Kerjaya Prospek Group Bhd shares were largely steady in late morning trade as investors digested the group’s latest RM488.4 million contract win for a major residential development in Penang’s Andaman Island.
At the time of writing, the construction group was last done at RM2.38, down 0.01 or 0.42%, after trading between RM2.35 and RM2.46 with volumes exceeding 12,000 lots. The counter opened at RM2.40 and saw mild selling pressure despite the fresh project addition to its order book.
Sentiment around the stock was underpinned earlier this week after Kerjaya Prospek secured the AVÉA marina-edge residence contract awarded by Persada Mentari Sdn. Bhd., an indirect subsidiary of Eastern & Oriental Berhad. The deal involves the construction of two 46-storey serviced apartment towers with 1,080 units, alongside basement parking, podium facilities, commercial space and recreational amenities.
Construction is scheduled to begin on 1 July 2026 with completion targeted within 42 months, adding long-term visibility to the group’s replenishment pipeline.
While the project strengthens Kerjaya Prospek’s order book, the market reaction remained muted, suggesting investors are already pricing in steady contract flows amid a broader cautious tone in the construction sector.
The Andaman Island win also highlights continued exposure to large-scale coastal developments in Penang, an area that has been a recurring source of jobs for the group in recent years, particularly from linked property developers.
For now, price action indicates consolidation rather than re-rating as the market awaits further catalysts, including additional contract wins or stronger earnings visibility from ongoing projects.
