Kerjaya Prospek bags RM291m construction job in South Bangsar

Kerjaya Prospek bags RM291m construction job in South Bangsar
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KUALA LUMPUR (Sept 18): Kerjaya Prospek Group Bhd has bagged a contract worth RM291 million for construction works in South Bangsar.

In a filing to Bursa Malaysia today, Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd (KPMSB) has accepted a letter of award from Bon Estates Sdn Bhd for main building works, hardscape works, external works and other ancillary works for a proposed residential development project known as "The Estate".

The Estate comprises two 46-storey towers of residential high-rise with a total of 328 condominium units and a three-storey podium for recreational facilities to be built on top of a four-and-a-half-level basement car park sited on a 3.68-acre freehold land, said Kerjaya Prospek.

"This is an expansion of KPMSB's current customer base. It further enlarges the group's order book and is expected to provide a steady stream of revenue for the group over the next three years," it said.

Signing the deal worth RM291 million today at Bon Estates Office in Bangsar, this brings the total outstanding orderbook of Kerjaya Prospek to RM3.15 billion, it said in a separate statement today.

This project marks Kerjaya Prospek's seventh contract award for the year and brings the year-to-date contract wins to RM1.16 billion, said the group.

"This is our first project with Bon Estates and I would like to thank them for giving us the opportunity to be part of their flagship project," said Kerjaya Prospeks's executive chairman Datuk Tee Eng Ho.

"We are looking forward to the commencement of work and delivering this project according to the high standards that Kerjaya Prospek is known for.

"I am excited for the coming years as we seek to deliver earnings growth by executing the various projects in our RM3.15 billion outstanding orderbook," Tee added.

Bon Estates, a premium boutique developer, started its operations in 2009. It was previously known as PPM Realty Sdn Bhd.

At noon break, Kerjaya Prospek shares were down two sen or 0.52% to RM3.85 for a market capitalisation of RM2.16 billion.