KUALA LUMPUR: Sarawak Consolidated Industries Bhd's (SCIB) subsidiary, SCIB Properties Sdn Bhd, has bagged a RM162 million contract from Awana JV Suria Saha Sdn Bhd for development works under the Programme Perumahan Penjawat Awam (PPAM) in Perak.
The development will span about 48.56 hectares across multiple lots and is scheduled to be completed over a 23-month period.
It involves the construction of affordable housing and commercial units in two phases.
According to a statement, Phase 1A will consist of 346 single-storey affordable terrace houses and 28 two-storey shop offices.
Phase 1B will feature 455 double-storey affordable terrace houses.
SCIB managing director Ku Chong Hong said that the contract not only enhances the company's portfolio but also underscores its commitment to contributing to Malaysia's affordable housing sector.
"We are confident in our ability to deliver quality living spaces that meet the desired standards of construction and environmental sustainability.
"Our recent projects and strategic partnerships continue to drive our confidence in maintaining profitability and achieving long-term growth," he added.
SCIB's share price closed at 29 sen today, with a market capitalisation of RM191 million.