and Wooi Yik were presented with mock cheques by Executive Director and Chief Executive Officer of Southern Score, Gan Yee Hin, at a ceremony today honouring their outstanding achievements. On hand to welcome them were guests and staff of Southern Score.
Gan Yee Hin said, “We are here to celebrate the outstanding achievement of Aaron and Wooi Yik by presenting a token of appreciation for winning the world title for Malaysia. Thank you for the dedication and hard work, they are excellent and truly deserve the rewards. We believe this world title is just the beginning of their badminton journey. We hope this little token of our gratitude will further motivate them for greater achievements and bring glory to the country in the world arena.”
“We hope that our gesture incentive will inspire others to assist a new generation of players who have the courage to pursue the sport as their career.”
“At the same time, we are contributing RM200,000 to Petaling Badminton Club (PBC), the club from which our world champions were nurtured before they joined the national team. We hope that the contribution provides some support as they nurture talents to represent the country. PBC has had a history of producing several of the country’s well-known players such as Chen Tang Jie, Cheam June Wei, Man Wei Chong and Goh V Shem.”
Aaron and Wooi Yik thanked Southern Score for the incentive and said, “We are honoured to have represented Malaysia at the World Badminton Championships and would like to thank Southern Score and all Malaysians for their support.”
“Support such as this incentive from Southern Score means a lot to us and motivates us as we prepare ourselves mentally and physically to win more accolades for Malaysia on the world stage, including our goal of making it to the 2024 Olympic Games.”
Southern Score is a certified CIDB Grade 7 builder of homes for the community and a future for the nation. The Company is always closely tied into the local community and remains active in community involvement programmes such as education, sport, environment and society.
Company redesignates Ku Chong Hong as Executive Director
Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) is pleased to announce the redesignation of Mr. Ku Chong Hong as Executive Director and the appointments of En. Mohd. Shakir bin Shahimi and En. Nuraiman Shaiful bin Annuar as Independent Non-Executive Directors (INED), effective today.
Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman
Mr. Ku Chong Hong
En. Mohd. Shakir bin Shahimi
En. Nuraiman Shaiful bin Annuar
Mr. Ku, who was appointed to the board of directors on 17 March 2022 as an INED, has experience in audit and assurance, and business advisory-related fields through various local and international companies involved in a range of industries from property and construction to software.
En. Mohd. Shakir will replace Ku as chairman and member of the audit committee. A chartered accountant, he graduated with a degree in accountancy from Universiti Utara Malaysia and is a member of the Malaysian Institute of Accountants. He was an auditor with Arthur Andersen & Co and has experience auditing public-listed and privately-held companies. He is currently an audit manager with Khairuddin Hasyudeen & Razi. He is also an INED with Bintai Kinden Corporation Berhad, where he is chairman of the nomination, remuneration and risk management committees as well as member of the audit committee.
En. Nuraiman has attended the International Bachelor of Business Administration Programme from Hult International Business School, London United Kingdom in year 2017. He has experience in the oil and gas as well as construction fields. He holds directorships in Hipro Technologies Ltd and Petro Flanges and Fittings Sdn Bhd.
Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, “We welcome En. Mohd Shakir and En. Nuraiman aboard and look forward to their guidance and advice. Their experience and knowledge will be a good addition to the board while enhancing our governance decision-making structure. We would also like to congratulate Mr. Ku in his redesignation as Executive Director. His insights and knowledge will be invaluable in helping us grow the Company.”
About Sarawak Consolidated Industries Berhad Sarawak Consolidated Industries Berhad (SCIB) was founded in 1975 and has evolved from a small enterprise into a reputable Group of companies listed on the Main Market of Bursa Malaysia Securities Berhad. Currently, SCIB is operating three factories in Kuching, Sarawak, one factory in the Pending Industrial Estate and two factories in the Demak Laut industrial park.
SCIB is well known for professional management and has long history of innovative ideas and technological advances. Coupled with its wealth of experience and research acquired in more than three decades, SCIB offers its clients in-depth expertise through a combination of technology, efficiency and speed. For more information, visit scib.com.my.
A key milestone for G Neptune’s proposed regularisation plan which includes amongst others, the proposed acquisition of Southern Score and a proposed private placement raising at least RM108.6 million
The non-interested shareholders of G Neptune Berhad have approved its proposed regularisation plan during the extraordinary general meeting (EGM) held today. The shareholders’ approval marks a key milestone for G Neptune’s proposed regularisation plan which is expected to address the Company’s Guidance Note 3 (GN3) status as well as return it to a stronger financial standing as well as profitability.
Peter Ling Sie Wuong, Independent Non-Executive Director; Cheah Hannon, Independent Non-Executive Director; Chai Tham Poh, Executive Director; and Dato’ Haji Mohd Amran Bin Wahid, Non Independent Non Executive Chairman from G Neptune Berhad; Tan Sri Datuk Seri Gan Yu Chai, MD; Datuk Sydney Lim Tai Chin, ED; and Gan Yee Hin, ED and CEO from Southern Score Sdn. Bhd. and Alvin Ooi, Acting Head of Corporate Finance of Kenanga Investment Bank Berhad [L-R]
Gan Yee Hin, Executive Director and Chief Executive Officer of Southern Score
An integral part of the approved regularisation plan is the proposed acquisition of the entire equity interest in Southern Score Sdn Bhd from Super Advantage Property Sdn Bhd for a purchase consideration of RM252.0 million to be satisfied through the issuance of 1.68 billion shares.
