KUALA LUMPUR: Kerjaya Prospek Group Bhd
's wholly-owned subsidiary Future Rock Sdn Bhd has secured a RM567.7mil contract for reclamation and dredging works for the Seri Tanjung Pinang (Phase 2B and 2C) development (STP2) at Tanjung Tokong, Penang.
In a statement, the construction group said the works are expected to be completed within 40 months from the commencement date.
Tanjung Pinang Development is an indirect subsidiary company of Eastern & Oriental Bhd, in which major shareholders of Kerjaya Prospek have direct and indirect interests.
According to the group, the contract, awarded by Tanjung Pinang Development Sdn Bhd, was undertaken on an arm’s length basis, based on commercial terms which are not more favourable than those available to the public.
Including this win, Kerjaya Prospek has year-to-date contract wins of RM987.7mil, bringing total outstanding order book value to about RM4.5bil, which the group said will see it through at least the next four years.
"With a robust order book and strong pipeline of projects, we believe Kerjaya is well-positioned for sustained growth and continued success.
"This new contract reaffirms our capabilities to undertake infrastructure jobs of this nature, given our past track record of successfully reclaiming 253 acres of land under STP Phase 1," said CEO and executive director Tee Eng Tiong.
