KUCHING: SCIB Properties Sdn Bhd (SCIBP), an indirect subsidiary of Sarawak Consolidated Industries Bhd (SCIB), has terminated a RM30.75 million contract for an integrated smart lamp pole replacement project in Kuala Lumpur.
The contract, awarded by Ennova Sdn Bhd on June 7, 2022, covered engineering, procurement, construction, and commissioning (EPCC) works for 200 smart lamp poles across the Klang Valley under DBKL’s initiative.
SCIBP issued a termination notice on March 21, 2025, citing Ennova’s failure to settle an outstanding RM195,617 despite repeated demands.
The amount relates to works completed and acknowledged by Ennova on September 5, 2023, with a progress claim submitted on October 6 and due for payment by January 4, 2024.
In a filing with Bursa Malaysia, SCIB said the termination takes immediate effect as the non-payment amounts to a repudiatory breach.
Legal proceedings have been initiated, and the company will make further announcements if there are material developments.
The sum owed has already been impaired in the previous financial year, and the termination is not expected to affect SCIB’s earnings, gearing, or net assets for the financial year ending June 30, 2025.
Meanwhile, in a separate development, Sarawak Cable Bhd (SCB) has applied for more time to submit its regularisation plan.
Classified as a PN17 company since September 30, 2022, SCB’s latest extension from Bursa Malaysia expires on March 31, 2025.
The company said it is still working on the plan, with its affairs currently managed by an interim judicial manager appointed by the High Court of Malaya.
