KUALA LUMPUR: Kerjaya Prospek Group Bhd via its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award from Kerjaya Property Sdn Bhd for building works in Setapak, Kuala Lumpur valued at RM111.76mil.

       In a filing with Bursa Malaysia, the group said the contract entails the building works of a 52-storey service apartment, which comprises 42 storeys of service apartments, a one-storey basement, an eight-storey elevated carpark and a one-storey facilities floor.

       The contract shall commence on Jan 16, 2024 and be completed within 40 months from the commencement date.

       According to Kerjaya Prospek, the contract is a recurrent related party transaction as Kerjaya Property is a wholly-owned subsidiary of Kerjaya Prospek Property Bhd, in which certain directors and shareholders of the group have direct and indirect interests.

       The group said the contract is expected to provide an additional stream of revenue to the group for the next three years.