Kerjaya Prospek Group Bhd continues to aim for a new contract win target of RM1.2 billion for 2023, having already secured RM533.4 million in new projects this year.
Out of the RM533.4 million, RM135.4 million is allocated for the development of BBCC Development in Bukit Bintang, Kuala Lumpur, where Kerjaya Prospek plans to erect a 21-storey structure.
The remaining RM398 million is designated for the Tanjung Pinang Development, which encompasses the development of coastal protection structures on Andaman Island in Penang for phases 2B and 2C.
Datuk Tee Eng Ho, Kerjaya Prospek’s executive chairman, forecasts that high-rise residential development projects within the construction sector will emerge as the company’s chief revenue source for the year.
“We foresee around RM1.5 billion to RM2 billion worth of contracts in our tender order book, prioritizing high margin projects,” Tee stated, following a briefing on the company’s Q1 2023 results.
Post their joint venture with Samsung C&T Corp in October last year, Kerjaya Prospek anticipates projects exceeding RM300 million in value.
The company is also keen on a RM2 billion contract on Andaman Island, Penang.
As of March 31, 2023, Kerjaya Prospek’s order book totalled RM7.5 billion, with a standing order book of RM4.5 billion, inclusive of RM1.7 billion in related party transactions and RM613.0 million in infrastructure projects, among others.
Looking forward, Tee expects the company’s property division to contribute more significantly in the second half (2H) of 2023 with the launch of Papyrus @ North Kiara and The Vue @ Monterez in Shah Alam.
The Vue, located in Shah Alam’s Monterez Golf & Country Club, is a condominium project. As reported by Tee in 2021, the Monterez Golf & Country Club project will encompass 435 condominium units dispersed across three 12- and 13-story blocks, with a gross development value of RM250 million.