KUALA LUMPUR: Kerjaya Prospek Group Bhd
said its wholly-owned subsidiary Kejaya Prospek (M) Sdn Bhd has accepted a contract from Persada Mentari Sdn Bhd (PMSB) for piling and substructure works for a proposed affordable apartment development at Bandar Tanjung Pinang, Pulau Andaman, Daerah Timur Laut, Pulau Pinang, for RM37.82mil.
In a filing with Bursa Malaysia, the group said the contract comprises the execution and completion of the piling and substructure works for a proposed affordable apartment development comprising one block of 38-storey affordable housing apartments comprising 922 units, together with amenity/facility areas, car parks and one unit of Tenaga Nasional Bhd Main Distribution Substation.
The contract commence on Oct 1, 2026, and be completed within 24 months.
PMSB is an indirect subsidiary company of Eastern & Oriental Bhd (E&O), a company which certain directors and major shareholders of the company 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," said the group.
