In a statement, the group said the project involves the construction of a 52-storey main building, comprising a 42-storey serviced apartment block and an eight-storey elevated car park, amongst others.

“Construction works are slated to be completed within 40 months from Jan 16, 2024,” it said.

Kerjaya Prospek said the contract, which was undertaken on an arm’s length basis, based on commercial terms which are not more favourable than those available to the public, was awarded by Kerjaya Property Sdn Bhd (KPSB), a wholly owned subsidiary company of Kerjaya Prospek Property Bhd.

Kerjaya Prospek CEO and executive director Tee Eng Tiong said the company is confident that the residential development will be executed and delivered on time.

“Internally, we maintain our company trajectory of seeking additional lucrative jobs whilst placing an emphasis on the crucial need for successful project execution,” he said.

Tee said the award represented the fourth construction win for this year, bringing year-to-date cumulative contract wins to RM377.9 million.

“We remain cautiously optimistic with our financial performance, going forward, buoyed by our sizeable outstanding order book of RM4.7 billion, which is expected to support the group’s earnings growth,” he added.

As at 3.01pm, Kerjaya Prospek’s share price was down by 1 sen or 0.59% at RM1.69, giving it a market capitalisation of RM2.14 billion.