Kerjaya wins RM568mil Penang job

KUALA LUMPUR: Kerjaya Prospek Group Bhd’s wholly-owned subsidiary Future Rock Sdn Bhd has accepted a letter of award worth RM567.7mil to execute and complete reclamation and dredging works for Seri Tanjung Pinang (Phase 2B and 2C) development (STP2) at Tanjung Tokong, Penang.

It said in a statement yesterday that the construction works are expected to be completed within 40 months from the commencement date.

The contract, awarded by Tanjung Pinang Development Sdn Bhd, an indirect subsidiary company of Eastern & Oriental Bhd, was undertaken on an arm’s length basis, based on commercial terms which are not more favourable than those available to the public.

The latter is a company in which major shareholders of Kerjaya Prospek have direct and indirect interests. — Bernama