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Property News

Kerjaya Prospek clinches RM125 mil contract from UEM Sunrise’s subsidiary

KUALA LUMPUR (Aug 30): Kerjaya Prospek Group Bhd has secured a RM125.02 million contract from a subsidiary of UEM Sunrise Bhd for a proposed phase two development project at Taman Equine in Bandar Putra Permai.
The group, via its wholly-owned unit Kerjaya Prospek (M) Sdn Bhd, had received a letter of award on Wednesday from UEM Sunrise’s wholly-owned Sunrise Alliance Sdn Bhd.
The job, which will begin on Sept 27 and be completed within 29 months from the commencement date, is expected to provide the group with an additional stream of revenue over the next three years, Kerjaya Prospek said in its bourse filing.
About two weeks ago, Kerjaya Prospek reported that its net profit for the second quarter ended June 30, 2023 rose 10.6% to RM31.57 million from RM28.54 million a year earlier, as revenue expanded 11.7% to RM309.28 million from RM276.92 million on improved progress of construction work activities.
For the cumulative six months ended June 30, 2023 (6MFY2023), Kerjaya Prospek’s net profit rose 6.2% to RM60.98 million, from 6MFY2022’s RM57.4 million, as revenue increased 5% to RM606.5 million from RM577.5 million.
As at end-June, the group has a net cash of RM203.7 million, with an outstanding construction order book of RM4.5 billion.
Kerjaya Prospek’s shares finished two sen or 1.21% higher at RM1.26 on Wednesday, valuing the group at RM1.6 billion.
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Source: EdgeProp.my

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