| Subject | CIRCULAR TO SHAREHOLDERS in relation to the:-
PART A
- PROPOSED BONUS ISSUE OF 22,500,000 NEW ORDINARY SHARES OF RM1.00 EACH TO BE CREDITED AS FULLY PAID TO THE SHAREHOLDERS OF THE COMPANY ON THE BASIS OF FIVE (5) NEW ORDINARY SHARES OF RM1.00 EACH FOR EVERY FOUR (4) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD ON A DATE TO BE DETERMINED;
- PROPOSED RENOUNCEABLE RIGHTS ISSUE OF 18,000,000 NEW ORDINARY SHARES OF RM1.00 EACH TOGETHER WITH 18,000,000 FREE DETACHABLE WARRANTS AT AN ISSUE PRICE OF RM1.00 EACH ON THE BASIS OF ONE (1) NEW ORDINARY SHARE OF RM1.00 EACH TOGETHER WITH ONE (1) FREE DETACHABLE WARRANT FOR EVERY ONE (1) EXISTING ORDINARY SHARE OF RM1.00 EACH HELD ON A DATE TO BE DETERMINED;
- PROPOSED ACQUISITION OF APPROXIMATELY 43 HECTARES OF MIXED ZONE LAND APPROVED FOR DEVELOPMENT LOCATED AT KUCHING, SARAWAK 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 IN SCIB AT AN ISSUE PRICE OF RM1.46 PER ORDINARY SHARE OF RM1.00 EACH ("PROPOSED ACQUISITION");
- PROPOSED EMPLOYEES' SHARE OPTION SCHEME OF UP TO TEN PERCENT (10%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF THE COMPANY; AND
- PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL OF SCIB FROM RM25,000,000 COMPRISING 25,000,000 ORDINARY SHARES OF RM1.00 EACH TO RM100,000,000 COMPRISING 100,000,000 ORDINARY SHARES OF RM1.00 EACH |