Southern Score is a construction management services company with a recorded net profit of RM6.51 million, RM19.20 million and RM35.18 million in the financial year ended 31 December 2019, 2020 and 2021 respectively. Super Advantage, being the vendor of Southern Score, has provided cumulative net profit guarantee of RM80.0 million over the three-year period from 2022 to 2024. Super Advantage is held by Tan Sri Datuk Seri Gan Yu Chai, the Managing Director of Southern Score, a veteran in the construction and property development industries with more than 30 years’ experience as well as Gan Yee Hin, the Executive Director and Chief Executive Officer of Southern Score.
Shareholders also approved to change the Company’s name to “Southern Score Builders Berhad”, a move undertaken by the Company to better reflect G Neptune’s new corporate identity moving forward.
Commenting on the shareholders’ approval, Gan Yee Hin said, “We would like to thank the shareholders for putting their trust and confidence in us. This is a key milestone towards the long-awaited completion of the regularisation plan. With the injection of Southern Score, we believe that G Neptune will be in a stronger financial standing and profitability, thereby benefiting all stakeholders.”
Other than the proposed acquisition and proposed change of name, shareholders also approved the following proposals which are part of the proposed regularisation plan:
proposed consolidation of every 10 existing G Neptune’s shares into one share;
proposed debt settlement amounting to RM3.1 million to Mr. Chai Tham Poh, an Executive Director of G Neptune, via the issuance of 20.67 million shares;
proposed private placement to raise at least RM108.6 million through the issuance of 543.05 million shares to investors to be identified later and;
proposed exemption from the obligation to undertake a mandatory takeover offer for the remaining G Neptune shares not already owned by Super Advantage as well as Tan Sri Datuk Seri Gan Yu Chai and Gan Yee Hin.
Gan Yee Hin added, “The shareholders’ approval obtained today heralds a new beginning for Southern Score as we gain a step closer towards obtaining a listing status via GNB. We intend to leverage on our listing status to further grow our business for which our shareholders will also be able to partake in. We expect Southern Score’s growth to be fuelled from growth in the construction sector where construction activities is expected to increase in tandem with economic growth following the reopening of the economy and country borders.”
Kenanga Investment Bank Berhad is the principal adviser and sponsor for the proposed regularisation plan as well as placement agent for the proposed private placement while Malacca Securities Sdn Bhd is the independent adviser for the proposed exemption.
HK DECOMAN Technology Limited (DECOMAN) is now expanding its footprint in Korea to capture the opportunities of growing demand for its services. With the Taiwan expansion begun in January, this is the second APAC market DECOMAN entered in 2022.
Coworking space at the KSGC campus
Coworking office shared between talented entrepreneurs and promising startups selected by KSGC
Pen Ventures and DECOMAN in Korea
Recognized by Korean Government’s Accelerator Program Out of 2,653 companies applying from 122 countries, DECOMAN is among the top 54 startups this year selected by K-Startup Grand Challenge (“KSGC”), a global startup accelerator program organized and financed by the Korean government, to enhance the local entrepreneurship ecosystem. As a KSGC participant, DECOMAN team has been utilizing the facilities and coworking spaces at the KSGC campus in Pangyo Techno Valley – a technology hub near Seoul, to build its K-network and foundation.
Support from International VC Firm In addition to the guidance and opportunities that DECOMAN can gain from KSGC, California venture capital firm Pen Ventures also sails along the journey (read coverage here https://www.fnnews.com/news/202208160811387147 ) with DECOMAN by being its mentor and sharing its extensive network. In the coming months, DECOMAN will make solid progress in respect of its planned road map.
Proven Success in Taiwan Expansion Earlier this year, DECOMAN has already entered Taiwan and debuted on the stage of SparkLabs Taipei DemoDay 6 (read coverage here https://meet-global.bnext.com.tw/articles/view/47581 ), kicking off its operation there and bringing innovation to the renovation market.
Expand despite the Pandemic In 2021, DECOMAN received investments from international startup accelerator SparkLabs Taipei, and was invited to participate in SparkLabs Taipei DemoDay 6 in January 2022. DECOMAN has since been in discussion with several local investors to prepare for the next stages. As of now, the renovation-design matching service and “Deco Academy” courses have already been introduced to the locals. Notwithstanding the impacts of the pandemic, DECOMAN has made a strong foundation in Taiwan by recruiting Taiwanese staff to enable rapid executions adaptable to local lifestyles as well as concrete social media presence for content sharing.
