KUALA LUMPUR (Aug 1): Kerjaya Prospek Group Bhd’s unit Kerjaya Prospek (M) Sdn Bhd has secured two contracts with a combined value of RM46 million from Eastern & Oriental Express Sdn Bhd (E&OE) and Persada Mentari Sdn Bhd (PMSB) for development projects in Selangor and Penang.

In a statement on Tuesday (Aug 1), the company said the first contract valued RM24.7 million from E&OE entails the execution and completion of site clearance, earthworks, drainage works and all other associated works for a proposed mixed development in Shah Alam, Selangor.

The project is expected to be completed within 17 months from the scheduled date of commencement of Oct 1.

The second contract, which is worth RM21.3 million and was awarded by PMSB, involves the completion of infrastructure works encompassing surface water drainage, water reticulation system, sewerage reticulation system, roadworks and all other associated works for the proposed Seri Tanjung Pinang Phase 2A Development, Penang.

The infrastructure works are anticipated to be completed within 12 months from the commencement date of Sept 18.

“As a group, we have gradually expanded our construction segment into infrastructure projects. These contract wins, therefore, demonstrate our abilities to undertake and execute other types of jobs in addition to high-rise construction works, and at the same time creating an additional revenue stream over the next two years,” said Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong.

He further added Kerjaya Prospek’s year-to-date order book strengthened to RM983.8 million, translating to 82% of its target wins of RM1.2 billion for this year.

“We will continue to put in efforts to win more contracts, ensure our quality of work is of the highest quality and deliver all our ongoing projects within the stipulated timeframe to sustain our earnings visibility,” he said.

At the midday break, Kerjaya Prospek shares were up one sen or 0.89% to RM1.13, valuing the group at RM1.43 billion.