KUALA LUMPUR (Feb 7): Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) announced that the company had on Feb 6, 2023 signed a memorandum of understanding (MoU) with Bintai Kinden Corporation Berhad (Bintai Kinden) to establish a strategic alliance for exploring business opportunities, securing new projects, and sharing profits.
The MoU is a preliminary step the parties are taking as they explore a working relationship and cooperation to combine skills, expertise, capabilities, and experience to collectively bid for projects in Malaysia and to set out the principal terms of the arrangement between the parties.
The JV vehicle to be used is SCIB’s wholly-owned subsidiary, SCIB Infraworks Sdn Bhd, in which SCIB will retain a 51 per cent stake in the JV while Bintai Kinden will subscribe to the remaining 49 per cent.
Bintai Kinden is a mechanical and electrical (M&E) engineering services specialist listed on the Main Market of Bursa Malaysia, with unique combination of extensive regional experience and local knowledge.
“We welcome this strategic alliance with Bintai Kinden as both parties can leverage each other’s strengths and expertise that add value to any projects we are involved in together,” said SCIB group managing director Rosland Othman.
“SCIB’s manufacturing arm, the leading precast concrete and Industrialised Building System products manufacturer in East Malaysia, is already supporting our construction arm in projects throughout the country.
“Our focus on small-to-mid-sized construction healthcare, educational and utility facilities as well as rural infrastructure projects together with investment in technology such as 3D printing and automation are also strengths that we can leverage on for the future JV projects.”
SCIB executive director Ku Chong Hong said the JV brings together two teams with core expertise and knowledge in construction and engineering that will give an edge to projects undertaken together.
“We expect to see more infrastructure projects in the pipeline as Malaysiaís construction sector gains momentum on the back of economic growth.”
Bintai Kinden executive director Azri Azerai said, “We look forward to a fruitful partnership with SCIB as we seek opportunities together across the country.
“Bintai Kinden’s core expertise is M&E services, and as a multi-disciplined building and industrial service engineers and specialists, we work in all the major market sectors, from commercial buildings to industrial complexes.
“We design, install and commission systems that include the full range of engineering services which we believe can complement the JV.”