Shah Alam: Construction outfit Kerjaya Prospek Group Bhd's wholly-owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, has secured a RM256.4 million contract from Eastern and Oriental Express Sdn Bhd (E and OE) to undertake building construction works in Elmina West, Shah Alam. E and OE is an indirect subsidiary of Eastern and Oriental Bhd, in which certain directors and major shareholders of Kerjaya have direct or indirect interests.

According to BERNAMA News Agency, the project's scope includes constructing 360 units of three-storey terrace houses, alongside a clubhouse, landscaping works, and other related infrastructure. Kerjaya's chief executive officer and executive director Tee Eng Tiong stated that the group's total outstanding order book now stood at approximately RM4.2 billion with the addition of the contract, ensuring sustained earnings visibility for the next three years.

'This new project win exemplifies our commitment to drive great value for shareholders while solidifying our position as one of the top players in the construction sector. We look forward to delivering exceptional results and maintaining our growth momentum as we embark on this new financial year,' Tee Eng Tiong said.

Kerjaya stated that the project would be delivered in three phases, with construction slated to begin on January 20, 2025, and expected completion within 26 months. The contract was undertaken on an arm's length basis and based on normal commercial terms.