Kerjaya Prospek Group Bhd, through its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd, has secured a RM223mil contract from Sunway Majestic Sdn Bhd for the construction and completion of main building works for a proposed small office/home office (Soho) development in Johor Baru, Johor.
Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong.
The construction group said the project comprises 1,012 Soho units spread across two 34-storey buildings, supported by a 10-level podium car park and two levels of mezzanine commercial space, among other facilities.
Construction is scheduled to begin on Sept 1, 2026, with completion expected within 32 months.
Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong said the latest contract would strengthen the group’s presence in the southern region, particularly within the Johor Baru City Centre, which is expected to benefit from the upcoming Rapid Transit System (RTS) Link.
“We are grateful for Sunway Majestic’s trust and confidence in Kerjaya Prospek, and we look forward to contributing our construction expertise and capabilities to the successful delivery of this development,” he said.
Tee added that the project marks Kerjaya Prospek’s third new contract win in Johor Baru since 2025, highlighting the group’s ability to tap opportunities within the strategic growth corridor.
With the latest contract, the group’s year-to-date financial year 2026 new contract wins have reached RM2.4bil, surpassing its initial full-year target of RM2bil.
Together with an outstanding order book of RM5bil, Tee said the group is well positioned with strong earnings visibility in the coming years.
An analyst also maintained a positive view on the latest contract win, noting that the RM223mil Sunway Majestic project further strengthens Kerjaya Prospek’s sizeable order book and supports its near-term earnings outlook.
The analyst said Malaysia’s construction sector is expected to sustain its positive momentum through the remainder of 2026, underpinned by continued private-sector investment in data centres, industrial facilities and commercial developments.
Johor is expected to remain a key growth market, while major infrastructure projects including the East Coast Rail Link (ECRL), RTS Link and Penang LRT are likely to provide additional long-term support to the construction sector.
For the first quarter ended March 31, 2026, Kerjaya Prospek recorded a 24.5% increase in net profit to RM57.3mil from RM46mil in the corresponding quarter a year earlier.
Revenue, however, declined 5.3% to RM446.8mil from RM472mil previously, mainly due to slower progress in construction activities during the quarter.
Its construction segment remained the group’s largest revenue contributor, recording RM478.7mil in revenue, an 11% decline from RM537.2mil previously due to slower construction progress.
Despite the lower revenue, construction segment profit rose to RM55.8mil from RM51.95mil a year earlier.
Meanwhile, revenue from the property development segment increased to RM68mil from RM49.1mil, supported by contributions from The Vue @ Monterez and Papyrus @ North Kiara developments.
