Kerjaya Prospek bags RM153.5m contract

by PRIYA VASU / pic by TMR FILE

KERJAYA Prospek Group Berhad through its 49% owned associated company, Kerjaya Bina BMK Sdn. Bhd. won a contract sum of RM153.5 million, from BBCC Development Sdn. Bhd. to undertake construction works for a proposed mixed development project located in Kuala Lumpur.

In a statement today the company said this project is Kerjaya’s first contract for the year, bringing the total outstanding order book to RM3.4 billion.

The Project encompasses construction of a block of 44-storey serviced apartment, a podium block with an 8-storey car park; and a 7-level car park, consisting of 3 underground and 4 basement levels.

“Construction works of the Project are expected to commence on 15 April 2021 and will take 30 months to complete from the commencement date. The Project is expected to contribute positively to the Group’s earnings and net assets per share from 2021 to 2023,” it noted in the statement.

BBCC is the master developer of the Bukit Bintang City Centre development, a joint development by Eco World Development Group Berhad, UDA Holdings Berhad and the Employees Provident Fund.

“We are delighted to secure our first contract for 2021, which is a good start for the Group. This shows our strong ability to replenish the order book. In fact, this is our third contract from BBCC. For that, I would like to thank BBCC for their confidence in us by giving us the opportunity to work with them again and be part of the state-of-the-art integrated development of Bukit Bintang City Centre,” said executive chairman Datuk Tee Eng Ho.

He added  With the roll out of the vaccines, 2021 is expected to be a recovery year, for both property and construction sectors.

“The market is gradually recovering and there is pent up demand for properties backed by the low-interest rate environment. With the positive outlook, we will aggressively tender for more good quality projects and target to launch two property projects in the second half of the year, which are Monterez Development and Yakin Land Development with a combined GDV of RM630 million,” he added.