Saturday, October 8

SCIB posts RM37.55 mln revenue for 3QFY22

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SCIB’s manufacturing division is the largest contributor to revenue at RM22.10 million. — Photo from scib.com.my

KUCHING (May 27): Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) recorded RM37.55 million in revenue for the quarter ending March 31, 2022 (3QFY22).

There is no comparison for the corresponding quarter of the previous financial year as SCIB changed its financial year-end from the financial year-end of Dec 31, 2020 (FYE311220) to June 30, 2021 (FPE300621) on May 24, 2021.

For the quarter under review, SCIB registered both a loss before tax (LBT) and a loss after tax (LAT) of RM1.97 million.

On a segmental basis, the manufacturing division is the largest contributor to revenue at RM22.10 million, followed by the construction/ EPCC division as well as the property trading division, which recorded revenues of RM15.14 million and RM319,000 respectively.

For the nine-month period ending March 31, 2022 (9MFY22), SCIB reported revenue of RM102.18 million. The company also recorded an LBT and an LAT of RM6.03 million.

“We are constantly striving to create value and optimising performance for SCIB in the year ahead,” said SCIB group managing director/chief executive officer Rosland Othman.

“SCIB has been proactively supporting numerous state-funded people-centric construction projects in Sarawak. This is evident through our recently secured road infrastructure projects in the state, which is also a testament to our reliable and sustainable services.”

Roslan added that opportunities are observed not only in East and Peninsular Malaysia but also in neighbouring countries.

“We believe that we are well-poised to capitalise on the opportunities, as our complimentary cores in construction and building materials manufacturing equipped us with the qualifications and experiences required,” he added.

“There are also projects in the midst of being tender, and we are hopeful that there will be fruitful outcomes for the tender. As such, SCIB will strive its best to grow the group’s business prudently by strengthening its capabilities and capacities in all our segments.

“Moving forward, SCIB holds a hopeful view for its prospects in the financial year 2022 as our current order book value stood at RM1.3 billion as of December 2021 and this translates into healthy earnings visibility up to 2026.”