SCIB and Bintai Kinden in Strategic Alliance
KUALA LUMPUR, Feb 7, 2023 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company had on 6 February 2023 signed a Memorandum of Understanding (MoU) with Bintai Kinden Corporation Berhad to establish a strategic alliance for exploring of business opportunities, securing of new projects and sharing of profits.Group Managing Director of SCIB, Encik Rosland bin OthmanExecutive Director of SCIB, Mr. Ku Chong HongExecutive Director of Bintai Kinden, En. Azri AzeraiThe MoU is a preliminary step the parties are taking as they explore a working relationship and cooperation to combine skills, expertise, capabilities, experience and collectively bid for projects in Malaysia and to set out the principal terms of the arrangement between the parties.The JV vehicle to be used is SCIB's wholly-owned subsidiary, SCIB Infraworks Sdn. Bhd in which SCIB will retain a 51% stake in the JV while Bintai Kinden will subscribe to the remaining 49%. Bintai Kinden is a mechanical and electrical ("M&E") engineering services specialist listed on the Main Market of Bursa Malaysia, with unique combination of extensive reg...
