SCIB-Rights Issue with Warrant and Acquisition

LISTING'S CIRCULAR NO. L/Q : 21698 OF 2003

(i) Renounceable Rights Issue of 18,000,000 new ordinary shares of RM1.00 each ("Rights Shares") together with 18,000,000 free detachable warrants ("Warrants") on the basis of one (1) new share and one (1) free Warrant for every one (1) existing share held at an issue price of RM1.00 per Rights Share ["Rights Issue with Warrants"]

(ii) Acquisition of mixed zone land approved for development located at Kuching, Sarawak ("Oricon Land") from Oricon Sdn. Bhd. for a purchase consideration of RM18,500,000 to be satisfied by way of RM4,480,000 in cash and the balance of RM14,020,000 via the issuance of 9,602,000 (fractional shares have been disregarded) new ordinary shares of RM1.00 each ("Acquisition Shares") at an issue price of RM1.46 per ordinary share of RM1.00 each ("Acquisition ')

Please be advised of the following:-

(i) SCIB's additional:

(a) 18,000,000 Rights Shares issued pursuant to the Rights Issue with Warrants; and

(b) 9,602,000 Acquisition Shares issued pursuant to the Acquisition

will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 24 December 2003.


(ii) SCIB's 18,000,000 Warrants issued pursuant to the Rights Issue with Warrants will be
admitted to the Official List of the Exchange and the listing and quotation of these Warrants on the Second Board under the "Loans" sector, will be granted with effect from 9.00 a.m., Wednesday, 24 December 2003, on a "Ready" basis pursuant to the Rules of the Exchange.

The Stock Short Name, ISIN Code and Stock Number of the Warrants are "SCIB-WA", "MYL9237WAKC3" and "9237WA" respectively.

At the close of the business on the expiry date (10 December 2010), any warrant which has not been exercised, will lapse and every warrant will cease thereafter to be valid for any purpose whatsoever. The exercise price will be RM1.00, on the basis of one (1) new ordinary share of RM1.00 each for each Warrant.

Kindly also be advised that the Warrants of SCIB are prescribed securities. Dealings in the Warrants of SCIB should be carried out in accordance with the Securities Industry (Central Depositories) Act, 1991 and the Rules of Malaysian Central Depository Sdn Bhd.

Kindly also be reminded that only "free securities" can be utilised for settlement of trades involving the aforesaid Warrants of SCIB.