private placement total 100 mil shares at 1.82 per piece,if the kerjaya boss did not promise the big boys a beautiful share price performance,i doubt there will even be an over subscription for the pp.
This article first appeared in The Edge Financial Daily, on June 1, 2016.
KUALA LUMPUR: Kerjaya Prospek Group Bhd has secured two main building work contracts worth RM278.38 million, resulting in the group's order book hitting RM875 million, surpassing its internal target of RM600 million this year.
Kerjaya Prospek, which was formerly known as Fututech Bhd, told the bourse yesterday its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd had accepted a letter of award from Eco Sanctuary Sdn Bhd for the main building works of the proposed development of a gated and guarded apartment project in Kuala Langat, Selangor, for a contract sum of RM172.43 million.
Eco Sanctuary is a wholly-owned subsidiary of Eco World Development Group Bhd.
The contract comprises main building works for three blocks of apartments ranging from 21 to 25 floors, and a car park podium with two floors.
The construction of the main building works is scheduled to start in June. It is expected to be completed in July 2018, it said.
In a separate statement, Kerjaya Prospek said it also secured a RM105.95 million contract from the group's directors for the main building works of a mixed development in Penang.
The contract is awarded by a related party, Kerjaya Prospek Property Sdn Bhd, a company jointly controlled by Kerjaya Prospek executive chairman Datuk Tee Eng Ho and executive director Tee Eng Seng. The project comprises serviced apartments, commercial lots and a car park podium.
Both projects are expected to contribute positively to Kerjaya Prospek's earnings going forward.
“It has been our internal target to secure an order book of RM600 million this year. Taking into account today's awards, our total order book has surpassed our targets and stands at RM875 million.” Eng Ho said.
Kerjaya Prospek's current outstanding order book stands at RM2.64 billion.
However, shares in Kerjaya Prospek, which closed at its five-year high of RM2.08 on May 27, faced some selling pressure yesterday and ended the day six sen or 2.88% lower at RM2.02, giving it a market capitalisation of RM1.02 billion.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
insidernewz
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Posted by insidernewz > 2016-05-24 11:32 | Report Abuse
rumours are out that 600m infra project will be ann very soon