KUCHING: Sarawak Consolidated Industries Bhd (SCIB), through its wholly-owned subsidiary SCIB Industrialised Building System Sdn Bhd (SIBS), has secured a RM32.78 million contract to build a new school in Sabah.
SIBS received a letter of award from Belian Juta Sdn Bhd for an engineering, procurement, construction and commissioning (EPCC) contract involving the construction of SMK Balaban Jaya in Beluran.
The project will include 18 classrooms and supporting facilities, built in line with standardised education infrastructure specifications, SCIB said in a press statement.
Construction is scheduled to begin today and is expected to be completed by Nov 29, 2027, a duration of about 19 months.
SCIB executive chairman Datuk Chong Loong Men said the contract reflects the group’s continued ability to secure and deliver projects within the education infrastructure segment.
“Sabah remains a key growth region and this project further strengthens our presence in East Malaysia. As we progress throughout strategic realignment, we remain focused on building a resilient order book and delivering consistent execution across our core construction activities,” he said.
He added that Malaysia’s construction sector continues to be supported by sustained public infrastructure spending, with education facilities playing an important role in national development priorities.
SCIB said the contract strengthens its footprint in the construction and EPCC segment, in line with its strategic realignment, which includes a proposed divestment of its manufacturing business to focus on core construction activities.
In a separate development, Sealink International Bhd plans to establish an employees’ share option scheme (ESOS) of up to 15 per cent of its issued shares (excluding treasury shares, if any) for eligible employees.
The proposed ESOS will be in place for five years. Sealink currently has an issued share capital of about RM329.1 million, comprising 500 million shares.
The company said the scheme is aimed at recognising and rewarding employees whose contributions are vital to the group’s operations and long-term growth.
It also seeks to motivate employees to improve performance, take on greater responsibility, and participate in the group’s future prospects, including potential capital gains from share price appreciation.
Miri-based Sealink is involved in marine vessel chartering, shipbuilding and ship repair.
“The chartering segment is expected to remain as the primary contributor to the group’s revenue. Increased offshore activity levels supported higher vessel deployment, although margins continued to be affected by competitive pricing and the impact of lower-rate long-term contracts.
“As a result, revenue growth did not translate proportionately into profitability. The group has since placed greater emphasis on contract selection, with a focus on improving margin quality and earnings sustainability,” the company said.
Sealink expects performance to improve gradually as market conditions stabilise.
“With a stronger operational foundation, a leaner cost structure and a more disciplined approach to execution, we believe the group is well positioned to navigate the evolving landscape and capture opportunities for sustainable growth,” it added.
