Malaysia based construction firm invests RM88mil in aluminium form work system

Kerjaya Prospek Group Bhd, a Malaysia-based company engaged in building construction and supplier and installer of aluminium and glazing works, has spent around RM88mil in industrialised building system (IBS) aluminium form work system for faster construction process. Kerjaya Prospek uses the IBS that allows the company to reduce error, cut down on labour costs and cash purchase of building materials.

The company’s executive chairman Datuk Tee Eng Ho said, “Usually we could build one storey per week and the aluminium formwork could be reused for the period of five years. I am sure that will make us an attractive to many property developers”

“Thus this year capex is much lower at a little bit more than RM20mil as we have invested heavily last year.”

Kerjaya Prospek Group Bhd is now expecting to achieve the orderbook target of RM800mil in 2017. The company has won the bid for two contracts worth RM284mil.

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Datuk Tee Eng Ho said, “Currently, our tenderbook stands at RM1.8bil and we usually chart about 20% success rate. As for our overall outstanding orderbook, it is currently at RM2.6bil that carries earnings visibility up to 2020.”

The company registered a 22.36 per cent rise in net profit to RM29mil for the first quarter ended March 31 and the revenue for the quarter under review was 25.44 per cent higher at RM233.2mil.