Kerjaya Prospek bags building project worth RM154.68m

KUALA LUMPUR (June 20): Kerjaya Prospek Group Bhd has bagged a contract worth RM154.68 million for a residential development project in Kuala Lumpur.

In a bourse filing on Monday (June 20), the company said its unit Kerjaya Prospek (M) Sdn Bhd had accepted a letter of award from Bangsar Hill Park Development Sdn Bhd for the main building of the development at Lorong Maarof.

It said the project will commence on July 15, 2022 and be completed within 35 months from the commencement date.

Kerjaya Prospek said the contract is expected to provide an additional stream of revenue for the group over the next three years.

The company said the project is expected to contribute positively to its earnings for the financial years ending 2022 to 2025.

With this contract, Kerjaya Prospek said its total outstanding order book now stands at approximately RM4.3 billion.

In a separate statement, Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong said being able to surpass the initial target order book replenishment of RM1.2 billion for 2022 in just six months is a testament of the market’s trust and confidence in the company’s products and services.

“Going forward, we have revised our target wins for the year to RM1.5 billion as we continue to leverage on our competitive strengths when tendering for new projects,” said Tee.

Shares of Kerjaya Prospek settled up two sen or 1.77% to RM1.15, giving it a market capitalisation of RM1.46 billion.