ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
Home
Press release
Jan 27, 2023 14:00 JST
Source:
Sarawak Consolidated Industries Bhd
SCIB Enforces Rights to Withdraw from Project
Company to be reimbursed commitment fee paid out for the project following mutual agreement
KUCHING, MALAYSIA, Jan 27, 2023 - (ACN Newswire) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company has issued a letter of withdrawal to Kencana Healthcare Sdn. Bhd. (KHSB) for the proposed engineering, procurement, construction and commissioning (EPCC) contracts involving a specialist hospital project located in Johor Bahru.
Group MD and CEO of SCIB, Encik Rosland bin Othman
SCIB had accepted a letter of award from KHSB dated 13 August 2021 for EPCC contracts involving the capital equipment procurement as well as the leasing concession for the procurement, supply, installation, testing and commissioning of medical equipment. SCIB and KHSB have mutually agreed to the Company withdrawing from the project.
As part of the withdrawal from the project, KHSB will reimburse under a settlement agreement, the commitment fee amounting to RM1.65 million that SCIB had paid out in two tranches. The withdrawal from the contracts will not have any material effect on the gearing, earnings per share and net assets of the Company for the financial year ending 30 June 2023.
Group Managing Director of SCIB, Encik Rosland bin Othman said, "The Company is enforcing its rights under the contracts and taking the necessary measures to protect SCIB's interests in mitigating the risks arising from the long delay or non-movement of project progress due to the uncertainties and inability to secure the necessary operator for the project. Additionally, this decision was made due to reviewing and updating our order book records to reflect the current situation."
Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB],
http://scib.com.my
Source: Sarawak Consolidated Industries Bhd
Sectors: Daily Finance, Daily News, Construct, Engineering, Local Biz
Copyright ©2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Eisai to Present Research from Oncology Portfolio at The Society of Gynecologic Oncology (SGO) 2023 Annual Meeting on Women's Cancer
Mar 24, 2023 13:22 JST
Mitsubishi Corporation: PoC Launched in Portland, Oregon to Develop Smart Multifamily Apartment
Mar 24, 2023 11:02 JST
MHI and PLN Nusantara Power to Jointly Investigate Co-Firing with Hydrogen, Ammonia and Biomass in Indonesia's Power Plants
Mar 24, 2023 10:26 JST
MHI Thermal Systems to Launch 22 Models of Residential-use Room Air Conditioners for the Japanese Market in 2023 (Domestic sales only)
Mar 24, 2023 10:17 JST
Fujitsu Announces Start of Acceptance Period of Takeover Offer for GK Software
Mar 23, 2023 20:28 JST
The Hitachi Group has started a strategic cooperation with the leading operator of non-cash payments Polskie ePlatnosci in the development of software and IT systems
Mar 23, 2023 18:10 JST
Eisai to Present New Lecanemab Data, Including Research Evaluating Safety Profile, Clinical Outcomes and Quality of Life Measures, as Well as Other Important Alzheimer's Disease Research, at the AD/PD 2023 Annual Meeting
Mar 23, 2023 13:30 JST
Fujitsu and Osaka University develop new quantum computing architecture, accelerating progress toward practical application of quantum computers
Mar 23, 2023 11:14 JST
Fujitsu named a "Nadeshiko Brand" company for promoting women's success
Mar 22, 2023 16:45 JST
Mitsubishi XRT Concept to Debut at Bangkok International Motor Show 2023
Mar 21, 2023 15:00 JST
Toyota Launches the C+walk S in Japan, a New Form of Walking-Assistance Mobility
Mar 20, 2023 18:00 JST
Another record win for Ogier aboard the GR YARIS Rally1 HYBRID
Mar 20, 2023 14:41 JST
TOYOTA GAZOO Racing secures Sebring one-two
Mar 20, 2023 14:25 JST
Eisai Publishes Societal Value of Lecanemab Using Phase 3 Clarity AD Data in Peer-Reviewed Neurology and Therapy Journal
Mar 20, 2023 11:18 JST
Liquid Hydrogen-Powered Corolla to be Absent from Round 1 of the Super Taikyu Series at Suzuka Development to Continue for Fuji 24 Hours Race
Mar 20, 2023 09:48 JST
Mitsubishi Heavy Industries Power IDS to Upgrade Steam Turbine Generators at Incineration Plant in Taiwan
Mar 17, 2023 22:35 JST
Fujitsu Small Research Lab program strengthens industry-academia collaboration with growing global R&D network
Mar 17, 2023 10:31 JST
Fujitsu and Ochanomizu University establish new AI ethics research lab, leveraging AI technologies to promote gender equality
Mar 17, 2023 10:13 JST
TANAKA Establishes New Overseas Subsidiary in Seoul, Korea
Mar 16, 2023 11:00 JST
TANAKA Establishes New Overseas Subsidiary in Seoul, Korea
Mar 16, 2023 11:00 JST
More Latest Release >>
Related Release
SCIB Awarded RM20.65 million Project to Rebuild School
March 02 2023 19:04 JST
SCIB Posts Higher Revenue of RM66 Million in 1H FY2023
February 27 2023 18:00 JST
SCIB Terminates Indonesian Project
February 14 2023 18:00 JST
SCIB and Bintai Kinden in Strategic Alliance
February 07 2023 14:10 JST
SCIB Proposes Private Placement to Raise Up to RM10.98 Million
January 11 2023 18:00 JST
SCIB Concludes 46th AGM Successfully
December 08 2022 18:00 JST
SCIB Posts 14.5% Increase in Revenue to RM30.3 Million in 1Q FY2023
November 30 2022 20:00 JST
SCIB Announces Changes at Board Level
October 25 2022 15:00 JST
SCIB Unveils Sample IBS House Built with 3D Technology
October 04 2022 14:00 JST
Sarawak Consolidated Industries Berhad Appoints Directors
September 15 2022 21:00 JST
More Press release >>