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 27 July 2016 accepted a letter of award (“LA”) from Nusmetro Property Sdn. Bhd. at the total contract sum of Ringgit Malaysia Three Hundred Thirty Eight Million Seven Hundred Ninety Six Thousand Only (RM338,796,000.00).

The LA is for the main building works for a proposed mixed development project comprising, inter-alia simplex and duplex serviced suites and serviced residences housed within three (3) towers that ranging from 58-66 storey and a nine (9) storey podium of car park on Lot 80418 (Plot 3), Jalan Khidmat Usaha, Off Persiaran Dutamas, Mukim Batu, Wilayah Persekutuan Kuala Lumpur (“Contract”).

The construction works to be undertaken by KPSB under the LA is expected to commence on 1 September 2016 (“Date of Commencement”) and due to be completed on 31 October 2019, being thirty eight (38) months from the Date of Commencement.    

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 27 July 2016.