PETALING JAYA: Sarawak Consolidated Industries Bhd
(SCIB) has cancelled a financing facility of up to RM49mil with Malaysian Industrial Development Finance Bhd (MIDF) following the strategic divestment of its manufacturing arm.
The move is aimed at strengthening the group’s balance sheet and sharpening its focus on construction and engineering, procurement, construction and commissioning or EPCC activities.
The cancellation relates to term financing-i facilities previously approved under the Soft Financing Scheme for Automation and Modernisation for SCIB Concrete Manufacturing Sdn Bhd, an indirect wholly owned subsidiary.
MIDF has confirmed that the cancellation took effect on Jan 29, 2026, with no drawdown or utilisation made under the facilities and no outstanding obligations.
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