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 ©2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
EASD 2025 | HighTide Therapeutics Announces Oral Presentation of Phase 3 Data in Patients with Type 2 Diabetes
Sep 17, 2025 09:00 JST
Honda Develops New "Chemical Sorting" Technology to Separate Solid Contaminants from Waste Plastics Derived from End-of-life Automobiles
Sep 16, 2025 15:00 JST
NEC Publishes ESG Initiatives Supporting Sustainable Growth of Companies and Society in "ESG Databook 2025"
Sep 16, 2025 14:00 JST
JSR Corporation/Inpria Corporation and Lam Research Enter Cross Licensing and Collaboration Agreement to Advance Semiconductor Manufacturing
Sep 16, 2025 09:00 JST
Toyota Launches Next-Generation New Mobility e-Palette
Sep 15, 2025 15:33 JST
The University of Osaka D3 Center Commences Operation of New Computing and Data Infrastructure Built by NEC
Sep 12, 2025 15:08 JST
GR Yaris "Aero performance package" Set for Japan Launch
Sep 12, 2025 14:40 JST
Mitsubishi Heavy Industries Achieves Target Performance at Pilot Plant for Bioethanol Membrane Dehydration Systems
Sep 12, 2025 14:19 JST
"New Answers to Dementia" Eisai Releases Concept Movie and New Content on Campaign Website for Dementia Month
Sep 12, 2025 13:20 JST
TANAKA PRECIOUS METAL TECHNOLOGIES Succeeds in Developing High-Performance Palladium Alloy Hydrogen Permeable Membrane Operable in the Low-Temperature Range of 300 degrees C
Sep 12, 2025 11:00 JST
CO2NNEX(R) Digital Platform for Transfer and Management of e-Methane Clean Gas Certificates to Be Utilized in Nagaoka Methanation Demonstration
Sep 11, 2025 20:37 JST
Hitachi accelerates growth with major U.S. investments in advanced manufacturing, electrification and workforce development
Sep 11, 2025 18:35 JST
GlobalLogic and Ericsson Deploy Private 5G Network at Hitachi Rail's State-of the-Art Digital Factory
Sep 11, 2025 17:24 JST
GlobalLogic and Flexware Innovation Announce Major Deployment of LIFT at Hitachi Rail's State-of-the-Art Train Manufacturing Facility
Sep 11, 2025 16:46 JST
JCB Unveils New Brand Message in Vietnam: "Japan Cung Ban"
Sep 11, 2025 13:00 JST
Kawasaki City becomes first dekokatsu subsidy municipality for promoting decarbonization lifestyle promotion project
Sep 11, 2025 10:35 JST
TGR Plans to Reproduce Engine Parts for Corolla Levin / Sprinter Trueno (AE86)
Sep 10, 2025 18:11 JST
TANAKA Acts as Category Sponsor for the LIGA.i Blind Soccer Top League 2025
Sep 10, 2025 03:00 JST
Toyota Submits Fourth Progress Report on Measures to Prevent Recurrence
Sep 09, 2025 19:26 JST
The 46th Honda Prize 2025 Awarded to Dr. Kenichi IGA
Sep 09, 2025 19:06 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 >>