PETALING JAYA: Kerjaya Prospek Group Bhd
, via its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd, has secured a RM223mil contract from Sunway Majestic Sdn Bhd for the construction and completion of main building works for a proposed small office/home office (Soho) development in Johor Baru, Johor.
In a statement, the construction outfit said the project comprises 1,012 Soho units across two 34-storey buildings, alongside a 10-level podium car park, and two levels of mezzanine commercial space, among others. Construction, scheduled to commence on Sept 1, 2026, is targeted for completion within 32 months.
Commenting on the latest win, Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong said the contract win will allow the group to further expand its presence in the southern region, particularly in Johor Baru City Centre – which he said is poised to benefit from the upcoming Rapid Transit System (RTS) link.
“We are grateful for Sunway Majestic’s trust and confidence in Kerjaya Prospek, and we look forward to contributing our construction expertise and capabilities to the successful delivery of this development.
“Notably, this marks our third new contract win in Johor Baru since 2025, reflecting our ability to capture opportunities in this strategic growth corridor.”
Tee said the group’s year-to-date financial year 2026 new contract wins have reached RM2.4bil, well above its initial target of RM2bil for the year.
“Together with our total outstanding order book of RM5bil, this provides us with strong earnings visibility over the coming years,” he said.
Meanwhile, an analyst said he is positive on Kerjaya Prospek’s latest contract win.
“The near-term outlook for Kerjaya Prospek looks positive, with the RM223mil Sunway Majestic contract strengthening an already sizable order book and giving the group further earnings visibility.”
Going forward, he said Malaysia’s construction sector is expected to maintain its positive momentum in the remaining months of 2026, supported by sustained private-sector investment in data centres, industrial and commercial developments.
“Johor, in particular, is likely to remain a key growth area, while major infrastructure projects such as the East Coast Rail Link, RTS Link and Penang LRT should provide longer-term support.”
For its first quarter ended March 31, 2026, Kerjaya Prospek posted a 24.5% increase in net profit to RM57.3mil from RM46mil in the previous corresponding quarter, despite revenue declining 5.3% to RM446.8mil from RM472mil previously.
The company attributed the lower revenue mainly to slower progress in construction activities during the quarter.
Its construction segment remained the largest revenue contributor, posting revenue of RM478.7mil, down 11% from RM537.2mil previously due to slower construction progress.
Despite the decline in revenue, segment profit improved to RM55.8mil from RM51.95mil a year ago.
Meanwhile, the property development segment registered higher revenue of RM68mil compared with RM49.1mil previously.
This was driven by contributions from two of its property developments – The Vue @ Monterez and Papyrus @ North Kiara.
