KUCHING, 6 JANUARY 2026 – Sarawak Consolidated Industries Berhad (“SCIB” or the “Company”) has signed a development agreement to jointly undertake a residential-cum-commercial project in Bintulu, Sarawak, marking a step in the Group’s expansion into property development. The project will be carried out through SCIB’s wholly-owned subsidiary, SCIB Development Sdn. Bhd. (“SCIB Development”), in collaboration with the registered landowners of Lot 88, Kemena Land District, a vacant land parcel measuring approximately 11.1 hectares at Sungai Sibiau, Bintulu.
Subject to regulatory approvals, the land is planned to be developed into a mixed-use estate comprising residential and commercial components. Development is expected to be implemented in three phases, beginning with residential units, followed by commercial development in the later stage. Under the agreement, SCIB Development will act as the project developer and will oversee the planning, approvals and execution of the development works. The landowners will be entitled to 23% of the project’s gross development value, based on mutually agreed terms. As the project remains at an early planning stage, SCIB said the overall development value and financial contribution have yet to be determined.
Datuk Chong Loong Men, Executive Chairman of SCIB, said the agreement aligns with the Group’s longer-term strategy to broaden its business base. “This project allows us to extend our footprint into property development while building on our established engineering and construction capabilities. Bintulu remains a strategic location, and we believe this collaboration positions the Group for sustainable growth over the medium to long term,” he said.
SCIB added that the project forms part of its broader efforts to build a more diversified and resilient business platform, combining its construction expertise with selective property development opportunities.
As planning progresses and key milestones are achieved, the Group expects the development to contribute meaningfully to its long-term growth strategy while creating value for the local community in Bintulu.
