KUCHING: Sarawak Consolidated Industries Bhd (SCIB) says its key strategy is to expand its presence and business beyond Malaysia.
Given the turbulent and uncertain global business trends across the world amidst the Coronavirus Disease 2019 (Covid-19) pandemic, the risk of recession is now higher and as a business, but SCIB assured that it is bracing for the worst and preparing for what the future might hold.
In its recently released 2019 Annual Report, SCIB group managing director/chief executive officer Rosland Othman in a statement, said: “Our key strategy would be to expand our presence and business beyond Malaysia.
“In addition to the secured five EPCC projects, SCIB has also accepted three Letters of Award and Acceptance (LOA) for EPCC projects in Oman and Qatar estimated to worth RM864.5 million in April 2020. At the same time, the group will continue to leverage on its strong presence and local-base in Sarawak, where a number of infrastructure projects are in the pipeline, including, among others the Pan Borneo Highway, Second Trunk Road, Sarawak Coastal Road and Bridges and the Water and Power Supply Grid Programme.”
He noted that SCIB’s construction division intends to push out into Indonesia, Oman and Qatar as an initiative towards business diversification.
“Indonesia would be undergoing one massive construction project to relocate its capital to Kalimantan while Qatar’s hosting of the FIFA World Cup 2022 and the development of a special economic zone in Oman presents opportunities for the company to explore,” he added.
SCIB is actively looking out for engineering, manufacturing, construction and commissioning (EMCC) jobs to strengthen its construction foothold and to build a credible track record in the construction industry.
“We want to position SCIB as the one stop integrated provider in civil construction and to achieve the synergies between the core business of precast concrete manufacturing and the construction works,” Rosland said.
“With these contracts securement, SCIB will be able to have synergistic opportunities to further strengthen our foothold across the Middle East Region,” he added, noting that up until now, SCIB has total up RM1.1 billion order book and is currently on track with its internal target of RM1.5 billion for 2020.
To pursue projects in the oil and gas (O&G) sector, SCIB said it is in the process of obtaining a license from Petroliam Nasional Bhd while at the same time, it is also looking to acquire another company with a license to allow it to undertake the civil infrastructure works in Malaysia’s O&G sector.
Moving forward, SCIB said it would tap onto its new management team with extensive experience in the domestic and international market to gradually become a multinational company capable of competing internationally.