Sarawak Consolidated bags five EPCC contracts worth RM175.4 mil

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KUALA LUMPUR (Oct 25): Sarawak Consolidated Industries Bhd has bagged five engineering, procurement, construction and commissioning (EPCC) contracts worth RM175.4 million.

Three contracts worth USD27.99 million (approximately RM117.2 million) are based in Indonesia, Qatar and Oman, while another two, worth RM58.2 million, are based in Malaysia, the group said.

In a statement, the group’s managing director Rosland Othman said the group aims to expand its business outside precast concrete manufacturing and into engineering, manufacturing, construction and commissioning (EMCC), by leveraging and integrating its core business.

“Besides that, we want to become an international player by expanding our market outside of Sarawak, by first extending into Peninsular Malaysia, Indonesia, Oman and Qatar.

“In the coming future, we will be looking for even more synergistic opportunities to strengthen our business footprints across the regions. With our upcoming projects effective now until 2020, this is our first step heading that direction” Rosland said.

Sarawak Consolidated shares closed unchanged at RM1.69 today, for a market capitalisation of RM145.14 million.