Kerjaya Prospek Group Berhad announced that its wholly-owned subsidiary, Future Rock Sdn. Bhd. has received and accepted a letter of award from Tanjung Pinang Development Sdn. Bhd. in respect of the execution and completion of reclamation and dredging works worth RM 567 million.
The job order is for the reclamation work at Seri Tanjung Pinang (Phase 2B & 2C) development (STP2) Penang, TPD is an indirect subsidiary company of Eastern & Oriental Berhad.
Kerjaya has also noted that certain Directors and major shareholders of the Company have direct and indirect interests.
The Contract it to commence on 1 July 2024 and to be completed within forty (40) months from the commencement date.
The group said the acceptance of the contract is in the ordinary course of business of FRSB and is undertaken on an arm’s length basis, based on normal commercial terms which are not more favourable than those generally available to the public. In addition, the Contract is expected to provide an additional stream of revenue for the Group over the next four (4) year.
