KUALA LUMPUR (Jan 30): Kejuruteraan Asastera Bhd has won an electrical installation services contract worth RM20 million from Kerjaya Prospek Group Bhd for a hotel, office and serviced apartment project in the city.

In a filing yesterday, the company said its role as a subcontractor involves the supply, delivery, installation, testing and commissioning of the services.

Work commenced yesterday and is expected to be completed by Nov 1, 2022, it added.

The group expects the contract to contribute positively to its future earnings for the duration of the contract.

“We are very glad to establish a new business relationship with Kerjaya Prospek by securing this maiden project from them,” said KAB managing director Datuk Lai Keng Onn in a statement.

“Kerjaya Prospek is one of the largest construction companies in Malaysia and we are looking forward to deepen our relationship by participating in more project bids,” he added.

The project, known as Bloomsvale, is located on Jalan Klang Lama and comprises two 53-storey blocks and another 25-storey block.

Kejuruteraan Asastera’s share price rose one sen or 0.54% to RM1.86 yesterday, giving the group a market capitalisation of RM688.63 million.

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