SCIB posts RM12.2mil profit in March quarter
KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB), a company controlled by Datuk Mohd Karim Abdullah, (pic) made a net profit RM12.2mil on revenue of RM175mil for three-month ended March 31.
Similarly, in May both SCIB and Karim’s flagship Serba Dinamik Holdings Bhd changed their financial year end from Dec 31 to June 30.
The two companies cited Covid-19 difficulties that hampered their abilities to finalise financial accounts as reasons for the change.
SCIB is one of the largest precast concrete and Industrialised Building System in Sarawak and Sabah.
“With the contract announced in first quarter of 2021, SCIB’s order book value on hand stood at RM2.4bil, ” it said in a filing with Bursa Malaysia yesterday.
It added that this would give the company’s earnings visibility up to 2030.
“Barring any unforeseen circumstances, the group holds a prudent view on business prospects till the stable global recovery from Covid-19 pandemic is observed.
The group remains committed to achieve a satisfactory performance in 2021, ” it said.