Sarawak Consolidated Industries Berhad announced that the Company had on 6 February 2023 signed a Memorandum of Understanding (MoU) with Bintai Kinden Corporation Berhad to establish a strategic alliance for exploring of business opportunities, securing of new projects and sharing of profits. The MoU is a preliminary step the parties are taking as they explore a working relationship and cooperation to combine skills, expertise, capabilities, experience and collectively bid for projects in Malaysia and to set out the principal terms of the arrangement between the parties. The JV vehicle to be used is SCIB's wholly-owned subsidiary, SCIB Infraworks Sdn.

Bhd in which SCIB will retain a 51% stake in the JV while Bintai Kinden will subscribe to the remaining 49%. Bintai Kinden is a mechanical and electrical (M&E) engineering services specialist listed on the Main Market of Bursa Malaysia, with unique combination of extensive regional experience and local knowledge.