ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Jul 27, 2023 16:49 JST
Source:
Sarawak Consolidated Industries Bhd
Sarawak Consolidated Commences Legal Action against Dynamic Prestige Consultancy
SCIB Asserts Legal Rights in Pursuit of Outstanding RM14 Million Refund
KUCHING, MALAYSIA, Jul 27, 2023 - (ACN Newswire) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that it has initiated legal proceedings against Dynamic Prestige Consultancy Sdn. Bhd from an unfulfilled refund of RM14,000,000.00.
Ku Chong Hong, Managing Director of SCIB
The sum was an initial payment in anticipation of a strategic business partnership in the Engineering, Procurement, Construction and Commissioning (EPCC) sector. As part of the agreement, Dynamic Prestige Consultancy Sdn. Bhd. was to propose a Redeemable Convertible Preference Shares (RCPS) scheme in their company. SCIB, having decided not to proceed with the RCPS, has sought the agreed refund. However, to date, Dynamic Prestige Consultancy Sdn. Bhd. ("Dynamic Prestige") has failed to honour this agreement.
In response to the ongoing litigation, Mr. Ku Chong Hong, Group Managing Director of SCIB, stated, "The initiation of this legal action is a necessary step to protect our company's interests and uphold our financial integrity. We have always operated with full adherence to our contractual obligations and expect the same level of commitment from our partners. We remain confident in our legal position and are committed to ensuring the best outcome for our shareholders and stakeholders."
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 ©2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Honda to Expand Motorcycle Production Capacity in India by Adding New Motorcycle Production Line to its Second Plant
Mar 19, 2026 18:32 JST
Honda WN7 Electric Motorcycle Wins Gold Award at iF DESIGN AWARD 2026
Mar 19, 2026 18:16 JST
Hitachi, The University of Technology Sydney and NTT DATA Sign MoU to Accelerate Green Transformation in Australia
Mar 19, 2026 18:08 JST
MHI Thermal Systems Expands Lineup of Air-to-Water Heat Pumps for the European Market
Mar 19, 2026 15:14 JST
DENSO Invests in Next Core Technologies to Enhance Performance of Electric Vehicles
Mar 19, 2026 14:25 JST
NEC Completes Design of Equipment for Technology Demonstration Satellite Aimed at Creating Japan's First Optical Communication Satellite Constellation
Mar 19, 2026 11:05 JST
Eisai: Regarding Discontinuation of Administration of "Tazverik(R) Tablets 200mg" (tazemetostat hydrobromide)
Mar 19, 2026 10:54 JST
Hitachi is recognized as one of the World's Most Ethical Companies(R) for a second consecutive year
Mar 19, 2026 10:41 JST
MHI Commends Outstanding Examples of Implementing its New Management Policy "ITO"
Mar 18, 2026 13:09 JST
FILMART and EntertainmentPulse open today
Mar 17, 2026 21:41 JST
TANAKA PRECIOUS METAL GROUP Provides Medals, Commemorative Items, and Trophies as Category Sponsor (Awards Ceremonies) for the LIGA.i Blind Soccer Top League 2025
Mar 17, 2026 21:00 JST
Eisai Established the Global Capability Centre in Visakhapatnam, India, to Standardize Global IT Infrastructure Operations and Digital Transformation
Mar 17, 2026 19:49 JST
Successful Flight Demonstration of Mission Autonomy Developed for Use in Unmanned Aerial Vehicles
Mar 17, 2026 14:11 JST
The University of Tokyo and NEC conclude a Strategic Collaboration Agreement to promote a prosperous society where people and AI succeed together
Mar 17, 2026 12:34 JST
Hitachi Energy Japan Recognized as a 2026 Health & Productivity Management Outstanding Organization (Large Enterprise Category)
Mar 16, 2026 16:20 JST
Fujitsu Japan and Teikyo University Hospital launch joint proof of concept to build mechanism for data analysis and referred-patient management
Mar 16, 2026 12:55 JST
FWD Group delivers record full year 2025 results with profitable growth, improved capital and cash flow generation
Mar 16, 2026 10:25 JST
Mitsubishi Shipbuilding Completes Handover of WAKASHIO MARU Training Ship for National Institute of Technology, Toyama College
Mar 13, 2026 16:01 JST
Mitsubishi Heavy Industries to Introduce 10MW-Class Centrifugal Chiller for Next-Generation AI Data Centers in North America
Mar 13, 2026 14:10 JST
Spritzer Sparkling's 'Serikan Raya, Sparkling-kan Suasana' Festive Fusion Message Promotes Togetherness and Tradition with a Light, Modern Twist
Mar 13, 2026 12:45 JST
More Latest Release >>
Related Release
SCIB Reports 14.6% Revenue Growth to RM45.1 Million in Q1FY2025
November 28 2024 10:00 JST
The 15th Annual Global CSR & ESG Awards Honours 2023 Winners
August 30 2023 12:00 JST
SCIB Reports Q4FY2023 Financial Results with Revenue of RM33.3 Million, Gross Profit of RM6.5 Million and Highlights Growth Opportunities
August 29 2023 14:00 JST
SCIB Celebrates Sarawak Day With Life-Saving Blood Donation Drive
July 21 2023 18:00 JST
SCIB Announces Restructuring at Board Level
June 28 2023 18:00 JST
SCIB Posts Revenue of RM32.4 Million for 3Q
May 25 2023 22:00 JST
SCIB Granted RM16.8 Million Contract for School Construction
March 28 2023 13:00 JST
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
More Press release >>