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KUALA LUMPUR (Feb 23): Kerjaya Prospek Group Bhd (KL:KERJAYA) has received a RM502.27 million contract from Tanjung Pinang Development Sdn Bhd for the execution and completion of reclamation and dredging works for the Seri Tanjung Pinang (Phase 2B and 2C) Development (STP2) in Penang.
Kerjaya Prospek's wholly-owned subsidiary Future Rock Sdn Bhd received the letter of award on Monday, Feb 23, from Tanjung Pinang Development Sdn Bhd, which is an indirect subsidiary of Eastern & Oriental Bhd (KL:E&O), according to a bourse filing.
Seri Tanjung Pinang is a 240-acre seafront development by E&O in Tanjung Tokong, Penang.
The project is scheduled to commence on March 11, 2026 and expected to be completed before March 31, 2029.
The project is expected to provide an additional revenue stream for the group over the next three years and enhance its existing order book.
The company’s shares were down 0.79% at RM2.52 at Monday’s midday break, valuing the company at RM3.19 billion.
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