KUCHING: Sarawak Consolidated Industries Bhd (SCIB) will proceed with its extraordinary general meeting (EGM) on January 15, 2026 as scheduled while waiting for the outcome of the company’s proposed disposal of its manufacturing business.
The EGM, which is to seek shareholders’ approval on the company’s proposed renounceable rights issue with warrants, and proposed share capital reduction, will not be delayed, SCIB said in a press statement.
On November 18, 2025, SCIB announced a major corporate development involving the proposed disposal of 100 per cent equity interest in SCIB Concrete Manufacturing Sdn Bhd to YTL Cement (Sarawak) Sdn Bhd for RM113 million, subject to adjustments in accordance to the share sale & purchase agreement entered into between the parties.
“If the proposed disposal goes ahead, the group’s overall direction and funding needs may change, meaning that some parts of the current utilisation plans for the proposed rights issue with warrants, especially those related to manufacturing, may no longer be suitable.
“Therefore, the company will decide at the right time whether to continue with the proposed rights issue with warrants or move forward with the proposed disposal. If the proposed disposal is not approved by shareholders or does not proceed, SCIB plans to implement the rights issue under its existing structure.
“However, if the proposed disposal is approved at the expected EGM in March 2026,the company will not proceed with the current version of the rights issue and may instead introduce a revised proposal after reassessing its funding needs and obtaining the necessary regulatory approvals,” explained the company.
SCIB has proposed renounceable rights issue of up to about 763.62 million new ordinary shares together with the same number of free detachable warrants on the basis of one rights together with one warrant for every one existing share held by entitled shareholders on an entitlement date to be determined later.
Meanwhile, SCIB reported group net loss of RM2.36 million on revenue of RM46.2 million in the three-month quarter from July to September 2025.There are no comparison figures as the company has changed its financial year.
Losses per share was 0.34sen. On a 15-month period to September 30, 2025, SCIB suffered group net loss of RM4.25 million on revenue of RM221.2 million.
The manufacturing segment reported revenue of RM146.7 million and pre-tax profit of RM13.4 million but the construction and EPCC segment incurred pore-tax loss of RM2.64 million on revenue of RM75.47 million.
The loss was due to the revision of budgeted costs for an existing major project and partially offset by the recovery of impairment losses on other receivables. In the current quarter under review, the manufacturing segment reported revenue of RM33.86 million and pre-tax profit of RM3.7 million while the construction and EPCC segment turned in sales of RM12.33 million but incurred pre-tax loss of RM3.8 million.
“Compared to the immediate preceding quarter, the company’s revenue increased by 9.1 per cent from RM42.33 million, driven by stronger manufacturing sales.
However, the company’s profitability weakened as the construction and EPCC margins softened due to project-specific cost pressures.
The construction and EPCC segment registered lower revenue of RM12.33 million compared to RM17.62 million in the preceding quarter,” said the company. SCIB’s executive chairman Datuk Chong Loong Man said the company’s latest quarter results reflected its continued effort to streamline operations and refine its focus on construction and EPCC activities.
“With improved quarteron-quarter revenue and a stable performance across our business segments, we remain committed to strengthen project execution, optimising resources and enhancing overall operation efficiency.
These on-going efforts place SCIB in a favourable position to pursue upcoming opportunities as we advance into the next phase of our transformation,” he added. SCIB said the macroeconomic outlook remains supportive as Malaysia maintains growth domestic products (GDP) growth of four to 4.8 per cent in 2025, with continued domestic investment momentum, and strong development allocations under Budget 2026 and 13th Malaysia Plan.
In Sarawak, the company said the state continues to benefit from significant infrastructure investments, including SarawakSabah Link Road, autonomous rapid transit in Kuching, and wider SCORE-linked industrial expansion.
These developments are expected to generate sustained demand for construction services, precast products, community development projects and industrial upgrading.
“SCIB’s established presence, proven capabilities in industrialised building system (IBS) and precast solutions, and its on-going operational realignment position the company to capture upcoming public and private sector opportunities across Sarawak and Peninsula Malaysia,” said the company
