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Kerjaya Prospek to undertake Pulau Andaman service apartment project for RM291.43mil

The Star·04/07/2025 05:15:00
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KUALA LUMPUR: Kerjaya Prospek Group Bhd's wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a contract from Persada Mentari Sdn Bhd for the development of a service apartment in Bandar Tanjung Pinang, Pulau Andaman, in Pulau Pinang, for RM291.43mil.

The contract is a related party transaction by virtue of Persada Mentari's parent, Eastern & Oriental Bhd, which shares certain directors and major shareholders with Kerjaya Prospek.

In a filing with Bursa Malaysia, Kerjaya Prospek said the contract entails the execution of main building works for 50 storeys of a proposed service apartment comprising one block of 516 units with a car park and facilities floor.

The contract commences on June 23, 2025, and will be completed within 38 months.

It is expected to provide an additional stream of revenue for the group over the next three years.