Kerjaya Prospek’s order book at RM3.4b with fresh contract from E&O subsidiary

KUALA LUMPUR: Kerjaya Prospek Group Bhd’s total outstanding order book increased to RM3.40bil after its unit secured a RM139mil contract from Damansara Peak Sdn Bhd.

In a statement on Friday, its unit Kerjaya Prospek (M) Sdn Bhd accepted the letter of award from Damansara Peak, an indirect subsidiary of Eastern & Oriental Bhd.

“This is the fourth contract secured by Kerjaya for the year, bringing the year-to-date contract wins to RM523.50mil,” it said.

Kerjaya said the award involves the construction and completion of substructure works, main building works and all associated external works for a proposed 54 units three-storey villa in Damansara Heights here.

Work is expected to start on Sept 1 and it will take 36 months to complete.

“The contract is expected to contribute positively to the group’s earnings and net assets per share from 2021 to 2024,” it said.

Kerjaya chairman Datuk Tee Eng Ho said: “We are delighted to secure another contract from E&O this year where all the contracts are undertaken at arm’s length basis based on normal commercial terms.

“This contract is expected to provide an additional stream of revenue for Kerjaya over the next three years and will further enhance our outstanding order book.”

Tee said due to the current pandemic and implementation of various movement control orders, the tendering process of some projects have been affected.

However, he was optimistic that the quick roll out of vaccines will help the economy to recover gradually and the company we will have more projects coming in.

“Moving forward, we will continue to aggressively tender for good quality projects that can deliver value to our shareholders while focus on delivering the jobs in hand,” he said.

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