<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 18): Shares in Sarawak Consolidated Industries Bhd (SCIB) were up by as much as 13.86% today, after the group announced a 170% rise in its first quarter ended March 31, 2020 (1QFY20) net profit and a dividend policy of at least 30% of profit per financial year.</p></div>

<div class=newsTextDataWrapInner><p>At 10:28am, SCIB shares were still up, trading 5.45% or 11 sen higher at RM2.13 apiece, valuing the company at some RM261.02 million.</p></div>

<div class=newsTextDataWrapInner><p>In terms of volume, the counter saw some 3.06 million shares traded, higher than its 200-day average trading volume of 456,836 shares.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>SCIB reached an intra-morning high of RM2.30 a mere two minutes after the opening bell was sounded at the local bourse today, but slipped to a low of RM2.11 by mid-morning.</p></div>

<div class=newsTextDataWrapInner><p>The group’s 1QFY20 net profit increased 170% to RM4.28 million from RM1.59 million last year due to higher revenue, which swelled by 198% year-on-year to RM51.78 million from RM17.44 million.</p></div>

<div class=newsTextDataWrapInner><p>The higher revenue was pinned to construction contract revenue generated both locally and abroad.</p></div>

<div class=newsTextDataWrapInner><p>SCIB's new dividend policy will exclude any unrealised income from adjustments due to accounting policies that are non-cash in nature.</p></div>


Shares in Sarawak Consolidated Industries Bhd (SCIB) were up by as much as 13.86% today, after the group announced a 170% rise in its first quarter ended March 31, 2020 (1QFY20) net profit and a dividend policy of at least 30% of profit per financial year.

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