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 12 May 2016 accepted a Letter of Award from BCB Heights Sdn. Bhd. ("BCB Heights") dated 12 May 2016, for the main building works of the proposed development project known as "Elysia Park Residence – Phase I” on part of PTD 199671, Nusajaya, Mukim Pulai, Daerah Johor Bahru, Johor Darul Takzim ("Project") ("Award").

The contract sum of the Award is RM312.85 million, excluding Goods and Services Tax, which comprises main building works, amongst others, for 3 tower blocks ranging from 30 floors to 36 floors and 1 podium car park of 10 floors for the Project.

The construction works to be undertaken by KPSB is expected to commence on 26 May 2016 (“Date of Commencement”) and due to be completed on 25 May 2019, being thirty-six (36) months from the Date of Commencement.    

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

The Award 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 Project.

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

This announcement is dated 12 May 2016.