Kerjaya Prospek Group Bhd has maintained its new contract win target of RM1.2 billion for 2023, after having secured RM533.4 million in new jobs this year.
Of the RM533.4 million, RM135.4 million is for the BBCC Development in Bukit Bintang, Kuala Lumpur, where the company plans to construct a 21-storey structure.
The remaining RM398 million is for Tanjung Pinang Development, which includes the development of coastal protection structures on Andaman Island in Penang for phases 2B and 2C.
Datuk Tee Eng Ho, the company's executive chairman, expects high-rise residential development projects from its construction sector to be the company's main source of revenue this year.
"In terms of tender order book, we expect about RM1.5 billion to RM2 billion worth of contracts with a focus on high margin projects," he said after a briefing on the company's results for the first quarter ended March 31, 2023 (1QFY23).
Following its joint venture with Samsung C&T Corp in October last year, Kerjaya Prospeks anticipates projects worth more than RM300 million.
The company is also interested in a RM2 billion contract on Penang's Andaman Island.
As of March 31, 2023, its order book amounted to RM7.5 billion, with a current outstanding order book of RM4.5 billion, which included RM1.7 billion in related party transactions and RM613.0 million in infrastructure projects, among other things.
Tee also anticipates the company's property division to contribute more in the second half (2H) of this year with the debut of Papyrus @ North Kiara and The Vue @ Monterez in Shah Alam.
The Vue is a condominium building at Shah Alam's Monterez Golf & Country Club.
Tee said in 2021 that the Monterez Golf & Country Club project will consist of 435 condominium units spread across three 12- and 13-story blocks, with a gross development value of RM250 million.