KUALA LUMPUR (March 2): Sarawak Consolidated Industries Bhd (SCIB) has secured a RM20.65 million contract from the Sarawak Public Works Department (JKR) to rebuild a school in Tebedu, Serian.

SCIB said the two-year contract, awarded to its wholly owned subsidiary SCIB Industrialised Building System Sdn Bhd, comes under the third phase of the Sarawak government’s RM1 billion allocation for dilapidated schools.

It is part of a nationwide programme to rebuild or renovate dilapidated schools, especially in rural areas, said SCIB group managing director Rosland Othman in a statement.

“The group’s construction arm has lots of experience in operating engineering, procurement, construction, and commissioning (EPCC) projects, while our background as a specialist in small-to-mid-sized rural infrastructure works covering roads to schools and hospitals ensures that we are well versed in projects of this nature," he added.

Rosland said SCIB will continue to seek projects where it can leverage its expertise as the leading precast concrete and industrialised building system manufacturer in East Malaysia.

"There are opportunities for us under the recently re-tabled Budget 2023, in which Sarawak was allocated RM5.6 billion and Sabah allocated RM6.5 billion. We also note with interest the RM920 million set aside for dilapidated schools in both states,” he said.

SCIB's share price closed up 0.5 sen or 3.57% at 14.5 sen on Thursday (March 2), giving the group a market capitalisation of RM84 million.