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- Construction on the Shah Alam apartment will begin on Nov 17, 2025 and is expected to take 34 months. The canal bridges project will start on Nov 24, 2025 and is expected to be completed in 33 months.
PETALING JAYA (Nov 11): Kerjaya Prospek Group Bhd has secured two construction contracts totaling RM197.7 million. Its subsidiary, Permatang Bakti Sdn Bhd, will build a RM100.2 million, 39-storey apartment in Shah Alam, while Kerjaya Prospek (M) Sdn Bhd will construct five canal bridges on Andaman Island, Penang, worth RM97.5 million.
The Shah Alam development will feature 479 service apartment units, basement and sub-basement parking, a ground floor with a lobby, shop units, nursery, prayer room, refuse room, and electrical substation, six levels of podium parking, residents’ facilities including a gym and swimming pool, and a recreational floor.
The Andaman project involves five 80-metre-long canal bridges connecting Fasa 2A–2B and Fasa 2C on reclaimed land in Bandar Tanjung Pinang.
Construction on the Shah Alam apartment will begin on Nov 17, 2025 and is expected to take 34 months. The canal bridges project will start on Nov 24, 2025 and is expected to be completed in 33 months. Both contracts are projected to contribute to KPGB’s revenue over the next three to four years.
Both contracts are related-party transactions, as directors and major shareholders Datuk Seri Tee Eng Ho, Datin Seri Toh Siew Chuon, and Datuk Tee Eng Seng have interests in both the awarding and receiving companies.
Kerjaya Prospek said both projects are expected to positively impact the group’s earnings and net assets per share.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
