Kerjaya Prospek secures RM41.5m contract

KUALA LUMPUR: Kerjaya Prospek Group Bhd’s wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd has been awarded a RM41.45 million contract by Tanjung Pinang Development Sdn Bhd (TPD), an indirect subsidiary of Eastern & Oriental Bhd (E&O).

The award is for the execution and completion of infrastructure works which will comprise of roadworks, street lighting works and all other associated works for the proposed Seri Tanjung Pinang (Phase 2A) Development (STP 2).

The construction works will take 16 months to complete from its scheduled commencement on Feb 5, 2020.

Kerjaya executive chairman Datuk Tee Eng Ho (pix) said it is delighted to have secured the third contract for 2020 in such quick succession which brings its total contract wins for 2020 to RM1.0 billion and its total outstanding order book to RM3.90 billion.

“Kerjaya will continue to work hard and execute our ongoing projects to deliver sustainable earnings and create value for our shareholders,” he said in a statement.

This contract is regarded as recurrent related party transactions of a revenue or trading nature (RRPT) pursuant to Bursa Malaysia Securities Bhd’s listing requirements. Eng Ho is a director and substantial shareholder of E&O together with Tee Eng Seng who is also a substantial shareholder of E&O. The RRPT mandate was approved by Kerjaya’s shareholders

at their AGM in May 2019 and at E&O’s AGM in August 2019.