Sarawak Consolidated Industries Bhd
(SCIB), which had recently become a billion ringgit market capitalisation company, is aiming to double its size in the next 12 months.
The construction outfit, which is controlled by Datuk Mohd Karim Abdullah, (pic) is eyeing to take up bigger roles that include bidding for bigger infrastructure projects, embarking on mergers and acquisitions (M&As), as well as becoming project owners.
Karim acknowledged that while the Covid-19 pandemic posed challenges to the construction sector, he is confident SCIB would be able to achieve 20% to 30% revenue and profit growth this year compared with 2020. This will be driven by its strong order book and new technology adoption that will improve its profit margins.
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