KERJAYA PROSPEK TARGETS RM1.5 BLN ORDER BOOK FOR 2020

AZLEE NOR MAHMUD

KUALA LUMPUR, Feb 26 (Bernama) -- Construction firm Kerjaya Prospek Group Bhd is targeting a RM1.5 billion order book for this year, up from the RM1.3 billion achieved in 2019.

Executive chairman Datuk Tee Eng Ho said the company, which is also involved in property development and manufacturing, had surpassed its order book target of RM1.2 billion last year.

“Our year-to-date contract wins stand at about RM1 billion, representing 77 per cent of the total contracts worth RM1.3 billion secured in the financial year ended Dec 31, 2019 (FY19).

“Meanwhile, our outstanding order book is estimated at RM3.9 billion, which will provide earnings visibility for the next three years,” he told a media and analyst briefing on its FY19 fourth-quarter and full-year results here today.

At the briefing, Tee gave a list of Kerjaya Prospek’s corporate milestones for year 2020, including a RM617 million contract awarded by Aspen Vision City Sdn Bhd for Vivo Executive Apartment, a RM332 million contract from Patsawan Properties Sdn Bhd and infrastructure works worth RM41.5 million from Tanjung Pinang Development Sdn Bhd.

“Contract wins for 2020 amounted to RM990.5 million and outstanding order book stood at RM3.9 billion as at Jan 31, 2020,” he said.

Tee said the company had earmarked RM30 million for capital expenditure (capex) in 2020, down from 2019's RM35.7 million.

“The capex allocated for 2020 would be for systems and plant equipment,” he said.

On whether the company would achieve another record earnings for this financial year, Tee said it was possible.

“Kerjaya’s main focus has always been on delivering high quality projects on time without compromising on safety that the industry and developers value. We are confident of delivering another set of good results this year despite external headwinds.

“We are confident of meeting our 2020 targets and position Kerjaya Prospek for sustained and sustainable growth in the years beyond,” he added.

The group’s construction division is mainly involved in the building of high-rise residential and commercial buildings for several premium developer clients in Malaysia. 

Kerjaya Prospek is also involved in infrastructure projects in Malaysia, winning its maiden infrastructure project for reclamation works of the second phase of Seri Tanjung Pinang (STP 2) Penang back in 2016.

Kerjaya Prospek today announced its net profit rose to RM140.14 million for FY19 from RM138.20 million in the preceding year.

In contrast, revenue slipped 1.3 per cent to RM1.06 billion from RM1.07 billion previously.

-- BERNAMA

 

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Kerjaya Prospek, Results, Construction, Property