Kerjaya Prospek Group Bhd has secured a RM37.82 million contract for piling and substructure works at an affordable apartment development in Pulau Andaman, Penang, strengthening the construction company’s existing order book.
Its wholly owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, accepted the letter of award from Persada Mentari Sdn Bhd, an indirect subsidiary of Eastern & Oriental Berhad, on Sept 14.
The contract covers piling and substructure works for a proposed 38-storey affordable housing development comprising 922 units, together with amenity and facility areas, car parks and a Tenaga Nasional Bhd main distribution substation at Bandar Tanjung Pinang, Pulau Andaman.
Works are scheduled to commence on Oct 1, 2026, and are expected to be completed within 24 months.
Kerjaya Prospek said the contract is expected to provide an additional revenue stream over the next two years and further strengthen its order book.
The project is also expected to contribute positively to the company’s earnings and net assets per share for the financial years ending 2026 to 2028.
The contract is classified as a recurrent related party transaction under Bursa Malaysia’s Main Market Listing Requirements, with the relevant shareholder mandate having been obtained at the company’s AGM in June.
