KUALA LUMPUR: Industrialised building systems specialist Sarawak Consolidated Industries Bhd's (SCIB) shareholders have approved all 12 resolutions tabled at its 48th annual general meeting (AGM) held virtually today.
SCIB said the AGM saw strong shareholder engagement and participation, demonstrating confidence in the company's strategic direction in ensuring transparency and governance are well in place.
Among the key resolutions passed were the reelection of directors retiring in accordance with the company's constitution.
Ooi Hoot Kuang and Ng Cheng Shin were elected as new directors following shareholder approval, while auditors were reappointed.
According to SCIB's filing with Bursa Malaysia, Ooi, 49, has a 26-year experience in the building materials industry.
Over time, he has expanded his expertise and diversified into the primary field of housing development.
Ng, 52, has accounting professional qualifications from Malaysia Institute of Accountant (MIA) and Chartered Institute of Management Accountants (CIMA), UK.
He has more than 25 years professional and commercial working experience in auditing, accounting, management accounting and taxation in various sectors such as auditing, construction, manufacturing education as well as hospitality industry.
The shareholders also approved the payment of directors' fees and benefits amounting to RM700,000.
SCIB group managing director Ku Chong Hong said the approval of all resolutions provides the mandate to further strengthen its financial position and operational capabilities.
"As we continue to execute our strategic plans, this confidence from our shareholders will inspire us to achieve sustainable growth and create long-term value," he said in a statement after the AGM.
SCIB's share price ended half a sen or two per cent lower at 24 sen with a RM158 million market capitalisation.