SCIB provides up to RM11mil for impairment
SCIB, which owns an IBS plant in Kuching, was using the acquisition of Carlton Gardens as a platform to expand to Sabah and to penetrate the latter’s residential sector of IBS supply and installation market where the government’s affordable housing programme offers significant opportunities.
KUCHING: Sarawak Consolidated Industries Bhd 
(SCIB) is expected to provide up to RM11mil for impairment of its investment in Sabah-based Carlton Gardens Sdn Bhd, which it has acquired.
Carlton Gardens owns an industrialised building system (IBS) factory in Beaufort district. The company became a wholly-owned subsidiary of SCIB following the completion of the acquisition in July 2017.
The additional provision came after Carlton Gardens appointed Wong Ching Yong as its interim liquidator as it “cannot by reasons of its liabilities continues its business.”
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