PETALING JAYA: Kerjaya Prospek Group Bhd
is expected to deliver a stronger earnings performance in the final quarter of the financial year 2022 (4Q22) as it makes higher work progress and is aided by declining construction material prices.
There is also anticipation of further job wins for the construction group after it secured RM1.57bil worth of contracts since the beginning of the year, which slightly surpassed its financial year 2022 (FY22) new job target, said Kenanga Research.
Kerjaya’s tight labour situation has eased with the arrival of 400 to 500 new workers (total guided for 750 by the year’s end).
The research firm anticipates that construction work will pick up in the second half of the year, supported by Kerjaya’s RM4.2bil order book.
Kenanga Research is targeting a flat replenishment of RM1.5bil of job wins in FY23 for reclamation and building jobs, and further semiconductor and data centre construction jobs with its partner Samsung.
The company also has two property development projects in its pipeline, namely Monterez, which has a gross development value (GDV) of RM250mil and had a soft launch in June 2022, and Yakin Land, which has a GDV of RM380mil, and will be launched in the first half of FY23. Foundation work has begun for both projects.
TA Research said after stripping out an exceptional net loss amounting to RM2.4mil, Kerjaya’s core profit for the first nine months of 2022 was RM88.6mil.
