KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB), via its wholly-owned subsidiary, SCIB Properties Sdn Bhd, has received a letter of award for an engineering, procurement, construction and commissioning (EPCC) contract valued at RM30.75 million from Ennova Sdn Bhd
In a filing with Bursa Malaysia today, the construction and concrete products maker said the contract involves replacing 200 units of lamp poles within the Klang Valley for Kuala Lumpur City Hall, or Dewan Bandar Kuala Lumpur (DBKL).
The project engineering services for DBKL’s integrated smart lamp pole replacement is expected to start in June 2022 and end in May 2023.
“The contract is expected to contribute positively to SCIB Group’s future earnings as any profit attributable to the group would be realised in stages during the tenure and progress of the contract,” it said.
The contract will not affect the issued share capital and the shareholdings of substantial shareholders nor SCIB’s net assets and its group of companies for the financial year ending June 30, 2022, the filing said.
The contract is subject to normal business risks such as rise in materials cost, availability of skilled workforce, contractual terms including default provision, subcontractors’ performance and health and safety on standard operational procedures.
“However, SCIB will put in place control measures and operational procedures to mitigate the expected risks,” it added. – BERNAMA
