The Board of Directors of Kerjaya Prospek Group Berhad ("Company") is pleased to announce that its wholly-owned subsidiary company, Kerjaya Prospek (M) Sdn. Bhd. ("KPSB"), has on 5 September 2016 accepted a letter of award (“LA”) from Eco Terraces Development Sdn. Bhd. (formerly known as Gama Citra Sdn, Bhd.), a subsidiary of Eco World Development Group Berhad, at the total contract sum of Ringgit Malaysia One Hundred Forty Six Million Seven Hundred Thousand Only (RM146,700,000.00).

The LA is for the main building works for a proposed development project comprising of one (1) block of thirty-four (34) storey building for three hundred and thirty-three (333) units condominium on PT 2509 & PT 2511 (Lot asal 9324 & 9325), Mukim 13, Daerah Timur Laut, Pulau Pining (“Contract”).

The construction works to be undertaken by KPSB under the LA is expected to commence on 19 September 2016 and due to be completed on 18 February 2019.

The Contract will further increase and enhance the existing order book of the Company and its group of companies ("Group").

The Contract will have no effect on the issued and paid-up capital of the Company but it is expected to contribute positively to the earnings and net assets per share of the Company and the Group for the financial years ending 2016 to 2019.

None of the directors and/or major shareholders of the Company or persons connected to them have any interest, direct or indirect, in the Contract.

A copy of the press release in relation to the above is attached for information.

This announcement is dated 5 September 2016.