KUALA LUMPUR: Kerjaya Prospek Group Bhd
's wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a contract from Persada Mentari Sdn Bhd for the construction of project at Bandar Tanjung Pinang in Andaman Island,
northeast Penang Island district, for RM98.09mil.
The contract is deemed a related party transaction by virtue that Persada Mentari is a subsidiary of Eastern & Oriental Bhd, which shares certain directors and major shareholders with Kerjaya Prospek.
In a filing with Bursa Malaysia, the group said the contract entails two phases of building work. Phase 1 comprises 22 three-storey terrace houses and eight three-storey semi-detached houses, while Phase 2 comprises 28 three-storey terrace houses and 18 three-storey semi-detached houses.
The contract shall commence on April 22, and be completed within 24 months.
