Kerjaya Prospek lands RM22.6m piling job

KUALA LUMPUR (Oct 2): Kerjaya Prospek Group Bhd's wholly-owned subsidiary has landed a piling contract worth RM22.6 million from Bintang Holdings Sdn Bhd.

According to a statement today, Kerjaya Prospek (M) Bhd has accepted a letter of award for the contract, which is the fourth contract awarded to Kerjaya by Low Yat Group of companies, which Bintang Holdings is a member of.

Kerjaya executive chairman Datuk Tee Eng Ho said: "We are positive that we will see more growth going forward. The contract will increase our outstanding orderbook to approximately RM3.4 billion which will provide an earnings visibility for the next three years."

"This exhibits confidence in Kerjaya's overall strength as an integrated construction player and not just confined to residential high-rise projects," he added.

The contract covers the construction of basement and earthworks for a 23-storey hotel development, which includes a 17-storey hotel and a two-storey basement carpark, located at Lot 129, 749 & 748, Seksyen 14, Bandar George Town, Jalan Sultan Ahmad Shah, DTL, Penang.

The contract will commence on Oct 15, 2019, and is to be completed within 15 months from the commencement date.

This is Kerjaya's sixth contract award for the year, bringing year-to-date contract wins to RM1.3 billion.

The real estate developer has already met its internal target of RM1.2 billion order wins earlier in August 2019 after securing the RM95 million contract for the retail podium package in the Bukit Bintang City Centre project.

Kerjaya shares were last traded at RM1.33 for a market capitalisation of RM1.65 billion.

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. MAH: Penang hotel occupancy rates expected to be boosted by September
  2. Bina Puri to raise up to RM9m via private placement
  3. Surge in hotel reservations - Nancy Shukri