InstaForex

September 2, 2021

Wins RM80 Million Contract, SCIB Is Optimistic Of Positive Impact To The Group

 Sarawak Consolidated Industries Bhd (SCIB) received a contract worth an estimated RM80 million to implement project development in Johor Bahru.


Meanwhile, SCIB said the engineering, procurement and commissioning (EPCC) contract from Kencana Healthcare Sdn Bhd (KHSB) is for a period of 10 years.


It is likely to be extended jointly for the next five years.


Based on the statement issued, the value of RM80 million is the maximum purchase allocation for all equipment to be supplied and is based on the capital equipment lease concession.



The scope of work is expected to include sourcing and negotiation of all medical equipment based on the list of supplies to be provided by KHSB.


He added that SCIB was asked to provide a comprehensive implementation for 10 years after the implementation and all that will be approved by the operator, the National Heart Institute (IJN).


The contracts secured are also expected to contribute a positive impact to SCIB Group's earnings in the future over the term of the contract.


As at 11.44am, SCIB's share price had increased 2.44% to 0.63 sen with a market capitalization of RM313.37 million.