KUCHING, January 3 – Sarawak Consolidated Industries Berhad (“SCIB”) has announced that its subsidiary, SCIB Properties Sdn. Bhd. (“SCIBP”), has entered into a Memorandum of Understanding (“MOU”) with Kemena City Development Sdn. Bhd. (“KCD”) and Smart Borneo Properties Sdn. Bhd. (“SBP”). This MOU signifies the preliminary stage for a potential joint venture focusing on a substantial residential development project in the Kemena Land District, Bintulu, Sarawak, with a projected value of RM250 million.
The MOU initiates a detailed exploration and assessment of the joint venture’s feasibility, envisioning the development of approximately 50 acres of land into around 600 residential units. SCIB, leveraging its expertise in industrialized building systems, collaborates with the real estate development experience of KCD and SBP, setting the foundation for a strategic collaboration that could significantly impact Sarawak’s residential housing market.
Mr. Ku Chong Hong, Group Managing Director of SCIB, expressed gratitude for the dedication of Abang Abdillah Izzarim Bin Tan Sri Datuk Patinggi Abang Haji Abdul Rahman Johari, emphasizing the commitment to exploring the opportunity with KCD and SBP. Abang Abdillah Izzarim Bin Tan Sri Datuk Patinggi Abang Haji Abdul Rahman Johari, reflecting on his tenure, expressed excitement about transitioning into a long-term relationship with SCIB.
