Kerjaya Prospek unit clinches RM291m contract

PETALING JAYA: Kerjaya Prospek Group Bhd's unit Kerjaya Prospek (M) Sdn Bhd (KPMSB) has clinched RM291 million contract from Bon Estates Sdn Bhd for the construction of a proposed residential development project known as "The Estate" in South Bangsar, Kuala Lumpur.

In a joint-statement, the group said Bon Estates has appointed KPMSB as the main contractor for the project.

The company’s stock closed two sen up at RM3.89 today, with some 531,200 shares changing hands. It has a market capitalisation of RM2.2 billion.

The contract covers the construction of main building, hardscape, external and other ancillary works for The Estate, which comprises two towers residential high-rise of 46 storey each, with a total of 328 units condominium on a 3.68 acres of freehold land.

The 32 months contract will start this month. With the signing of the deal, Kerjaya Prospek said the group's total outstanding orderbook amounted to RM3.15 billion.

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

Meanwhile, in seeking out the partner for The Estate, Bon Estates managing director Goh Soo Sing said the company naturally looked at entities that could keep within costing and timeline parameters as well as abide by the high quality standards envisioned for the project.

"I believe the selection of Kerjaya Prospek with such a strong reputation in quality delivery provides an important foundation to achieve this and provides a great deal of confidence as we move forward with our ambitions for The Estate," said Goh.