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 31 May 2016 accepted a letter of award from Eco Sanctuary Sdn. Bhd. ("Eco Sanctuary"), a wholly-owned subsidiary of EcoWorld Development Bhd for the Main Building Works of the proposed development of a gated and guarded apartment project to be developed on Lot PT 41302 Mukim Tanjung Dua Belas, Daerah Kuala Langat, Selangor Darul Ehsan ("Project") ("Award").

The contract sum of the Award is RM172.43 million, which comprises main building works, amongst others, for 3 tower blocks of apartment ranging from 21 floors to 25 floors and 1 podium of car park of 2 floors for the Project. 

The construction works to be undertaken by KPSB is expected to commence on 30 June 2016 (“Date of Commencement”) and due to be completed on 29 July 2018, being twenty-five (25) 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 2018.

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 31 May 2016.