The Board of Directors of Kerjaya Prospek Group Berhad ("Company") is pleased to announce that its wholly-owned subsidiary company, Kerjaya Prospek (M) Sdn. Bhd. ("KPSB"), has on 19 July 2016 accepted a letter of award (“LA”) from Apple 99 Development Sdn. Bhd. (“A99DSB”) at the total contract sum of Ringgit Malaysia Two Hundred Thirteen Million And Seven Hundred Fifty Thousand only (RM213,750,000.00) ("Contract").

The Contract is for the main building works for the proposed mixed development project comprising, inter-alia, a sixteen (16) storey hotel building with 284 rooms known as “Courtyard by Marriott”, a thirty-two (32) storey service suite building with 361 units of service apartments and an eight (8) storey podium of car park on Lot No. 2005 held under Master Title Number GRN 45957, Kawasan Bandar XXI, District of Melaka Tengah, State of Melaka, which is a joint venture development project between Yong Tai Berhad and A99DSB.

The construction works to be undertaken by KPSB under the LA is expected to commence on 1 August 2016 (“Date of Commencement”) and due to be completed on 31 October 2018, being twenty-seven (27) months from the Date of Commencement.    

The Contract will further increase and enhance the existing order book of the Company and its group of companies ("Group").

The Contract will have no effect on the issued and paid-up capital of the Company but it is expected to contribute positively to the earnings and net assets per share of the Company and the Group for the financial years ending 2016 to 2018.

None of the directors and/or major shareholders of the Company or persons connected to them have any interest, direct or indirect, in the Contract.

This announcement is dated 19 July 2016.