Kerjaya’s work orderbook grows with new RM211m contract

By FARA AISYAH / Pic By HUSSEIN SHAHARUDDIN

Kerjaya Prospek Group Bhd’s wholly owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, has received a contract worth RM211.58 million from PPB Hartabina Sdn Bhd to construct the main building and external works for a proposed mixed-development project in Sungai Buloh, Selangor.

In an exchange filing yesterday, the construction concern noted the contract calls for the building of a 31-storey service apartment and a nine-storey podium carpark with common facilities and a four-storey office/commercial units with two-level basement carpark and commercial units.

The proposed project is scheduled to start on Dec 8, 2018, and slated for completion on June 8, 2021.

“This is an expansion of the group’s current customer base and the job increases our orderbook, providing an additional stream of revenue over the next three years,” Kerjaya Prospek executive chairman Datuk Tee Eng Ho (picture) said in a statement yesterday.

Kerjaya’s outstanding orderbook now stands at RM3.08 billion. Year-to-date, it has clinched contracts amounting to RM989.8 million.

Last week, Kerajaya accepted two contracts worth a total RM282.25 million from Nusmetro Group for construction works in Mont Kiara and on Jalan Cheras in Kuala Lumpur.

The first construction contract worth RM29.82 million was awarded by Nusmetro Mont Kiara Sdn Bhd for substructure works on a proposed commercial development in Mont Kiara. Works are slated for completion by Sept 25, 2020.

The second contract, worth RM252.43 million, awarded by Nusmetro Arte Sdn Bhd, is for the construction of a commercial main building on Jalan Cheras. The work is scheduled to commence on Feb 1, 2019, and slated for completion by March 31, 2022.

Kerjaya Prospek recorded a 7.18% year-on-year (YoY) increase in its earnings to RM36.88 million for the third quarter ended Sept 30, 2018.

Revenue improved by 17.37% YoY to RM269.89 million, mainly attributed by its construction business.

As such, Kerjaya Prospek aims to focus on the construction segment moving forward to be the main revenue driver of the group.

Kerjaya’s shares closed two sen or 1.65% higher at RM1.23 yesterday, giving it a market capital isat ion of RM1.52 billion.