Kerjaya Prospek and Samsung C&T in business tie-up


In a joint statement, it said under the agreement, both parties shall jointly pursue construction contracts exceeding RM300mil. (File pic shows Kerjaya Prospek's Straits Residences.)

KUALA LUMPUR: Kerjaya Prospek Group Bhd’s wholly-owned subsidiary, Kerjaya Prospek (M) Sdn Bhd has signed a framework agreement with Samsung C&T (KL) Sdn Bhd, a wholly-owned subsidiary of Samsung C&T Corp (Engineering & Construction Group).

In a joint statement, it said under the agreement, both parties shall jointly pursue construction contracts exceeding RM300mil.

In an effort to align long-term interest, Samsung will subscribe to Kerjaya’s proposed private placement of 25.2 million new shares (2.04% of Kerjaya’s existing issued share capital) at RM1.60 per share, via their wholly-owned subsidiary Vista Contracting & Investment Global Pte Ltd.

Kerjaya will raise RM40.4mil, through the private placement.

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