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Stocks linked to Serba Dinamik s Karim plunge as counter hits limit down

Serba Dinamik bogged down

Carlsberg Brewery, DNeX, Sarawak Consolidated, Econpile, Green Packet, GHL, Media Prima, AirAsia Group, Cycle & Carriage and Minetech Resources

Carlsberg Brewery, DNeX, Sarawak Consolidated, Econpile, Green Packet, GHL, Media Prima, AirAsia Group, Cycle & Carriage and Minetech Resources
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SCIB buys loss-making Selangor construction firm to expand biz in Peninsular Malaysia

KUALA LUMPUR (April 14): Sarawak-based Sarawak Consolidated Industries Bhd (SCIB), whose largest shareholder is Datuk Dr Mohd Abdul Karim Abdullah, the billionaire behind Serba Dinamik Holdings Bhd, is acquiring a loss-making construction firm in Seri Kembangan, Selangor for RM4.98 million to explore business expansion plans in Peninsular Malaysia. In a bourse filing, SCIB said the group inked a conditional share sale agreement with three individuals Noorazylawati Abdul Bakar, Mohd Khairil Mohd Hatta and Ibrahim Mohd Noor to acquire Kencana Precast Concrete Sdn Bhd (KPCSB). It will settle the purchase via a combination of internal funds and/or bank borrowings. SCIB said the purchase price was arrived at after taking into consideration the market value of a parcel of land owned by KPCSB, which was appraised to be worth RM5 million (about RM47 per square foot), based on a valuer s report in mid-2019. No other details of the plot were provided.

SCIB secures EPCC contract worth RM135mil

(SCIB), has clinched a RM135 million engineering, procurement, construction and commissioning (EPCC) contract. SCIB said the letter of award (LOA) from Puncak Gemilang Melati Sdn Bhd was for Phase 1 of the proposed Malaysia Civil Servants Housing Programme (PPAM) in Muallim, Perak. The 26-month contract would run from April 1, 2021, to June 1, 2023, the company said in a filing with Bursa Malaysia today. The scope of the LOA includes overall earthwork, infrastructure and building as well as mechanical and engineering works and ancillary works. Any profits attributable to the group would be realised in stages over the tenure of the contracts based on the progress of the projects, it said.

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