Kerjaya Prospek boosts order book to Rm4.6bil
Group secures rm95.1mil contracts from e&o units
PETALING JAYA: Kerjaya Prospek Group Bhd has secured two contracts totalling Rm95.1mil from Eastern & Oriental Bhd’s (E&O) units.
The construction group said in a statement its wholly owned subsidiaries, Permatang Bakti Sdn Bhd and Kerjaya Prospek (M) Sdn Bhd, won the contracts from Tanjung Pinang Development Sdn Bhd (TPD) and Persada Mentari Sdn Bhd (PMSB), respectively.
Both TPD and PMSB are indirect subsidiaries of E&O.
The first letter of award (LOA) worth Rm69.2mil is in relation to the execution of the superstructure works on Gurney Marine Bridge Phase 2, which is expected to be completed within 24 months from Jan 22, 2024.
The bridge will link Jalan Gurney to Andaman Island.
The second LOA, which is worth Rm25.9mil, involves the execution and completion of the piling and sub-structure contract works on a proposed 50-storey serviced apartment consisting of 261 units on Andaman Island.
The construction works are expected to be completed within 12 months from Jan 22.
“We are only into the first few days of the new year yet, together with the Rm170.9mil contract which we received last week,
“We are only into the first few days of the new year yet, together with the Rm170.9mil contract which we received last week, Kerjaya has already secured a cumulative year-to-date contract value of Rm266.1mil.”
Tee Eng Tiong
Kerjaya has already secured a cumulative year-to-date contract value of Rm266.1mil.
“We undoubtedly intend to continue expanding our order book to meet our internal target of Rm1.2bil for 2024,” Kerjaya chief executive officer and executive director Tee Eng Tiong said.
Kerjaya’s Rm170.9mil contract that was secured last week involves building contract works at a proposed development at Andaman Island.
Under the scope of the contract, Kerjaya will execute the main building works for the proposed development of a 45-storey serviced apartment.
The job comprised one block of 38-storey serviced apartments, a two-storey basement carpark, a five-storey elevated car park, a facilities floor and a wardrobe, kitchen cabinet and vanity mirror for a typical unit.
The contract commences on Jan 18, 2024, and will be completed within 35 months.
For the third quarter ended Sept 30, 2023 (3Q23), Kerjaya posted a net profit of Rm35.57mil, up from Rm28.81mil achieved in the same quarter in 2022.
Basic earnings per share rose to 2.82 sen from 2.28 sen in 3Q22. The group reported revenue of Rm362.23mil, an improvement from Rm259.4mil in the previous corresponding quarter.
The enhanced financial performance was mainly attributed to the increase in revenue from its construction division by 33% to Rm344mil and the property development division by 100% to Rm17.7mil, as a result of the revenue recognition from The Vue@ Monterez project.