Settlement Agreement Entered Between SCIB Properties Sdn Bhd, A Wholly-Owned Subsidiary Of SCIB And Awana Jv Suria Saga Sdn. Bhd.

Reference is made to the previous announcements made by Sarawak Consolidated Industries Berhad (“SCIB” or “the Company”) on 15 March 2021 and 22 September 2021 in relation to Engineering, Procurement, Construction and Commissioning (“EPCC”) contract awarded to its wholly owned subsidiary company, SCIB Properties Sdn. Bhd. (Registration No.: 200101019135 (554892-V)) (“SCIBP”). 

The Board of Directors of SCIB wishes to announce that SCIBP had on 6 July 2023 signed the Settlement Agreement with the above Client (referred to as “Party”), to mutually terminate the Contract as listed above, confirm the obligation on the full and final settlement of debts and establish the term and payment schedule for the amount owing between the Party.

The full details of the announcement are set out in the attachment below.

This announcement is dated 6 July 2023.

Please refer attachment below.

Announcement Info

Attachments

1. SCIB_Settlement_Agreement_Awana_Project_Bursa.pdf (Size: 160,796 bytes)