KUCHING, July 24 – Sarawak Consolidated Industries Berhad (SCIB), a civil engineering specialist, has announced a discrepancy between its record of depositors (ROD) and the register of substantial shareholders regarding Dato’ Dr. Ir. Ts. Mohd Abdul Karim bin Abdullah (“Dato’ Karim”), who has been previously reported as the company’s single largest shareholder with a 21.81% stake. According to SCIB, Dato’ Karim does not appear as a shareholder based on the ROD as of 21 June 2023, nor does he appear on the list of the company’s top 30 shareholders.
SCIB’s Company Secretary has reached out to Dato’ Karim to address the discrepancy and requested confirmation and information regarding the status of his shares. However, the company has not received any updates from him. It is the responsibility of shareholders, as stated by the Companies Act 2016, to inform the company and/or the Registrar of any changes or cessation of shareholding as a substantial shareholder, as well as any dealings in shares.
SCIB’s obligations are limited to making entries in the register of substantial shareholders upon receiving the required notices from the substantial shareholder and making the necessary announcement to Bursa Malaysia Securities Berhad in compliance with the Main Market listing requirements. Unless SCIB receives a notice from Dato’ Karim, there is no requirement for the company to make any entry in its register of substantial shareholders.
According to the Companies Act, SCIB is not deemed to have notice of, or be required to inquire about, Dato’ Karim’s rights in relation to his shares in the company. As a result, SCIB is not obligated to disclose any information or rectify the discrepancy on behalf of the individual based on the information in the ROD. SCIB urges Dato’ Karim to determine the status of his shareholding and provide the necessary updates to the company as per the requirements set forth by the Companies Act. The company will continue to monitor the situation and make appropriate disclosures if and when required.
