Two SCIB shareholders nominate directors for upcoming AGM

• Among the resolutions to be tabled is the re-election of its six directors: Ku Chong Hong, Dang Nguk Ling, Datuk Seri Zaini Jass, Datuk Tan Bok Koon, Yak Boon Tiong, and Chiew Jong Wei.

KUALA LUMPUR (Dec 10): Two shareholders of Sarawak Consolidated Industries Bhd (KL:SCIB), Wong Wai Pheng and Yeoh Guan Fook, have issued a notice of intention to SCIB to appoint two new directors to the board.

The two nominees are Ng Cheng Shin and Ooi Hoot Kuang, according to the precast concrete product maker's circular filed with Bursa Malaysia on Monday. It did not reveal what their shareholdings are. Based on SCIB's latest annual report, Yeoh owns a 0.47% stake.

The group's upcoming annual general meeting (AGM) is scheduled to be held on Dec 19. Among the resolutions to be tabled is the re-election of its six directors: Ku Chong Hong, Dang Nguk Ling, Datuk Seri Zaini Jass, Datuk Tan Bok Koon, Yak Boon Tiong, and Chiew Jong Wei.

The group is also seeking to reappoint Messrs Kreston John & Gan as its auditors, to hold office until the conclusion of the next AGM.

For the first quarter ended Sept 30, 2024, SCIB posted a net loss of RM1.15 million, compared with a net profit of RM926,000 in the same period a year earlier, primarily due to unrealised foreign exchange losses.

Quarterly revenue was up 14.57% at RM45.15 million compared with RM39.4 million previously, due to the increased recognition of construction works from ongoing projects.

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