Kerjaya Prospek to build Eco World’s condominium in Penang

Visitors at Eco Terraces in Paya Terubong for its EcoFestival 2016. Pix by Gary Chen/The Star/29 May 2016.

KUALA LUMPUR: Kerjaya Prospek Group Bhd has clinched a RM146.7mil contract for the main building works for Eco World Development Group Bhd’s 34-storey condominium project in Penang, Eco Terraces.

In a filing with Bursa Malaysia on Monday, the construction contractor said its unit Kerjaya Prospek (M) Sdn Bhd (KPSB) had accepted a letter of award from Eco World’s subsidiary Eco Terraces Development Sdn Bhd on the 333-unit block in Paya Terubong.

It said the construction works would begin on Sept 19 and the project was due to be completed by Feb 18, 2019.

In a press statement, Kerjaya executive chairman Datuk Tee Eng Ho said this latest contract had raised the value of its year-to-date contract wins to RM1.58bil, surpassing its internal order book replenishment target.

“This is a fantastic achievement and I would like to thank the team for working tirelessly and Eco World for their confidence in our abilities as a specialist in premium high rise projects,” he said.

Kerjaya Prospek said the contract would have no effect on the issued and paid-up capital of the company, but it was expected to contribute positively to the group’s earnings and net assets per share for the financial years ending Dec 31, 2016 to 2019.

Its shares rose 3 sen to close at RM2.39 on Monday, with 581,400 shares changing hands.