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KUALA LUMPUR (April 23): Kerjaya Prospek Group Bhd has secured a contract worth RM438.8 million for construction of main building works for a proposed development project.
In a filing to Bursa Malaysia today, Kerjaya Prospek said its unit Kerjaya Prospek (M) Sdn Bhd (KPMSB) had accepted a letter of award from Kerjaya Prospek Property Sdn Bhd (KPPSB), a related party.
It said the contract covers the construction of main building for the proposed mixed development comprising a 25-storey block of offices and hotel and two 53-storey blocks of serviced apartments on top of an 11-storey podium and four levels of basement at Jalan Puchong, Kuala Lumpur.
On the rationale for the contract, the group said the acceptance of the contract is in the ordinary course of business and is undertaken on an arm's length basis.
Kerjaya Prospek said the contract further enlarges its order book and is expected to provide a steady stream of revenue over the next four years, adding that it is expected to contribute positively to its earnings for the financial years ending 2019 to 2022.
At the midday break today, Kerjaya Prospek rose 1.5% or 2 sen to RM1.35 with 713,600 shares traded. — theedgemarkets.com
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