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Kerjaya Prospek bags RM207.36 mil contract

KUALA LUMPUR (May 11): Kerjaya Prospek Group Bhd has bagged a contract worth RM207.36 million for the construction of 166 units of three-storey semi-detached houses, 99 units of three-storey bungalows and ancillary works in Shah Alam.

This project is Kerjaya Prospek’s second contract award for the year and brings the current outstanding orderbook to RM2.5 billion.

“This project awarded from BCB brings our year-to-date contract wins to RM239 million,” said its executive chairman Datuk Tee Eng Ho in a statement.

In a filing with Bursa Malaysia this evening, Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd had accepted a letter of award (LoA) from BCB Development Sdn Bhd (BCB).

Kerjaya Prospek said the construction works is for 29 months, which is expected to commence on May 15. It will be completed on Sept 30, 2019.

“The contract will further increase and enhance the existing orderbook of the company and its group of companies,” said Kerjaya Prospek.

Kerjaya Prospek said the contract is expected to contribute positively to the company’s earnings and net assets per share for the financial years ending Dec 31, 2017 to 2019.

In a separate statement, it said Kerjaya Prospek’s award of this premium landed development further strengthens the group’s technical expertise as a solution provider not only in premium high-rise developments but also in the premium landed segment.

“The group is confident that the Industrialised Building System (IBS) that has been such a great success in premium high-rise projects will also give them a competitive advantage when executing premium landed projects,” it added.

“This is our second project with BCB and I would like to thank them for their confidence in our ability to deliver projects within time, within budget and of high quality,” Tee added.

Kerjaya Prospek share price gained 10 sen or 3.31% at RM3.12 today for a market capitalisation of RM1.61 billion. — theedgemarkets.com

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