Wednesday 24 Apr 2024
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KUALA LUMPUR (Oct 26): Kerjaya Prospek Group Bhd said a consortium comprising its unit and South Korea-based Samsung C&T Corp has bagged a contract from Texas Instruments Electronics Malaysia Sdn Bhd to build a factory in Melaka for RM1.45 billion.

This confirms The Edge weekly's report for the week of Oct 10-16, citing people with knowledge of the matter, that Kerjaya Prospek and Samsung C&T Corp are confident of securing their first joint project in Malaysia worth at least RM800 million this year after entering into a partnership in June.

In a filing with Bursa Malaysia on Wednesday (Oct 26), Kerjaya Prospek said the joint venture (JV) between its unit Kerjaya Prospek (M) Sdn Bhd (KPM) and Samsung C&T (KL) Sdn Bhd had received a letter of award to build and complete TIEM2 bump/probe/AT factory construction at Taman Perindustrian Batu Berendam, Free Trade Zone, Melaka.

Samsung C&T has a 70% stake in the JV, while KPM holds the remaining 30%.

Kerjaya Prospek said the project will commence on Nov 21, and be completed within 28 months.

It said the contract is expected to provide an additional stream of revenue for the group over the next two to three years.

Earlier, Kerjaya Prospek and Samsung C&T Corp announced that they will jointly explore large-scale construction contracts exceeding RM300 million in the country. The pact is effective for five years, with automatic renewal of one-year periods.

At the midday break on Wednesday, Kerjaya Prospek was unchanged at RM1.19, with 10,000 shares traded.

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