Construction and Engineering, Procurement, Construction and Commissioning (“EPCC”) specialist, Sarawak Consolidated Industries Berhad (“SCIB” or the “Company”), today announced the successful conclusion of its Forty-Ninth Annual General Meeting (“49th AGM”), with shareholders approving all resolutions tabled at the meeting.
The strong shareholder support reflects continued confidence in SCIB’s Board, governance framework and ongoing strategic realignment as the Company sharpens its focus on its Construction and EPCC segment following recent corporate developments.
At the 49th AGM, shareholders approved the payment of Directors’ fees for the period from 1 January 2026 until the next AGM in 2027. Shareholders also approved the re-election of Mr. Ku Chong Hong, Datuk Chong Loong Men, Mr. Leow Wey Seng, Ms. Tan Li Peng and Mr. Ling Chi Hoong as Directors of the Company.
In addition, shareholders approved the re-appointment of Messrs. Kreston John & Gan as Auditors of the Company, and authorised the Directors to fix their remuneration. The approval reflects shareholders’ continued support for the Company’s financial reporting and audit governance framework.
Shareholders also approved the authority for the Directors to issue and allot shares pursuant to Sections 75 and 76 of the Companies Act 2016, together with the waiver of statutory pre-emptive rights. The mandate provides SCIB with flexibility to issue new shares of up to 10% of the total number of issued shares of the Company, subject to applicable regulatory requirements, to support future funding needs, working capital requirements, investment projects or acquisitions when appropriate.
Non-Independent Non-Executive Chairman Datuk Chong Loong Men commented,
“We would like to thank our shareholders for their continued trust and support at our 49th AGM. Their approval of all resolutions provides the Company with a strong mandate to move forward with confidence as we continue to strengthen governance, improve operational discipline and realign SCIB towards a more focused Construction and EPCC-driven business model.
Following the completion of key corporate exercises and the Group’s ongoing transition, our focus remains on rebuilding project momentum, enhancing financial flexibility and pursuing opportunities that can contribute to sustainable long-term value creation. We remain committed to maintaining transparency, accountability and disciplined execution as we advance into SCIB’s next phase.”
The Company’s Audited Financial Statements for the financial period ended 31 December 2025, together with the Reports of the Directors and Auditors, were also tabled and received by shareholders at the meeting.
Looking ahead, SCIB remains focused on strengthening its core Construction and EPCC capabilities, replenishing its project pipeline and improving execution efficiency. With shareholder support secured, the Company is better positioned to navigate its recovery phase and participate in infrastructure and development opportunities across Malaysia, particularly in Sarawak and Sabah.
For more information, visit scib.com.my.
