PETALING JAYA: Kerjaya Prospek Group Bhd’s unit Kerjaya Prospek (M) Sdn Bhd has been awarded a RM710.1mil construction contract for a property project in Kuala Lumpur.
The group said it had accepted a letter of award from Nikmat Merpati Sdn Bhd for the construction of the main building and external works of a residential development called Astrum Ampang.
The project is a 6.75-acre transit-oriented development that is located near Jalan Jelatek and Jalan Ampang, Selangor, with a proposed 150-metre covered walkway to the Jelatek LRT Station.
“The approving authority is under the Selangor (government) but the postcode is under KL. It is a hybrid project as it is on the (Selangor-KL) border,” Setia Awan Land Sdn Bhd chief operating officer James A. Bruyns said at a briefing yesterday. Setia Awan wholly owns Nikmat Merpati.
The project has a gross development value of RM1.6bil. It has six blocks consisting of a mixture of 5,255 small-office-home-office units, apartments and retail spaces.
With this contract award, Kerjaya said its outstanding order book increased further to RM4.1bil and would be sufficient to sustain the group’s earnings over the next five years.
“This latest contract not only marks a significant milestone for the group as it represents our largest ever contract win from an external party in our corporate history, it serves as a testament to our proven track record and ability to secure sizeable contracts,” said Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong.
“Going forward, we will continue to leverage on our core expertise to secure new projects. As the country begins to recover from the adverse impact of Covid-19, we remain optimistic of achieving our contract wins target of RM1.2bil in the financial year 2022 (FY22),” Tee added.
The property project by Setia Awan is expected to be completed 53 months from its date of commencement in June 2022, its press statement said.
“Our strategic collaboration with Kerjaya Prospek signifies a great synergy which will benefit our flagship Klang Valley development, Astrum Ampang.
“As a reputable public-listed main contractor, Kerjaya Prospek is known for its quality workmanship,” said Setia Awan central region’s executive director Ng Teck Hua.