KUALA LUMPUR: Kerjaya Prospek Group Bhd
said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted an award for building works in Batu Kawan, Pulau Pinang, for RM350.62mil.
In the related-party transaction, Kerjaya Prospek secured the contract from Pixel Valley Bhd, which is a wholly-owned subsidiary of Kerjaya Prospek Property Bhd, in which certain directors and major shareholders of the group have direct and indirect interests.
"The acceptance of the contract is in the ordinary course of business of KPM and is undertaken on an arm’s length basis, based on normal commercial terms which are not more favourable than those generally available to the public," it said in filing with the stock exchange.
According to the filing, the contract comprises the development of one block of 44-storey serviced apartments and another block of 37-storey serviced apartments with a combined total of 1,406 units.
The project will also include the construction of one floor of facilities and amenities, an eight-level podium carpark, 15 two-storey shops and offices, a Tenaga Nasional substation and a guardhouse.
The contract shall commence on March 2, 2026, and be completed within 42 months.
Separately, in the third quarter ended Sept 30, 2025, Kerjaya Prospek’s net profit rose to RM57.44mil from RM46.09mil in the previous corresponding period, while revenue grew to RM566.25mil from RM504.84mil a year earlier.
For the nine-month period ended Sept 30, 2025, the company’s net profit improved to RM157.95mil from RM116.73mil in the previous corresponding period, while revenue grew to RM1.58bil from RM1.24bil previously.
The company declared a third interim dividend of 3.0 sen per ordinary share, to be paid on Dec 26.
