Kerjaya Prospek Receives RM710 Million LOA For Development Project In Ampang

Kerjaya Prospek Group Berhad has accepted a letter of award from Nikmat Merpati Sdn. Bhd. for the construction of the main building and external works of a proposed residential development project, worth RM710.1 million.

The LOA is for the development of Astrum Ampang, a 6.75-acre Transit Oriented Development located near Jalan Jelatek and Jalan Ampang, Selangor. The project with a Gross Development Value of RM1.6 billion entails six blocks, consisting of a mixture of 5,255 small office home office (“SOHO”) units, apartments, and retail spaces. Making its mark as the first TOD and SOHO Transit in Malaysia, Astrum Ampang will also have a proposed 150-metre covered walkway linking the development to Jelatek LRT Station. It is also one stop away from Setiawangsa station, which will connect to the upcoming MRT3 line.

“This latest contract not only marks a significant milestone for the Group as it represents our largest ever contract win from an external party in our corporate history, but it also serves as a testament to our proven track record and ability to secure sizeable contracts from our clients,” said Tee Eng Tiong, Chief Executive Officer, and Executive Director, Kerjaya.

The group remains optimistic of achieving its contract wins target of RM1.2 billion in FY2022, with this award Kerjaya’s outstanding order book is bolstered to RM4.1 billion, which will sustain earnings over the next five years.

“Our strategic collaboration with Kerjaya Prospek signifies a great synergy which will benefit our flagship Klang Valley development, Astrum Ampang. As a reputable public-listed main contractor, Kerjaya Prospek is known for its quality workmanship, cutting edge construction technology and impressive portfolio spanning many years in the construction industry” said Ng Teck Hua, Executive Director, Setia Awan Central Region. The project by Setia Awan is expected to be completed 53 months from its commencement date in June 2022.

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