EPF JV co awards RM153.5m contract to Kerjaya Prospek associate

EPF JV co awards RM153.5m contract to Kerjaya Prospek associate
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KUALA LUMPUR (April 9): Kerjaya Prospek Group Bhd's 49%-owned associate Kerjaya Bina BMK Sdn Bhd has secured a RM153.5 million contract from Employees Provident Fund (EPF)-linked joint venture (JV) co BBCC Development Sdn Bhd for the construction of the main building of a proposed 44-storey serviced apartment project within site off Jalan Hang Tuah and Jalan Pudu here.

In a statement to Bursa Malaysia today, Kerjaya Prospek said BBCC is a JV co set up by the EPF, UDA Holdings Bhd and Eco World Development Group Bhd.

According to Kerjaya Prospek, Kerjaya Bina today (April 9) accepted the contract's letter of award from BBCC.

Kerjaya Prospek said: "The contract covers the construction of (the) main building for the proposed development project (involving a) 44-storey serviced apartment, eight-storey podium car park and seven-storey car park located at Lot PT 50001, Seksyen 56, off Jalan Hang Tuah/Jalan Pudu, Wilayah Persekutuan, Kuala Lumpur."

"The contract shall commence on April 15, 2021 and to be completed within 30 months from the commencement date.

"The contract is expected to provide an additional stream of revenue for the group over the next two years," Kerjaya Prospek said.

Kerjaya Prospek said the contract will increase group's order book and that the project is expected to contribute positively to the earnings and net assets per share of the group for financial years ending Dec 31, 2021 (FY21) to FY23, according to the company.

At Bursa's 12.30pm break today, Kerjaya Prospek's share price settled unchanged at RM1.37 for a market value of about RM1.69 billion.

Kerjaya Prospek has 1.23 billion issued shares, according to the company's latest quarterly financial report.