KUALA LUMPUR: Kerjaya Prospek Group Bhd has bagged a RM275.3 million contract for the proposed development of a serviced apartment in Pulau Andaman, Penang.
Kerjaya Prospek said its wholly-owned Kerjaya Prospek (M) Sdn Bhd had won the contract which involves the execution and completion of a 50-storey main building works.
"The construction works are scheduled to commence on Jan 2, 2025 and to be completed within 38 months," it said.
According to Kerjaya Prospek, the contract was undertaken on an arm's length basis and based on normal commercial terms.
It was secured from Persada Mentari Sdn Bhd, an indirect subsidiary company of Eastern & Oriental Bhd, in which Kerjaya Prospek's substantial shareholders have direct and indirect interests.
Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong said with the addition of the project, the company's total outstanding order book now stands at about RM4.4 billion.
This will give the company solid earnings visibility over the next four years.
"As we continue to grow and solidify our position in the construction industry, we remain committed to showcase our expertise in executing large-scale projects that meet the highest standards of quality and efficiency," he added.