KUALA LUMPUR: Kerjaya Prospek Group Bhd
via its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has bagged two new contracts valued at a combined RM103.6mil for projects on Andaman Island, Penang.
Bother projects were awarded by Persada Mentari Sdn Bhd, an indirect subsidiary company of Eastern & Oriental Bhd (E&O).
As major shareholders in Kerjaya have direct and indirect interests in E&O, it clarified the projects were undertaken on an "arm's length basis" and based on commercial terms that are not more favourable than those generally available to the public.
The first contract, valued at RM33mil, involves piling and earthworks works for a development project. It is scheduled to commence on July 1, 2026 and is expected to be completed within 12 months.
The second contract, valued at RM69.6 mil, involves the construction of 28 units of three-storey terrace houses and 18 units of three-storey semi-detached houses.
Construction is targeted to commence on Aug 1, 2026, and is targeted for completion within 24 months.
"We are pleased to announce another two contract wins for this month, bringing the total to three new wins in May 2026 alone.
"We are excited to be part of the continued development of Andaman Island, Penang, which aims to redefine seafront living. We also look forward to deliver quality construction works that will complement E&O’s long-term vision and exceptional development pipeline,” said Kerjaya CEO and executive director Tee Eng Tiong in a statement.
Kerjaya’s FY26 new contract wins have increased to RM1.1bil, while its total outstanding order book stands at about RM4.4bil.
