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KUALA LUMPUR (May 29): Sarawak Consolidated Industries Bhd (KL:SCIB) has appointed 36-year-old Michael Tan Thian Zhi as the industrialised building systems player’s new chief executive officer, effective immediately. In tandem, Ku Chong Hong has been redesignated from the group managing director/CEO to group managing director, according to SCIB in a bourse filing on Friday. Ku, 38, has held the dual post since June 2023. Meanwhile, executive chairman Datuk Chong Loong Men, 47, has been redesignated as the non-executive chairman, said SCIB. The group said Tan, the new CEO, began his career as a geotechnical engineer with Borneo Highway PDP Sdn Bhd, the project delivery partner for the Pan Borneo Highway Sabah. “Subsequently, he advanced into leadership positions within established contractor companies specialising in government infrastructure and construction projects. “In these roles, he has been responsible for strategic planning, operational leadership, and business development initiatives,” SCIB added. Meanwhile, the group logged a net profit of RM360,000 for the first quarter ended March 31, 2026, on a revenue of RM59.3 million. No comparative figures were available as the group changed its financial year end to end-December from end-October in September last year. Shares of SCIB ended unchanged at 13.5 sen on Friday, valuing the group at RM95.97 million.

KUALA LUMPUR (May 22): Sarawak Consolidated Industries Bhd (KL:SCIB) has aborted a proposed rights issue following the completion of the disposal of its manufacturing arm for RM113 million. In a filing with Bursa Malaysia on Friday, the group said it has completed the disposal of its wholly owned unit SCIB Concrete Manufacturing Sdn Bhd (SCM) to YTL Cement (Sarawak) Sdn Bhd, an indirect subsidiary of YTL Corp Bhd (KL:YTL). With SCM ceasing to be part of the group, SCIB said the intended use of proceeds from the rights issue — mainly for the manufacturing business of SCM — is no longer relevant. As such, the group will not proceed with the exercise. SCIB had proposed the rights issue, on the basis of one new share and one warrant for every one share held, on June 26 last year. The proceeds of up to RM53.45 million were earmarked for the construction of a new factory, purchase of machinery and repayment of bank borrowings. On Friday, SCIB said the disposal of SCM is part of its strategy to unlock value from the manufacturing business and refocus resources on its remaining construction and engineering, procurement, construction and commissioning (EPCC) activities. The group said it will reassess its operating structure and funding requirements and may consider a revised rights issue with warrants at a later date, subject to a fresh application to Bursa Malaysia Securities. “Our priority is to ensure that any future capital exercise is properly aligned with SCIB’s operational needs, financial position and long-term strategic direction,” executive chairman Datuk Chong Loong Men said in a statement. He added that the disposal would allow the group to unlock value from its manufacturing business and land bank, while strengthening its financial position to pursue larger and more sustainable opportunities in the construction and EPCC space. Separately, SCIB also announced the appointment of Ben Huang Vui Bing as its new chief operating officer. Huang, 38, has more than 13 years of experience in civil and structural engineering, project execution and construction management. The company said he will play a key role in overseeing operational execution, project delivery and construction management capabilities. SCIB shares fell half a sen, or 4%, to 12 sen on Friday, giving the group a market capitalisation of RM88.5 million.

KUALA LUMPUR – Pakar sistem bangunan perindustrian, Sarawak Consolidated Industries Berhad (SCIB) hari ini mengumumkan, para pemegang saham telah meluluskan semua resolusi yang dibentangkan di Mesyuarat Agung Luar Biasa (EGM), membuka jalan untuk pelaksanaan pelupusan transformasi dengan jumlah nilai realisasi berpotensi kira-kira RM151.19 juta. Cadangan yang diluluskan melibatkan daripada pelupusan 100 peratus kepentingan ekuiti dalam SCIB Concrete Manufacturing Sdn. Bhd. (SCM) dengan harga RM113.0 juta, berserta pelupusan tujuh bidang tanah dengan nilai gabungan yang dipersetujui terlebih dahulu sebanyak RM38.19 juta. Kelulusan penting ini menandakan langkah penting dalam penetapan semula strategik SCIB, yang membolehkan syarikat memanfaatkan nilai daripada perniagaan pembuatan dan aset bank tanahnya sambil meletakkan semula dirinya kepada pemain Pembinaan dan Kejuruteraan, Perolehan, Pembinaan dan Pentauliahan (EPCC) yang lebih fokus. Langkah pelupusan ini dijangka mengukuhkan kunci kira-kira SCIB dengan ketara melalui aliran masuk tunai segera dan kecairan yang lebih baik. Hasil daripada pelupusan ini akan disalurkan untuk membiayai projek Pembinaan & EPCC yang sedang berjalan dan akan datang, menyokong inisiatif pembangunan hartanah, mengukuhkan modal kerja dan mengoptimumkan struktur modal Kumpulan. Pengerusi Eksekutif SICB, Datuk Chong Loong Men berkata, sokongan kukuh daripada pemegang saham syarikat mencerminkan penjajaran yang jelas mengenai hala tuju masa depan Kumpulan. “Langkah ini membolehkan kami memanfaatkan nilai yang ketara daripada perniagaan pembuatan dan bank tanah kami, sambil mengukuhkan kedudukan kewangan untuk mengejar peluang lebih besar dan lebih mampan dalam ruang Pembinaan dan EPCC. “Kami secara berkesan menetapkan semula SCIB pada asas yang lebih kukuh dan lebih fokus,” katanya. Dengan kelulusan pemegang saham yang diperolehi, SCIB kini berada pada kedudukan untuk melaksanakan fasa pertumbuhan seterusnya dengan fokus strategik lebih jelas, kunci kira-kira yang lebih kukuh dan disiplin modal yang lebih baik.