News

SCIB's earnings, revenue jump significantly in FY20

KUALA LUMPUR, Feb 26 -- Sarawak Consolidated Industries Bhd’s (SCIB) net profit jumped to RM52.17 million in its financial year ended Dec 31, 2020 (FY20) from RM3.15 million in FY19.

Revenue for FY20 appreciated by 499.69 per cent to RM516.02 million from RM86.05 million year-on-year, as the construction and engineering, procurement, construction, and commissioning (EPCC) segment being the biggest revenue contributor to the group at RM449.9 million. 

Group managing director and chief executive officer Rosland Othman said the group would keep on strengthening its financial position and ensuring SCIB remain profitable for the foreseeable future.

“Previously we had always focused our business operations in Sarawak. However, now we have turned our attention to the continued expansion of our services into Peninsular Malaysia, Indonesia, Qatar and Oman, as well as bidding for bigger EPCC jobs that will further boost our revenue,” he said in a statement on Friday. 

Rosland said SCIB estimates its current order book at RM2.2 billion as the group has secured local and international projects in early February, which would make it occupied in the coming years.

“This gives us the needed impetus to reach our goal of growing our order book to RM2.5 billion this year,” he added.

In respect of FY20, SCIB’s board of directors have declared a third interim single-tier tax-exempt dividend of 1.9 sen per ordinary share to be paid on March 30, 2021. 

-- BERNAMA

 

 

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