SCIB, Bintai Kinden to jointly explore opportunities in construction, engineering sectors
07 Feb 2023
Sarawak Consolidated Industries Bhd (SCIB) has signed a memorandum of understanding (MoU) with Bintai Kinden Corp Bhd to explore business opportunities and share profits.
SCIB group managing director Rosland Othman said the joint venture (JV) allowed both parties to leverage each other’s strengths and expertise.
Rosland said SCIB’s manufacturing arm, the leading precast concrete and Industrialised Building System products manufacturer in East Malaysia, was already supporting Bintai Kinden’s construction arm nationwide.
“Our focus on small-to-mid-sized construction healthcare, educational and utility facilities as well as rural infrastructure projects together with investment in technology such as 3D printing and automation are also strengths that we can leverage on for the future JV projects,” he said in a statement.
SCIB executive director Ku Chong Hong said the JV brought together two teams with core expertise and knowledge in construction and engineering that would give an edge to projects undertaken together.
“We expect to see more infrastructure projects in the pipeline as Malaysia’s construction sector gains momentum on the back of economic growth,” said Ku.
The JV vehicle that will be used is SCIB’s wholly-owned SCIB Infraworks Sdn Bhd.
SCIB will retain a 51 per cent stake in the JV while Bintai Kinden will subscribe to the remaining 49 per cent.
Bintai Kinden is a mechanical and electrical engineering services specialist listed on the Main Market of Bursa Malaysia.