KUALA LUMPUR (Feb 12): Kerjaya Prospek Group Bhd has won an RM280 million contract from HCK Capital Group Bhd to build the main building for a development project in Subang Jaya.
In a filing with Bursa Malaysia, Kerjaya Prospek said its wholly-owned unit Kerjaya Prospek (M) Sdn Bhd has accepted the letter of award from HCK Capital’s subsidiary, HCK Builders Sdn Bhd.
The 28-month contract is targeted to be completed by July 2021.
It covers the construction of the main building for the proposed project comprising four towers and a three-storey retail unit and office podium.
The group said the contract further increases its order book and is expected to provide an additional stream of revenue over the next three years.
In a press release, Kerjaya Prospek said the project will be rebranded to ‘Edumetro’ from its previous name of ‘Remix 2’.
Kerjaya Prospek executive chairman Datuk Tee Eng Ho said with this contract, the group’s total contract wins for 2019 will be RM435 million, and total outstanding order book is about RM3.3 billion.
“This is our second project from HCK and I would like to take this opportunity to thank them for giving us the privilege to work with them again. With that in mind, the group will continue to work hard and execute our on-going projects to deliver sustainable earnings and create value for our shareholders,” he said.
On Jan 15 this year, HCK Capital, controlled by businessman Tan Sri Clement Hii, announced the takeover of the development of the Empire Remix 2 project in Subang Jaya from Mammoth Empire Holding Sdn Bhd’s unit True Renaissance Development Sdn Bhd and rebranding it into an integrated education city development.
Kerjaya Prospek’s share price fell two sen or 1.57% to RM1.25 today, giving it a market capitalisation of RM1.54 billion.
Meanwhile, HCK Capital declined one sen or 0.78% to RM1.27, valuing the group at RM535.2 million.