BUSINESS

SCIB, BINTAI KINDEN INK MOU TO EXPLORE JOINT BUSINESS OPPORTUNITIES

07/02/2023 07:29 PM

KUALA LUMPUR, Feb 7 (Bernama) -- Civil engineering specialist Sarawak Consolidated Industries Bhd (SCIB) has signed a memorandum of understanding (MoU) with Bintai Kinden Corporation Bhd (Bintai Kinden) to establish a strategic alliance for exploring business opportunities, securing of new projects and sharing of profits. 

In a joint statement today, SCIB said the MoU was a preliminary step for both companies to explore a working relationship and cooperation to combine skills, expertise, capabilities, and experiences to collectively bid for projects in Malaysia as well as to set out the principal terms of their arrangement.

Under the deal signed yesterday, the joint-venture (JV) vehicle to be used will be SCIB’s wholly-owned unit, SCIB Infraworks Sdn Bhd, in which SCIB will retain a 51 per cent stake while Bintai Kinden would subscribe to the remaining 49 per cent. 

SCIB group managing director Rosland Othman said the company welcomed this strategic partnership with Bintai Kinden as both companies can leverage each other’s strengths and expertise to add value to any joint projects. 

“Our focus on small-to-mid-sized construction healthcare, educational and utility facilities as well as rural infrastructure projects together with investment in technology such as 3D printing and automation are also strengths that we can leverage for the future JV projects,” he said.

Meanwhile, Bintai Kinden executive director Azri Azerai said the company looked forward to a fruitful partnership with SCIB as the two companies seek opportunities across the country.

“We design, instal and commission systems that include the full range of engineering services which we believe can complement the JV,” he said.

-- BERNAMA

 

 


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