New contract lifts Kerjaya Prospek’s order book to RM3.15b
New contract awarded by Bon Estates helps construction firm exceed tender book expectations
KERJAYA Prospek Group Bhd’s recent job win worth RM291 million has helped the construction company exceed its tender book expectations by two times to RM1.6 billion this year.
Executive chairman Datuk Tee Eng Ho said this was Kerjaya Prospek’s seventh contract award for the year, bringing the year-todate contract wins to RM1.16 billion and its total outstanding order book to RM3.15 billion.
“It was our internal target to get RM800 million this year. We seek to deliver earnings growth in the coming years as we believe the construction sector will do better. We will continue to expand our client base ,” said Tee yesterday.
Kerjaya Prospek was recently appointed as the main contractor by property developer Bon Estates Sdn Bhd for a residential development project in South Bangsar.
It is the company’s first project with Bon Estates.
The project would comprise two high-rise residential towers of forty-six storey each, with a total of 328 condominium units and a three-storey podium for recreational facilities, to be built on top of four and a half level basement car park.
The project was expected to commence this month and completed within 32 months from the commencement date.
Tee said the contract was expected to contribute positively to the earnings and net assets per share of the group for the financial years ending this year to 2020, as well as provide a steady stream of revenue for the group over the next three years.
Kerjaya Prospek, a residential and commercial construction contractor, has a wide client portfolio including SP Setia Bhd, Eco Development Group Bhd, Yong Tai Bhd and BCB Bhd.
More recently, the company expanded into property development with two projects in the pipeline — Genting Permai and Monterez in Shah Alam, Selangor, with a total gross development value of RM500 million.