Latest news with #RM870.3
New Straits Times
12-05-2025
- Business
- New Straits Times
Kerjaya Prospek's Johor win boosts order book to RM4.6bil
KUALA LUMPUR: Kerjaya Prospek Group Bhd's maiden project win in Johor has pushed its outstanding order book to RM4.6 billion, providing earnings visibility for the next three years. Kenanga Research is positive on this sixth contract job win for financial year 2025 (FY25), which is Kerjaya Prospek's first non-related party win for the year. "It has guided a 10 per cent profit after tax margin for this project. This win brings year-to-date contract wins to RM870.3 million, against our FY25 job replenishment assumption of RM1.8 billion. "This formed 48 per cent of our target and 54 per cent of management's target. Its current total outstanding order book stands at RM4.6 billion, which will keep them busy for the next three years," it said in a note. Kerjaya Prospek's subsidiary Kerjaya Prospek (M) Sdn Bhd has secured a RM162 million building contract in Johor Baru from Majestic Gen Sdn Bhd. The contract involves main building works for Gen Rise, a 47-storey transit-oriented serviced apartment development located near customs, immigration and quarantine and the Bukit Chagar rapid transit system. Additionally, Kerjaya Prospek has set a job replenishment target of RM1.6 billion for FY25, backed by a RM2 billion tender book for building jobs. In addition, together with its joint venture partner Samsung, the company is tendering for three data centre jobs worth RM3 billion with targeted outcomes by the third quarter of 2025. "Its related party company E&O plans to launch projects with building jobs worth RM2 billion in 2025. For its property development segment, its 55 per cent-owned Rivanis will sustain its construction and property earnings in the next seven years," it added. Kenanga Research maintained its 'Outperform' call on the stock with an unchanged target price of RM2.10.
The Sun
08-05-2025
- Business
- The Sun
Kerjaya Prospek, Majestic Gen in RM162m Johor deal
KUALA LUMPUR: Construction company Kerjaya Prospek Group Bhd's wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award from Majestic Gen Sdn Bhd for a building contract worth RM162 million in Johor Bahru. The contract entails main building works for Gen Rise, a 47-storey transit-oriented serviced apartment development near the customs, immigration and quarantine (CIQ) and Bukit Chagar Rapid Transit System (RTS). The project comprises a single block with 732 units, nine levels of podium parking, and other supporting facilities. Construction, scheduled to commence on Aug 1, is expected to be completed within 36 months. Kerjaya Prospek CEO and executive director Tee Eng Tiong said the construction of Majestic Gen's is the company's maiden project in Johor and its first contract win in the state for 2025. 'Geographically, our focus remains on three growth regions namely Klang Valley, Penang and Johor, where we see strong demand and vibrant development activities continue to shape the future of urban living. 'With this latest RM162 million job, our year-to-date new contract wins have reached RM870.3 million, placing us well on track to achieve our RM1.6 billion target for the year,' he said in a statement. Tee said the total outstanding order book now stands at RM4.6 billion, providing healthy earnings visibility and a solid foundation for continued growth over the next four financial years. Majestic Gen CEO Datuk Hoo Kim See said the company had appointed Kerjaya Prospek, a reputable construction firm, to build Gen Rise – its first project in Johor. 'This is a truly momentous occasion for both companies as we aim to deliver quality and sustainable products to our esteemed buyers. 'We hope that this collaboration will further boost the market's confidence in our current and future developments with an estimated GDV of RM3.7 billion,' he said.
New Straits Times
08-05-2025
- Business
- New Straits Times
Kerjaya Prospek secures RM162mil Johor contract for 47-storey project
KUALA LUMPUR: Kerjaya Prospek Group Bhd's subsidiary Kerjaya Prospek (M) Sdn Bhd has secured a RM162 million building contract in Johor Baru from Majestic Gen Sdn Bhd, its first contract win in the state for 2025. The contract involves main building works for Gen Rise, a 47-storey transit-oriented serviced apartment development located near the customs, immigration and quarantine (CIQ) and Bukit Chagar rapid transit system (RTS). The project comprises a single block with 732 units, nine levels of podium parking and other supporting facilities, amongst others. Construction, scheduled to commence on Aug 1 this year, is expected to be completed within 36 months. Kerjaya chief executive officer and executive director Tee Eng Tiong said the company's focus remains on three growth regions, namely Klang Valley, Penang and Johor, where strong demand and vibrant development activities continue to shape the future of urban living. "With this latest job, our year-to-date new contract wins have reached RM870.3 million, placing us well on track to achieve our RM1.6 billion target for the year. "Total outstanding order book now stands at RM4.6 billion, providing healthy earnings visibility and solid foundation for continued growth over the next four financial years," he said in a statement. Majestic Gen chief executive officer Datuk Hoo Kim See expressed confidence that the collaboration will further strengthen market trust in the company's ongoing and upcoming developments, which have a combined estimated gross development value of RM3.7 billion.
