PETALING JAYA: Potential job wins and lean cost measures, underpinned by efficient construction methods, are expected to support Kerjaya Prospek Group’s earnings growth going forward.
RHB Research said the construction company can expect upcoming job wins from its partnership with Samsung C&T and future developments at Seri Tanjung Phase 2, apart from the remaining components in the group’s Bukit Bintang City Centre (BBCC) project.
Kerjaya has won four job awards from BBCC Development to date.
“This amounts to more than RM500mil (between 2018 and 2023). The latest job award, on Jan 30, 2023, is worth RM135.4mil for the construction of SWNK Houze, a 31-storey serviced apartment.
Other related jobs include Lucentia Residences, the Malaysia Grand Bazaar and SR Tower.
“Upcoming jobs at BBCC may come from the remaining floors of a residential suite and office tower, which may be in the range of RM50mil to RM100mil, in our view, an office tower and another serviced residence tower,” said RHB Research in a report yesterday.
The research house added the remaining office tower, and the serviced residences tower shares the same podium with the group’s ongoing projects, namely the SWNK Houze and the ongoing serviced residences tower. As such, this will increase Kerjaya’s chances of winning the remaining jobs.
“We believe Kerjaya winning the job award for the 80-storey BBCC signature tower would be a positive surprise,” said RHB Research.
