Kerjaya Prospek bags RM710.1 mln construction contract

KUALA LUMPUR, Feb 22 -- Kerjaya Prospek Group Bhd's wholly-owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, has secured a contract worth RM710.1 million from Nikmat Merpati Sdn Bhd for the construction of the main building and external works of a proposed residential development project.

Kerjaya Prospek chief executive officer Tee Eng Tiong said this contract not only marked a significant milestone for the group but also represented the largest-ever contract win from an external party in its corporate history.

"It serves as a testament to our proven track record and ability to secure sizeable contracts from our clients,” he said at the signing ceremony between Nikmat Merpati and Kerjaya Prospek (M) today.

Kerjaya Prospek (M) has accepted a letter of award from Nikmat Merpati for the development of Astrum Ampang, a 2.73-hectare Transit Oriented Development (TOD) located near Jalan Jelatek in Kuala Lumpur and Jalan Ampang, Selangor.

“Going forward, we will continue to leverage on our core expertise to secure new projects. As the nation begins to recover from the adverse impacts of COVID-19, we remain optimistic of achieving our contract wins target of RM1.2 billion in financial year 2022,” Tee said.

With the new contract award, Kerjaya Prospek’s outstanding order book stands at RM4.1 billion, which will sustain the Group’s earnings over the next five years.

Astrum Ampang, with a gross development value of RM1.6 billion, comprises six towers, offering a total of 5,255 units including small office home office (SOHO), apartments and retail spaces.

The project is developed by Setia Awan Group, which has common shareholders with Nikmat Merpati. The project will commence on June 15, 2022 and is expected to be completed by September 2026.

Setia Awan Group executive director, central region, Ng Teck Hua said the strategic collaboration with Kerjaya Prospek signified a great synergy which will benefit Astrum Ampang, the group's flagship development in the Klang Valley.

"As a reputable public-listed main contractor, Kerjaya Prospek is known for its quality workmanship, cutting edge construction technology and impressive portfolio spanning many years in the construction industry.

"This collaboration will further strengthen Setia Awan’s unique DNA of delivering value-driven, quality, innovative and sustainable property development products to house buyers," he said.

Meanwhile, Setia Awan Group central region chief operating officer James Bruyns said Phase One of Astrum Ampang, comprising shoplots, SOHO Transit and affordable houses, had achieved a 90 per cent take-up rate since its launch in September last year.

"One of the key factors for the high take-up rate is the My First Home Scheme programme which promotes property ownership for first-time house buyers.

"The project's location in a strategic area and TOD point is another factor for the encouraging take-up rate," he said.

Phase Two of Astrum Ampang consisting of SOHO Suites 1 and SOHO Transit 2 will be launched in April 2022.

-- BERNAMA