SCIB exercises option to sell Kuching industrial land to SCM for RM24m

Sarawak Consolidated Industries Bhd (SCIB) has exercised its option to sell two industrial land parcels in Kuching to SCIB Concrete Manufacturing Sdn Bhd (SCM) for a pre-agreed RM24 million. The sale, formalised via a Bursa Malaysia filing on 29 Oct 2026, covers Lot 1166 and Lot 1541 at Demak Laut I

PETALING JAYA (Oct 30): Sarawak Consolidated Industries Bhd (SCIB) has exercised its option to sell two parcels of industrial land in Kuching to SCIB Concrete Manufacturing Sdn Bhd (SCM) at a pre-agreed price of RM24 million, subject to deductions for rental payments and related service tax.

In a Bursa Malaysia filing on Thursday (Oct 29), SCIB said it had delivered a sale exercise notice to SCM and signed a land sale and purchase agreement for Lot 1166 and Lot 1541 on the same day. The purchase price will be reduced by the total rental sums and service tax on those sums paid by SCM to SCIB from the date of the tenancy agreement, July 1, 2025. The adjustment will be determined in due course.

According to SCIB’s April 16 circular to shareholders, both parcels are in Demak Laut Industrial Park, within Block 8, Muara Tebas Land District, Kuching, Sarawak. They cover approximately 5.297 hectares, or 13.09 acres. Lot 1166 measures approximately 4.047 hectares, or 10 acres, and carries a pre-agreed price of RM18 million. Lot 1541 spans approximately 1.25 hectares, or 3.09 acres, with a pre-agreed price of RM6 million.

The sites accommodate SCM’s manufacturing operations, including precast panels, pipe and i-beam facilities. The circular states that SCM constructed and owns the buildings, while SCIB owns the underlying land. The combined monthly rental is RM22,000, with rental payments treated as forming part of the pre-agreed purchase price.

SCIB said it would make further announcements when there are material developments.