Reference is made to the Company’s announcement dated 18 May 2021 in relation to Engineering, Procurement, Construction and Commissioning (“EPCC”) contract awarded to its wholly-owned subsidiary, SCIB PROPERTIES SDN. BHD. (Registration No.: 200101019135 (554892-V)) (“SCIBP”) by AUEI TERAS HOLDINGS SDN. BHD. [Registration No.: 200501001895 (678941-A)] (“AUEI”) for Cadangan Membina dan Menyiapkan 632 Unit Perumahan Rakyat 1 Malaysia (“PRIMA”) Fasa 1, at Kubang Kerian, Kota Bahru, Kelantan (“Project”). 

The estimated contract value of the contract awarded above excluding Dewan Serbaguna, Surau, Nurseri & Kindergarten, Pondok Pengawal and Infrastructure works was RM120,000,000.00 (Ringgit Malaysia: One Hundred Twenty Million Only). 

On 5 April 2024, SCIBP had signed the Novation Agreement with AUEI to appoint SCIB INDUSTRIALISED BUILDING SYSTEM SDN. BHD. [Registration No.: 200101019137(554894-A)] (“SIBS”) as a Main Contractor for the Project.

The Board of Directors of SCIB wishes to announce that SIBS, a wholly-owned subsidiary of SCIB, had on 8 April 2024, accepted a Revised Letter of Award and Acceptance (“RLOA”) for securing a Sub-Contract Works from AUEI, subject to the terms and conditions as stipulated in the RLOA (“Contract”).

Further details of the Announcement are set out in the attachment below.

This announcement is dated 8 April 2024.