General Announcement

23/07/1999

YEAR 2000 (Y2K) DISCLOSURE BY PUBLIC LISTED COMPANIES

SARAWAK CONCRETE INDUSTRIES BERHAD

TypeAnnouncement
SubjectYEAR 2000 (Y2K) DISCLOSURE BY PUBLIC LISTED COMPANIES

Contents :

see table below

1. Details of your company and subsidiaries progress in relation to its activities to address the Y2K issue.

Y2K Ready
X
Internally, we have achieved an acceptable level of readiness whereby we do not anticipate serious disruptions to our business operation. Our main concern is in relation to the third parties Y2K readiness.
Non Y2K Ready (To provide the information listed below)
Description
of Non Y2K
System
Criticality of
system (critical
or not critical)
Status of readiness (at
which stage & percentage of completion)
Estimated
date being
Y2K Ready
Remarks
2. The impact of the Y2K issue if your company and/or subsidiaries fail to be Y2K Ready or are unable to achieve full readiness by the estimated date(s) mentioned above.

No impact
X
(State the reason(s) below)
Yes (State the details of the impact below, particularly on the business,
      financial position and prospects)

      Internally Y2K ready




3. The exposure of your company and/or subsidiaries to third parties who have material business relationships with your company or subsidiaries in relation to the third parties Y2K readiness.

No exposure (State the reason(s) below)
Yes
X
(State the details of the exposure, how material the exposure is
      to your company and/or subsidiaries and the measures taken
      to address the impact of the exposure)

      Our areas of concern is in relation to the third parties Y2K readiness of which we have no direct control :-

      i) Raw materials - could affect smooth supply of raw materials
      ii) Bank - could disrupt accessibility and processing of funds.
      iii) Utilities - breakdown of power, water and telephone supply could hinder production process

      Generally, measures taken are to stock up major raw materials, relevant finished goods, schedule earlier payment for payroll, time payments and deposits to avoid roll-over to the new millennium.

4. The total cost your company and subsidiaries have incurred or is expected to incur to address the Y2K issue.
      Less than RM100,000-00

5. Describe your company and subsidiaries contingency plans in relation to the Y2K issue to ensure continued operations.

No contingency plans (State the reason(s) why contingency plans are not needed)
Yes
X
(State the details of the contingency plans)
      i) To stock up relevant raw materials by year end to ensure uninterrupted availability
      ii) To build up finished goods required by client in early part of next year.



Announcement Info

Company NameSARAWAK CONCRETE INDUSTRIES BERHAD  
Stock Name SCIB
Date Announced23 Jul 1999  
CategoryGeneral Announcement
Reference NoSS-990723-53815