Kerjaya Prospek Unit Secures RM275.29 Mln Construction Contract In Penang

KUALA LUMPUR, Kerjaya Prospek Group Bhd's wholly owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, has secured a RM275.29 million construction contract from Persada Mentari Sdn Bhd. In a filing with Bursa Malaysia, Kerjaya Prospek said the contract involves the development of a 50-storey serviced apartment block in Penang comprising 261 units with a car park and facilities floor. 'The contract is to be completed within 38 months from the commencement date,' it said. The contract is expected to provide an additional revenue stream for the group over the next four years and will increase and enhance the group's existing order book. Persada Mentari is an indirect subsidiary of Eastern and Oriental Bhd (EandO). The non-executive chairman of Kerjaya Prospek Group is also the executive chairman of EandO. Major shareholders and connected persons have interests in both companies. Source: BERNAMA News Agency