Yong Tai Bhd's The Apple and the Courtyard By Marriott mixed development project is scheduled for completion in 2017.
PETALING JAYA: Kerjaya Prospek (M) Sdn Bhd (KPSB), a unit of Kerjaya Prospek Group Bhd
, has accepted a letter of award from Apple 99 Development Sdn Bhd to undertake work for The Apple and Courtyard by Marriott development project in Malacca for RM213.75mil.
In a filing with the stock exchange, the construction and property development company said the contract was for the project’s main building works involving, among others, a 16-storey hotel building with 284 rooms known as Courtyard by Marriott, a 32-storey service suite building with 361 units of service apartments, and an eight-storey podium of car parks.
This is a joint-venture project between garment manufacturer-cum-property developer Yong Tai Bhd and Apple 99, according to the group.
The construction work, which will be undertaken by KPSB, is expected to start on Aug 1, 2016 and is slated for completion on Oct 31, 2018.
While the contract will not have any impact on the issued and paid-up capital of the group, it would enhance its existing order book and contribute positively to the earnings and net assets per share for the financial years ending 2016 (FY16) to FY18.
Additionally, the group has also declared a single-tier interim dividend of four sen per share for FY16 ending Dec 31.
“We are delighted to share that we have surpassed our internal target, as our year-to-date project wins now total RM1.09bil.
“We have also declared a single-tier interim dividend of four sen per share to reward our shareholders,” said Kerjaya’s executive chairman Datuk Tee Eng Ho in a separate release to the exchange.
None of the directors and/or major shareholders of the company have direct or indirect interest in the contract, said Kerjaya.
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