About DECOMAN DECOMAN is a fast-growing one-stop O2O renovation platform, aiming to disrupt the traditional renovation industry by bringing standardization, transparency, convenience and automation to the industry. DECOMAN does it all. With DECOMAN, homeowners no longer need to rely on risky and primitive ways to ascertain a company’s credibility and quality of service, nor do they need to worry about mastering a wide range of knowledge for a one-time project. DECOMAN has been backed by large players in the property industry and is currently valued at US$27M. (Visit our websites to know more – Hong Kong https://hkdecoman.com/; Singapore https://www.sgdecoman.com/; Taiwan https://twdecoman.com/; Macau https://modecoman.com/; Korea https://krdecoman.com/ko/)
JE Cleantech Holdings Limited (Nasdaq: JCSE), (the Company) a Singapore-based cleantech company, has announced its financial results for the six months ending 30 June 2022. In its first mid-year update since completing its Nasdaq listing in 2022, the company has seen a decline of 19 per cent in its revenue compared to the corresponding period last year (H1 2021). Net income for the reporting period has been S$147,000, lower than the S$616,000 reported for the first six months of 2021.
Speaking about the 2022 results, Ms. Bee Yin Hong, CEO and Founder, JE Cleantech said, “Our industry as with many others was hit hard by the pandemic, but we have weathered it and even achieved impressive growth in one of our key business verticals. We strongly believe in the future to come as we enter the endemic phase and the F&B, travel, and hospitality sectors see rapid recovery. JE Cleantech is well positioned to capture growth opportunities. We are actively widening our product offerings and exploring new markets to bring sustainable returns to our shareholders and investors.”
The group has been negatively affected by the ongoing disruptions caused by Covid-19, some effects of which may linger post-pandemic such as supply chain disruptions, fluctuations in the cost of raw materials and uneven demand growth from customer groups. Despite this, the Company did not experience any material order cancellations during the reporting period and records an order book value of approximately S$36.8 million as of August 15, 2022.
The Company saw a growth of 36 per cent in its provision of centralized dishwashing and ancillary services, compared to the same corresponding period last year, with revenue of S$3.585 million. The company also announced the renewal of a key customer to provide centralized dishwashing services to a fully owned subsidiary of Singapore’s leading ground-handling and in-flight catering service provider for a period of three years, starting in September 2022. The contract, which has been closed through its subsidiary, Hygieia Warewashing Pte Ltd., is valued at approximately S$9.3 million (around US$6.7 million). With this renewal, Hygieia Warewashing will have been providing cleaning services for the client for nine years continuously.
Having provided centralized dishwashing services in Singapore since 2013, management believes that JE Cleantech is now Singapore’s leading manufacturer of precision cleaning systems and provider of centralized dishwashing and ancillary services, with approximately 15 per cent market share in 2020 in terms of revenue (Source: Euromonitor estimates from desk research and trade interviews with leading centralized dishwashing services providers and the relevant trade associations in Singapore). Ms. Hong stated “we believe that JE Cleantech has not only left a strong footprint in Singapore and Malaysia, but has also established a robust network of long-term customers across Southeast Asia, with a growing international footprint in markets such as Europe and the United States.”
Moving forward, the company is looking to expand its team of R&D staff and engineers, while continuing to strengthen its product portfolio. Recently, it has expanded its scope of service offerings to include tech hardware.
About JE Cleantech Holdings Limited JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore.
Disclaimer: Forward looking statements This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as “should,” “intends,” “is subject to,” “expects,” “will,” “continue,” “anticipate,” “estimated,” “projected,” “may,” “I or we believe,” “future prospects,” “our strategy,” or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update “forward-looking” statements.
Company’s manufacturing division sees higher sales volume of foundation piles
Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company recorded revenue of RM26.2 million for the fourth quarter ended 30 June 2022 mainly due to higher sales volume of foundation piles from the manufacturing division.
Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman
For the quarter under review, the Company registered a loss before tax (LBT) of RM45.9 million mainly due to net impairment loss in trade and other receivables of RM18.0 million as well as expenditure incurred in various project-related activities of RM25.0 million from the engineering, procurement, construction and commissioning (EPCC) division.
For the financial year ended 30 June 2022, the Company registered revenue of RM128.4 million and a LBT of RM52.0 million. There are no comparisons for the quarter and full financial year as the Company has changed the financial year-end from 31 December as previously announced to Bursa Malaysia Securities Berhad on 24 May 2021.
Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, “We are cautiously optimistic as the domestic economy continues to improve with the 8.9% growth year-on-year for the second quarter ended 30 June 2022. The announcement of the RM50.0 billion MRT3 project and the continuation of other large civil infrastructure projects is also contributing positive impacts to the construction sector and businesses like ours as we will certainly leverage on our manufacturing and EPCC expertise to seek opportunities.”
“We have made inroads into Peninsular Malaysia focusing on small to mid-sized projects and we are exploring opportunities in Indonesia for the construction of 4G telecommunications infrastructure as well as how we can leverage our manufacturing facilities for the new Indonesian capital at Nusantara in Kalimantan. SCIB will continue to seek projects in Sabah and Sarawak in which RM5.2 billion and RM4.6 billion were allocated respectively under Budget 2022. We are also exploring the use of technologies such as the 3D printing system and automation as part of the next phase of growth in the construction industry.”
As of 30 June 2022, SCIB has an order book of RM1.52 billion with earnings visibility until 2026.
