PENANG (Jan 13): Construction outfit Kerjaya Prospek Group Bhd has bagged a RM617 million contract to construct apartments for Aspen Vision City Sdn Bhd in Penang.
This contract win represents almost half of Kerjaya Prospek's RM1.3 billion new job wins in 2019.
At the signing ceremony today, Kerjaya Prospek (M) Sdn Bhd, a wholly-owned subsidiary of Kerjaya Prospek, accepted a letter of award from Aspen, a joint venture company between Aspen (Group) Holdings Ltd and IKEA Southeast Asia, for the proposed development.
The contract involves two phases, namely VIVO and VIIO, and is located in Aspen Vision City, a mixed development project spanning 245 acres of land.
VIVO, which is worth RM365 million, entails piling, pile cap and main building works for the development of 1,530 executive apartments, 14 shops, a car park podium and common facilities.
The construction works will take 38 months from its scheduled commencement on Feb 14, 2020 and is slated for completion by April 2023.
Meanwhile, VIIO, valued at RM252 million, entails piling, pile cap and main building works for the development of 980 executive apartments, nine shops, a car park podium and common facilities.
The construction works of VIIO shall be completed within 36 months from a commencement date to be determined later.
Kerjaya Prospek executive chairman Datuk Tee Eng Ho said the group is off to a great start in 2020 and is proud to receive this job by Aspen for its first contract of the year.
"This contract again demonstrates Kerjaya Prospek's growing reputation as a contractor of choice in delivering high-quality projects on time without compromising on safety.
"I am excited for the coming years ahead as we seek to deliver earnings growth with our outstanding order book of approximately RM3.5 billion to-date. The group will continue to aggressively tender for new works and expect positive outcomes from these tendering activities in due course," he added.
Trading of Kerjaya Prospek shares was suspended today and will resume tomorrow (Jan 14). The stock last closed at RM1.32 on Friday, valuing it at RM1.64 billion.