KUCHING: Sarawak Consolidated Industries Bhd (SCIB) has agreed to sell two parcels of land at Demak Laut Industrial Park to SCIB Concrete Manufacturing Sdn Bhd (SCM) for RM24 million, subject to adjustments for rental payments and service tax.
SCM, formerly owned by SCIB, was sold to YTL Cement (Sarawak) Sdn Bhd for RM113 million in cash.
The company continues to operate manufacturing facilities on the land under a tenancy agreement dated July 1, 2025.
According to SCIB’s filing with Bursa Malaysia, the group exercised its option to dispose of the properties on Oct 29, 2026, when both parties entered into a sale and purchase agreement.
The RM24 million consideration will be reduced by the total rental payments and related service tax paid by SCM since the tenancy agreement began.
The final adjustment remains subject to computation.
Meanwhile, SCIB has appointed Morison LC PLT as its external auditor, effective Oct 26, replacing Kreston John & Gan.
The newly appointed firm provides audit, tax and advisory services in Malaysia and is affiliated with the international Morison Global network.
SCIB chief executive officer Michael Tan Thian Zhi said the transition would support continuity in financial reporting without affecting the group’s operations.
“Our priority remains ensuring continuity in our financial reporting processes while upholding the standards of governance and transparency expected of a Main Market-listed company,” he said in a statement.
Tan said SCIB would continue executing its order book, improving operational efficiency and building on recent progress in Sabah.
He added that the group remained focused on business continuity, prudent financial management and sustainable growth opportunities nationwide.
