Kerjaya Prospek gets RM292.8m construction contract

• Kerjaya Prospek has secured RM1.45 billion in new contracts so far this year.

KUALA LUMPUR (Sept 11): Kerjaya Prospek Group Bhd (KL:KERJAYA) said on Wednesday it had secured a RM292.8 million contract for building works in Kuala Lumpur.

The project involves the construction of a 57-storey service apartment building comprising 1,126 units, eight levels of podium parking, and a sub-basement, Kerjaya Prospek said in an exchange filing. Work is scheduled to start on Sept 17, and take 38 months to complete, it noted.

The contract is expected to contribute to the earnings and net assets per share for the financial year ending Dec 31, 2025 (FY2025) to FY2027, Kerjaya Prospek said.

The contract — the eighth so far this year — was awarded to the group's wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd by Mega Legacy (M) Sdn Bhd, a subsidiary of UEM Sunrise Bhd (KL:UEMS).

Kerjaya Prospek has secured RM1.45 billion in new contracts so far this year.

The most recent win was a RM275.29 million contract from Persada Mentari, a 70.4%-owned unit of Eastern & Oriental Bhd (KL:E&O), for the construction of a 50-storey building in Bandar Tanjung Pinang, Penang, on Aug 19.

On April 1, the company won a RM567.73 million contract for the reclamation and dredging works for Seri Tanjung Pinang, as well as a RM33.19 million contract for piling and earthworks for a service apartment in Pulau Andaman, Penang.

In January, the group secured four contracts, including a RM111.76 million residential project in Setapak, Kuala Lumpur, and two contracts totalling RM95.1 million for superstructure works at Gurney Marine Bridge Phase 2 and a 50-storey service apartment in Pulau Andaman.

Kerjaya Prospek shares were unchanged at RM1.81 at noon ahead of the contract announcement, valuing the company at RM2.28 billion. The stock has risen 16.77% year-to-date.

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