CEO Morning Brief

Kerjaya Prospek Wins Contract Worth RM135 Mil From BBCC Development

Publish date: Fri, 03 Feb 2023, 08:40 AM
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TheEdge CEO Morning Brief
Kerjaya Prospek wins contract worth RM135 mil from BBCC Development

KUALA LUMPUR (Feb 2): Construction outfit Kerjaya Prospek Group Bhd announced that its 49%-owned subsidiary Kerjaya Bina BMK Sdn Bhd has accepted a letter of award (LOA) from BBCC Development Sdn Bhd — a joint venture company between Employees Provident Fund, UDA Holdings Bhd and Eco World Development Group Bhd.

The award — valued at RM135.4 million — is for the design and build contract work of the main building for the proposed development project off Jalan Hang Tuah/Jalan Pudu in Kuala Lumpur, said a press statement on Thursday (Feb 2).

The project is expected to commence on March 1, 2023 for 36 months.

It includes the design and build contract of main building works for a 31-storey block of service apartments, basement and podium, consisting of a seven-storey car park, main lobby and multi-purpose hall.

“The new contract awarded serves as a testament to our proven track record and ability to consistently secure and deliver contracts from our clients despite the challenging macro environment,” said Kerjaya Prospek group chief executive officer and executive director Tee Eng Tiong.

“The LOA from BBCC Development represents the group’s first contract for the year, our outstanding order book is bolstered to RM4.3 billion which will provide the group with earnings visibility for the next five years.”

Kerjaya Prospek’s shares were unchanged at RM1.21 at the time of writing. Its market capitalisation was RM1.53 billion.

Source: TheEdge - 3 Feb 2023

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