Kerjaya Prospek unit bags RM45.95 million construction contract

PETALING JAYA: Kerjaya Prospek Group Bhd's 70%-owned subsidiary Future Rock Sdn Bhd (FRSB) has been appointed as a subcontractor for the Phase 2B of the Seri Tanjung Pinang project with a contract value of RM45.95 million.
It told Bursa Malaysia that FRSB had on August 1 accepted a letter of award from China Communications Construction Company (M) Sdn Bhd on the appointment.
Construction works for the project is expected to commence on July 27, 2017 and due to be completed on May 26, 2018.
Kerjaya Prospek said the contract is the group's fifth award for the year, bringing to contract wins of RM426 million year to date. The contract is expected to contribute positively to the group's earnings and net assets per share for the financial years ending 2017 and 2018.
As at March 31, 2017, its outstanding order book stood at RM2.6 billion.
At 12.30pm, the stock fell 3 sen to RM3.68 on some 109,800 shares done, giving it a market capitalisation of RM1.91 billion.