KUALA LUMPUR (Oct 10): Kerjaya Prospek Group Bhd has bagged a RM226 million contract from Aspen Vision City Sdn Bhd for the development of a 37-storey residential building in Batu Kawan, Penang.

With the latest contract win, Kerjaya Prospek has managed to surpass its target of securing RM1.2 billion worth of new contracts this year, by securing RM1.5 billion of new jobs so far. As a result, its outstanding orderbook increased to RM4.7 billion, the group said in a statement on Tuesday.

“Opportunities in the area are vast, being Penang’s third satellite city and a natural extension from Penang island.

“Essentially, this contract is a testament of our capabilities, expertise and strong track records, which we have proven consistently for all of our projects,” said Kerjaya Prospek chief executive officer (CEO) and executive director Tee Eng Tiong.

The development will see a 37-storey residential building with a total 980 units in two blocks, on top of a seven-storey podium comprising car parks, community recreational facilities and shoplots. The construction works are expected to commence on Oct 27, 2023 and to be completed within 42 months from the commencement date.

Moreover, the contract is expected to provide an additional stream of revenue for the group over the next four years.

Kerjaya Prospek’s share price finished unchanged at RM1.37 on Tuesday, giving the group a market capitalisation of RM1.74 billion.