Kerjaya Prospek secures RM138.7m contract for works on STP2 bridge

KUALA LUMPUR (June 5): Kerjaya Prospek (M) Sdn Bhd, a wholly-owned subsidiary of Kerjaya Prospek Group Bhd, has been awarded the construction works for a marine bridge crossing the sea linking Jalan Seri Tanjung Pinang on Penang Island to Seri Tanjung Pinang Phase 2 (STP2) Island.

The total contract sum of the project, which was awarded by Tanjung Pinang Development Sdn Bhd (TPD), amounts to RM138.65 million.

According to Kerjaya, construction works will take approximately 27 months, starting on June 11, 2018 and targeting completion by Sept 10, 2020.

In a statement today, the company said the project is expected to contribute to the revenue, earnings and net asset per share of the group for the financial year ending from 2018 to 2020.

"With our strong outstanding order book of approximately RM3.02 billion, we expect this project and our various other projects to contribute positively to our top-line and bottom-line growth for the next few years," added Kerjaya executive chairman Datuk Tee Eng Ho.

TPD, a subsidiary of Eastern & Oriental Bhd (E&O), holds concession rights to the two-phase development of the Seri Tanjung Pinang (STP) reclamation project located on the northeast coast of Penang.

Phase one (STP1) of the project is a 240-acre reclamation project located adjacent to STP on the Penang main island which is fully reclaimed and close to completion.

STP2 is a 760-acre reclaimed island located across the waters to the east of STP1.

At the midday break, Kerjaya dipped 0.66% or 1 sen to RM1.51 with 193,700 shares done. — theedgemarkets.com

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