The Board of Directors of Sarawak Consolidated Industries Berhad (“SCIB”) wishes to announce that SCIB Properties Sdn. Bhd. (“SCIBP”) (hereinafter referred to as “the Vendor”) a wholly-owned subsidiary of SCIB Holdings Sdn. Bhd., which is in turn wholly-owned by SCIB, had on 25 November 2016 entered into a Share Sale Agreement (“SSA”) with KTS Properties & Construction Sdn. Bhd. (“ KTS”) for the proposed divestment of 3,000,000 ordinary shares of RM1 each representing 40% issued and paid up share capital of Influx Meridian Sdn. Bhd. (“IMSB”) to KTS for a total sale consideration of RM5,000,000, to be fully satisfied in cash (“Proposed Divestment”).  Further details of the Proposed Divestment are set out in the PDF file as attached.

This announcement is dated 25 November 2016.