Thursday, September 29, 2011

SCIB ... Sep11

Its precast concrete products and industrialised building systems (IBS) are in demand for the construction of manufacturing plants by energy-intensive industries and access roads to hydroelectric dam projects in Sarawak Corridor of Renewable Energy (Score).

SCIB was now supplying precast concrete products, like foundation piles and U culverts, worth more than RM3mil to Tokuyama Corp and Press Metal Bhd's projects in Samalaju Industrial Park, Bintulu. Tokuyama is constructing a polycrystalline silicon plant while Press Metal is building a new aluminium smelter.

SCIB is expecting more jobs from Tokuyama in its phase II expansion project and Press Metal. SCIB was also looking into supply contracts to other potential clients when they started to build their factories in Samalaju Industrial Park. These clients include Asia Minerals Ltd and OM Materials, which are now both undertaking earth works to set up manganese smelting plants. Another 10 investors were reportedly planning manufacturing facilities in Samalaju to take advantage of the competitive power from the 2,400MW Bakun dam.

SCIB was supplying infrastructure products for the construction of access roads to the 944mw Murum dam under construction and pre-stressed beams for the construction of new bridges.

Due to labour shortage and product quality concerns, more developers had opted for precast concrete products and IBS prefabricated concrete components for their projects.

In the earlier years, SCIB's IBS components were used mainly in the construction of rural public libraries.

SCIB now owns and operates three factories in Kuching under wholly-owned subsidiaries SCIB Concrete Manufacturing Sdn Bhd, SCIB Industrialised Building System Sdn Bhd and SCIB Infrasworks Sdn Bhd.

SCIB's group revenue had been growing by about 15% yearly in the past four years.

Besides catering to the Sarawak market, SCIB which has some RM15mil contracts in hand exports its products to Sabah and Brunei.

For the financial year ended Dec 31, 2010, the SCIB group registered revenue of RM43.9mil and a net profit of RM825,000. It returned to the black last year after several periods of consecutive losses.

For the first half of 2011, the group posted a pre-tax profit of RM1.04mil while revenue stood at RM22.1mil against a pre-tax loss of RM439,000 and revenue of RM20.8mil in the previous corresponding period.

No comments: