Kerjaya Prospek Group Berhad announced that its wholly owned subsidiary has won a contract valued at RM275.3 million which involves the execution and completion of a 50-storey main building works for the proposed development of a serviced apartment in Pulau Andaman, Penang.

The apartment comprises 261 units with a car park and facilities floor. The construction works are scheduled to commence on 2 January 2025 and to be completed within 38 months.

The contract, it said was undertaken on an arm's length basis and based on normal commercial terms, was secured from Persada Mentari Sdn. Bhd, an indirect subsidiary company of Eastern & Oriental Berhad, a company which substantial shareholders of Kerjaya have direct and indirect interests.

Kerjaya chief executive officer and executive director Tee Eng Tiong stated, "With the addition of this project to our portfolio, the Group's total outstanding order book now stands at approximately RM4.4 billion, with solid earnings visibility over the next 4 years. As we continue to grow and solidify our position in the construction industry, we remain committed to showcase our expertise in executing large-scale projects that meet the highest standards of quality and efficiency."