Kerjaya Prospek order book reaches RM6 billion with TNB project
The contractor’s 25 per cent interest in a joint venture gives it approximately RM142 million of a RM568.2 million substation contract.
Kerjaya Prospek Group Bhd has secured a share of a RM568.2 million Tenaga Nasional Bhd (TNB) contract to build a substation in Terengganu, bringing its contract wins so far this year to RM3.3 billion. Its outstanding orders now total RM6 billion.
The award covers a multi-voltage gas-insulated substation in Paka. The joint venture undertaking the work comprises Kerjaya Prospek (M) Sdn Bhd, Jati Tinggi Holdings Sdn Bhd and Betapac Sdn Bhd. Kerjaya Prospek holds 25 per cent of the venture, representing approximately RM142 million in attributable orders.
Completion is expected within 24 months from the start of work. Public Investment Bank Bhd (PublicInvest) said the project broadens the group’s exposure to high-voltage power infrastructure and provides greater visibility on earnings for the next two to three years.
Assuming high-single-digit profit margins, PublicInvest estimated an earnings contribution of about RM6 million, or 2.1 per cent, in financial years 2027 (FY27) and FY28.
