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“The proposed acquisitions are expected to enable the group to achieve elevated strategic synergistic benefits in complementary business focus and enhanced geographical track record.

The proposed disposal is expected to generate a gain of approximately RM554,000 for the construction firm, which will be recognised as part of its financial results.

There are still construction jobs worth RM520 million from property launches by related party Eastern & Oriental Bhd for Andaman Island this year, according to RHB Investment Bank’s estimates.

This marks the fourth contract Kerjaya Prospek has secured since the beginning of the year, bringing its outstanding order book to over RM4.

CIMB Securities said in its note that the domestic focus on the sector makes it relatively attractive to foreign investors.

The contractor, Geopancar Sdn Bhd, had initiated the adjudication to claim payments for substructure works for a project known as Flex @ Bukit Jalil City, undertaken by Ho Hup's wholly-owned unit Bukit Jalil Development Sdn Bhd (BJD).

The job involves the construction of four blocks of apartments of between 30 and 37 storeys high and one block of a five-storey podium with shop offices.

Unlike the conventional cross-subsidy model to provide affordable housing, where private developers and free-market house buyers are always on the “losing side”, a fairer resource allocation can be achieved through the “Madani Credits” system.

The company told Bursa Malaysia on Thursday that its audit committee convened a meeting on March 25 to receive an update from Messrs UHY on the draft special independent review (SIR) report.

Southern Score said that the transfer will enhance its corporate profile, credibility and reputation, while increasing its visibility among institutional investors.