Kerjaya Prospek Secures RM56.4 Million Contract to Build Hawker Centre Along Gurney Drive

KUALA LUMPUR (Nov 12) — Kerjaya Prospek Group Bhd has added another major win to its portfolio after securing a RM56.4 million construction contract from the Penang Chief Minister’s Department. The job, awarded to wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd, involves constructing a new hawker centre and steel roof structures along the well-known Jalan Gurney stretch in Penang.

The project, which kicks off immediately, is scheduled for completion within 18 months. According to the group’s filing with Bursa Malaysia, the contract is expected to generate consistent revenue and contribute positively to the company’s earnings and net assets per share from FY2025 to FY2027.

Contract Boosts Order Book to RM3.76 Billion

With this latest win, Kerjaya Prospek’s year-to-date contract tally rises to RM1.22 billion, spread across 10 projects, strengthening its outstanding order book to approximately RM3.76 billion. This robust pipeline cements the group’s positioning as one of Malaysia’s most active builders, particularly in major urban growth corridors.

Such healthy construction momentum also indirectly supports expanding demand in surrounding regions for commercial property in KL, industrial land in Selangor, and even modern logistics assets like industrial property in the Subang area. Developers and investors typically look for proven contractors to support growth in mixed-use projects and new infrastructure nodes.

Additional RM197.7 Million in Related-Party Contracts

Just a day earlier, Kerjaya Prospek revealed it had secured two recurrent related-party contracts worth RM197.7 million:

• RM100.2 million to build an apartment project in Shah Alam, and

• RM97.5 million for the construction of canal bridges on Andaman Island, Penang.

The stakeholders involved — Datuk Seri Tee Eng Ho, Datin Seri Toh Siew Chuon, and Datuk Tee Eng Seng — hold significant positions and shareholdings across Kerjaya Prospek, Kerjaya Prospek Property Bhd, and the related entities.

These developments further highlight active construction flows across the Klang Valley and Penang, contributing to improved connectivity and rising investment interest in areas such as factory sites in Puchong and premium office space in Bukit Jalil.

Market Reaction

Kerjaya Prospek’s shares edged up two sen to RM2.70 during Wednesday’s midday session, valuing the company at RM3.42 billion. The consistent contract wins and strong order visibility continue to bolster investor confidence.