Kerjaya Prospek secured a RM488.4 million contract for AVEA on Andaman Island, lifting year-to-date wins above target and strengthening earnings visibility through 2028.
Kerjaya Prospek Group Bhd has secured a RM488.4 million contract from Persada Mentari Sdn Bhd, an indirect subsidiary of E&O, to undertake the construction of AVEA, the second marina-edge residential development on Penang’s Andaman Island.
The project comprises two 46-storey serviced apartment towers and is scheduled to commence on 1 July 2026, with completion expected within 42 months. This latest award marks the group’s eighth contract win this year, pushing its cumulative job replenishment to RM2.1 billion, surpassing its original FY2026 target of RM2.0 billion.
Following the strong contract momentum, analysts have raised their FY2026 replenishment assumption to RM2.5 billion. Kerjaya Prospek’s outstanding order book now stands at RM5.0 billion, providing solid earnings visibility over the coming years. In response to the stronger outlook, FY2027 to FY2028 earnings forecasts were lifted by an average of 3.4%, while the stock’s target price was revised upward to RM3.30.
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