Malaysia based construction firm invests RM88mil in aluminium form work system

<p>Kerjaya Prospek Group Bhd, a Malaysia-based company engaged in&nbsp;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&nbsp;uses the IBS that allows the company to reduce error, cut down on labour costs and cash purchase of building materials.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/p4a.jpg" alt="news" width="416" height="336" /></p> <p>The company&rsquo;s executive chairman Datuk Tee Eng Ho said, &ldquo;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&rdquo;</p> <p>&ldquo;Thus this year capex is much lower at a little bit more than RM20mil as we have invested heavily last year.&rdquo;</p> <p>Kerjaya Prospek Group Bhd&nbsp;is now expecting to achieve the orderbook target of RM800mil in 2017. The company has won the bid for two contracts worth RM284mil.</p> <p>{googleAdsense}</p> <p>Datuk Tee Eng Ho said, &ldquo;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.&rdquo;</p> <p>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.</p>