Kerjaya Prospek wins RM61.9mil Batu Kawan development contract

KUALA LUMPUR: Kerjaya Prospek Group Bhd's subsidiary has secured a RM61.9mil contract from Aspec Vision City Sdn Bhd to develop a proposed residential project in Batu Kawan, Penang.

It said in a statement on Monday the project involves building works for the development of two units of 2.5 storey terrace houses, 168 two-storey terrace houses, two Tenaga Nasional Bhd substations, a surau and other supporting utility buildings.

The project is expected to start on Jan 5, 2021, and will take about 24 months to complete.

Including this project, the group has secured contract wins worth RM1.5bil so far this year.

The group's outstanding order book of RM3.5bil will provide earnings visibility for the next few years, it said.

"This project in fact is the second construction contract from Aspen in 2020. Despite the pandemic, I am grateful that Kerjaya is still able to secure new projects and maintain a strong and healthy balance sheet during these trying times.

"Moving forward, we will continue to aggressively tender for new jobs and focus on delivering our projects to sustain earnings for our shareholders," said Kerjaya Prospek executive chairman Datuk Tee Eng Ho.