KUALA LUMPUR: Sarawak Consolidated Industries Bhd's (SCIB) unit, SCIB Industrialised Building System Sdn Bhd (SIBS), has secured a revised contract worth RM162 million for the Perumahan Rakyat 1 Malaysia (PR1MA) Fasa 1 project in Kubang Kerian, Kota Bahru, Kelantan.
The contract, secured from AUEI Teras Holding Sdn Bhd, follows the EPCC contract initially awarded to SCIB Properties Sdn Bhd in May 2021.
This revised agreement entrusts SIBS as the main contractor for the PR1MA housing project.
It aims to deliver 632 residential units within a 36-month construction period, followed by a 24-month defect liability period, the company said in a statement.
SCIB group managing director Ku Chong Hong said this revised contract not only strengthens the company's position in the construction sector but also reflects its dedication to contributing to Malaysia's affordable housing landscape.
"We are honoured to be part of a project that resonates with our values of delivering high- quality living spaces while adhering to the highest standards of construction and environmental sustainability.
"SCIB looks forward to a successful collaboration with AUEI and PR1MA, driving the PR1MA housing project towards timely completion and setting new benchmarks in the affordable housing segment," he added.
SCIB's share price was down 2.99 per cent to 32.5 sen a share, at market close.