Kerjaya Prospek bags RM197.7mil worth of contracts for Shah Alam apartments and Andaman bridges

Kerjaya Prospek Group Bhd (KPGB) has secured two construction contracts with a combined value of RM197.7 million, strengthening its order book with new residential and infrastructure jobs in Selangor and Penang.

The contracts were awarded to the group’s subsidiaries Permatang Bakti Sdn Bhd and Kerjaya Prospek (M) Sdn Bhd, and are expected to support KPGB’s revenue over the next three to four financial years.

Contract 1: 39-storey serviced apartments in Shah Alam (RM100.2mil)

The first job, worth RM100.2 million, is for the construction of a 39-storey serviced apartment tower in Shah Alam. Permatang Bakti Sdn Bhd will undertake the works, which cover:

– 479 serviced apartment units
– Basement and sub-basement parking
– Ground floor lobby, shop units, nursery, prayer room, refuse room and electrical substation
– Six levels of podium car park
– Residents’ facilities floor with gym, swimming pool and other shared amenities
– Recreational floor, adding lifestyle value for residents

Construction is slated to start on 17 Nov 2025 and is expected to run for 34 months, pointing to a targeted completion around mid-2028, subject to progress and approvals.

Contract 2: Five canal bridges at Andaman Island, Penang (RM97.5mil)

The second contract, valued at RM97.5 million, was awarded to Kerjaya Prospek (M) Sdn Bhd for the construction of five canal bridges on Andaman Island at Bandar Tanjung Pinang, Penang.

Key scope highlights:
– Five bridges, each approximately 80 metres in length
– Bridges will link Fasa 2A–2B and Fasa 2C on reclaimed land at Andaman Island
– Works form part of the internal connectivity and road network supporting future development phases in the broader Bandar Tanjung Pinang masterplan

Works are scheduled to commence on 24 Nov 2025, with an estimated 33-month construction period, taking completion towards late 2028 / early 2029.

Earnings impact & related-party nature

Kerjaya Prospek expects both contracts to contribute positively to earnings and net assets per share over the duration of the projects.

The group also disclosed that both awards are related-party transactions, as major shareholders and directors Datuk Seri Tee Eng Ho, Datin Seri Toh Siew Chuon and Datuk Tee Eng Seng hold interests on both the awarding and receiving sides. The appointments follow internal governance processes and Bursa requirements for such transactions.

What these wins signal for Kerjaya Prospek

Taken together, the Shah Alam and Andaman contracts:

1. Diversify the order book across high-rise residential and infrastructure/bridge works
2. Strengthen KPGB’s presence in growth corridors like Shah Alam and Penang’s Andaman Island

3. Provide multi-year revenue visibility into 2028–2029, supporting utilisation of the group’s construction resources.

Search for latest residential properties in Shah Alam:

https://nextsix.com/properties-for-sale/selangor/shah-alam/residential

or, frequently searched properties in Penang:
https://nextsix.com/properties-for-sale/penang/residential

Article Information Source: EdgeProp

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