Kerjaya Prospek wins RM22.6m piling works contract from Low Yat

  • Corporate News
  • Wednesday, 02 Oct 2019

KUALA LUMPUR: Kerjaya Prospek Bhd's unit Kerjaya Prospek (M) Sdn Bhd will undertake piling and construction works for a proposed hotel development in George Town, Penang, for a contract sum of RM22.6mil.

The contract from Bintang Holdings Sdn Bhd, a subsidiary of Low Yat Group, is scheduled to be completed within 15 months of its commencement date on Oct 15, 2019.

It entails piling works and construction of the basement for a proposed 23-storey hotel development consisting of a 17-storey hotel and a two-storey basement carpark, among others.

Year-to date, Kerjaya's contract wins have risen to RM1.3bil, having met its internal target of RM1.2bil order wins by August, it said in a statement.

Including this contract, Kerjaya's outstanding order book has grown to about RM3.4bil and provide earnings visibility for the next three years.

According to Datuk Tee Eng Ho, executive chairman of Kerjaya, the project, which is the fourth contract award by the Low Yat Group, exhibits confidence in Kerjaya's overall strength as an integrated construction player.

"This latest contract further demonstrates Kerjaya’s strong capabilities and the faith our clients have in us. We are positive that we will see more growth going forward," he added.

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