CEO Morning Brief

Kerjaya Prospek Bags RM568 Mil Contract in Penang

edgeinvest
Publish date: Tue, 28 May 2024, 10:41 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (May 27): Kerjaya Prospek Group Bhd (KL:KERJAYA) has bagged a contract worth RM567.73 million in Penang.

In a bourse filing on Monday, Kerjaya Prospek said its unit Future Rock Sdn Bhd had accepted a letter of award from Tanjung Pinang Development Sdn Bhd (TPD) for the execution and completion of reclamation and dredging works for Seri Tanjung Pinang (Phase 2B and 2C) development Penang.

TPD is an indirect subsidiary company of Eastern & Oriental Bhd (KL:E&O).

Kerjaya Prospek said the contract will commence on July 1 and be completed within 40 months.

The company said the contract is expected to provide an additional stream of revenue for the group over the next four years.

Kerjaya Prospek said the contract is expected to contribute positively to its earnings for the financial years ending 2024 to 2027.

Kerjaya Prospek closed unchanged at RM1.83, giving it a market capitalisation of RM2.32 billion.

Source: TheEdge - 28 May 2024

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