Quick take: Kerjaya Prospek shares up on new contract

KUALA LUMPUR: Shares in Kerjaya Prospek Group Bhd rose in early trade Thursday after the group announced its latest RM64mil contract win.

The counter added 4.89%, or 4.5 sen to 96.5 sen. It is trading at a PE ratio of 11.27 times. Year-to-date it has fallen some 25%.

Kerjaya has secured an RM64mil contract to build a sewerage plant for the Seri Tanjung Pinang (Phase 2A) development (STP2) in Penang from Tanjung Pinang Development Sdn Bhd.

This award brings Kerjaya’s total contracts secured for 2020 to RM1.4bil, putting Kerjaya within striking distance of its internal target of RM1.5bil for the year.

Kerjaya said the contract is for the execution and completion of a sewerage treatment plant and all associated works on plot 20 and infrastructure works on a sewerage reticulation system and roadside surface water drainage for the proposed STP2.

All the works stipulated in this contract will commence on Oct 21 and to be completed within twenty-four months from the commencement date.

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