Kerjaya Prospek wins RM265mil construction job in Penang


PETALING JAYA: Construction outfit Kerjaya Prospek Group Bhd has secured a RM265mil contract from Eastern & Oriental Bhd to undertake the main building works for a proposed development project in Penang.

In a statement yesterday, Kerjaya Prospek said its wholly-owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, has secured the project from E&O’s indirect subsidiary Persada Mentari Sdn Bhd.

“The project comprises two apartment blocks housing a total of 1,020 units, a basement carpark, a four-storey car park and two- storeys of commercial units.

“The project is expected to be completed within 32 months from its commencement date of July 1, 2022,” Kerjaya Prospek said.

The company said the contract was secured after the group was awarded its second contract for the year worth RM197.5mil by its wholly-owned subsidiary Yakin Land Sdn Bhd in March 2022.

Under the contract, Kerjaya Prospek said it would be undertaking the main building works for two apartment blocks housing 454 residential units, on top of four levels of car park and residential facilities, as well as a two-storey basement parking.

“This development is scheduled to be completed within 36 months from May 1, 2022,” it said.

Along with the recently secured RM710.1mil contract for the development of Astrum Ampang, Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong said the group has bagged three contracts in 2022 and approaching the company’s RM1.2bil target for this year .

“Being able to achieve this feat despite only being four months into 2022 speaks volume of our competitiveness in the market and our abilities as a leading building contractor in Malaysia,” he said in the statement.

Together with the new contracts, Tee said Kerjaya Prospek’s outstanding order book is bolstered to RM4.4bil, which will provide the group with earning visibility for the next five years.

“We will continue to tender for new projects by leveraging on our competitive strengths to enhance our shareholders’ returns and take the group to the next growth phase,” he said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Business News

Going gets tough for Malaysia ahead of 2023
Asia’s inflation still moderate
Steady residential sector
Bermaz rides on buoyant car sales
Headline inflation for August hits 4.7% year-on-year
Steel makers fear deepening crisis
Prospects for Covid-19 vaccine companies diminish
Short position: Glove makers, MREITs
No intervention likely to actively boost ringgit
Islamic fintech growing fast in the country

Others Also Read