Kerjaya Prospek achieves RM1.5b contract wins in 2020


KERJAYA Prospek Group Bhd’s wholly owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, won a RM61.9 million contract from Aspen Vision City Sdn Bhd to develop a proposed residential project located at Lebuhraya Bandar Cassia in Batu Kawan, Penang.

This latest contract award, which is Kerjaya Prospek’s seventh in 2020, brings the year-to-date contract won this year to RM1.5 billion.

Kerjaya Prospek Group executive chairman Datuk Tee Eng Ho (picture) said the group’s strong outstanding orderbook of RM3.5 billion will provide earnings visibility for the next few years.

The project involves building works for the development of two units of 21⁄2 storey terrace houses, 168 units of two-storey terrace houses, two Tenaga Nasional Bhd’s substations, one surau and other supporting utility buildings.

“The project, expected to start on Jan 5, 2021, will take 24 months to complete,” he said in a statement. Aspen Vision is an indirect subsidiary of Aspen (Group) Holdings Ltd.

Tee expressed his appreciation to Aspen for their trust and confidence in Kerjaya Prospek Group. He said this project in fact is the second construction contract from Aspen in 2020.

“Despite the pandemic, I am grateful that Kerjaya Prospek Group is still able to secure new projects and maintain a strong and healthy balance sheet.

“Moving forward, we will continue to aggressively tender for new jobs and focus on delivering our projects to sustain earnings for our shareholders,” he concluded.

Kerjaya Prospek Group’s shares closed two sen or 1.87% lower at RM1.05, bringing its market capitalisation to RM1.30 billion.

Kerjaya Prospek Group on Oct 21 accepted a letter of award worth RM64 million from Tanjung Pinang Development Sdn Bhd.

The award is for the execution and completion of a sewerage treatment plant and all associated works on plot 20 and infrastructure works on a sewerage reticulation system and roadside surface water drainage for the proposed Seri Tanjung Pinang Phase 2A Development in Penang.

Works are slated to be completed within 24 months.

“Works related to sewerage treatment plants are unorthodox for Kerjaya Prospek Group, the works are expected to be completed favourably and represent a beneficial experience for the group, it noted in a statement recently.

On Sept 1, Kerjaya secured a RM203.7 million contract from a unit of Gamuda Bhd to build three blocks of serviced apartment in Kuala Langat, Selangor.