PETALING JAYA: Kerjaya Prospek Group Bhd has been awarded a RM227.31 million contract for the construction of apartments at Axon Bukit Bintang in Kuala Lumpur.
In a filing with Bursa Malaysia, the group said that its wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd received the letter of award for the contract from Enduring Power Sdn Bhd.
“This is an expansion of current customer base for the group. It further increases the group’s order book and is expected to provide an additional stream of revenue for the group over the next three years,” it said.
The contract entails the construction of one block of 27-storey apartments and one block of 34-storey apartments on top of a nine-storey podium car park. The developer of the project is AK Star Sdn Bhd.
The contract commences on July 1 and is to be completed within 36 months. It is expected to contribute positively to the earnings and net assets per share of the group for the financial years ending 2019 till 2022.
According to the group, this is the fourth contract it has secured so far this year, boosting its year-to-date contract wins to RM1.1 billion and bringing it closer to its internal target of RM1.2 billion for 2019.
The group’s outstanding order book stands at RM3.5 billion.
“Similar to any of the previous projects secured by the group, Kerjaya will complete this latest project within expectations and within budget. This latest contract further reflects the trust and confidence the industry and developers have in Kerjaya. We will continue to persevere to ensure that our 2019 target will be met,” said its executive chairman Datuk Tee Eng Ho.
