KUALA LUMPUR (Nov 28): Kerjaya Prospek Group Bhd (KL:KERJAYA) is in talks with the property arm of Retirement Fund Inc (KWAP) to develop an industrial park in Batu Kawan, Penang.
The potential development is expected to be structured as a joint venture (JV) with KWAP’s property platform, KWEST Sdn Bhd, according to executive chairman and major shareholder Datuk Seri Tee Eng Ho.
“The announcement is not out yet as discussions are ongoing. We cannot share details such as the JV shareholding structure or provide guidance on potential earnings contribution at this stage,” Tee said during the group’s third-quarter results briefing on Friday.
He noted that the industrial park would be larger than the group’s conventional residential projects, reflecting Batu Kawan’s growing appeal to multinational manufacturers, semiconductor players, logistics providers, and data centre operators.
Strategic Rationale
Batu Kawan has emerged as a key E&E investment hub in Malaysia, attracting demand for industrial land and purpose-built facilities. Developers are increasingly competing to secure landbank to capitalize on high-value supply chain expansion and the region’s industrial growth.
Kerjaya Prospek is also:
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Maintaining a tender book of RM2–3 billion focused on higher-margin projects.
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Jointly bidding for new contracts with Samsung C&T through the Samsung-KP JV, especially for factory and data centre construction in Malaysia.
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Exploring RM2 billion in infrastructure works under the Andaman Island development in Penang.
Financial Performance
For 3QFY2025, Kerjaya Prospek reported:
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Net profit: RM57.44 million, up 24% YoY from RM46.09 million
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Revenue: RM566.25 million, up 12.16% YoY
For 9MFY2025, the group achieved:
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Net profit: RM157.95 million, up 35.3% YoY from RM116.73 million
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Revenue: RM1.58 billion, up 27.5% YoY
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Outstanding construction order book: RM3.6 billion as of end-September
At the time of writing, Kerjaya Prospek shares rose five sen or 1.79% to RM2.85, giving it a market capitalisation of RM3.55 billion. The stock has gained over 24% year-to-date.
Kerjaya Prospek’s planned Batu Kawan industrial park positions the group to capture the rising demand for industrial space in Penang, leveraging its growing order book and strategic collaborations with local and international partners.
