Kuala Lumpur: Kerjaya Prospek Group Bhd has reported a net profit of RM46.07 million for the first quarter ended March 31, 2025, marking an increase from the RM33.55 million recorded in the same period last year.
According to BERNAMA News Agency, the company’s revenue also saw a rise, reaching RM471.98 million compared to RM337.14 million previously. This growth is attributed to improved progress in construction activities and positive contributions from ongoing property development projects, as stated in a filing with Bursa Malaysia.
Chief executive officer and executive director Tee Eng Tiong expressed satisfaction with the company’s financial performance. He noted that the results reflect the company’s commitment to achieving breakthroughs across its business segments. Tee also mentioned that the company is on track to meet its full-year new contract wins target of RM1.6 billion, having already secured more than half of it. Kerjaya Prospek remains actively involved in tendering for more construction projects to enhance market competitiveness and diversify its portfolio.
Additionally, Tee discussed the proposed acquisition of a 49.0 per cent equity interest in Aspen Vision Land Sdn Bhd. He emphasized that this move would position Kerjaya Prospek as the contractor for construction works and allow the company to benefit from the potential upside of the Aspen Vision City development in Batu Kawan, Penang. He believes this investment will significantly enhance and complement the growth of the company’s property development segment.
During a press conference following the results release, Kerjaya Prospek’s non-independent non-executive chairman Datuk Seri Tee Eng Ho addressed concerns about the recently announced US tariffs. He mentioned that the company is closely monitoring the situation but has not yet experienced a significant impact. Some materials, like steel, might even be more affordable from sources such as Brazil. However, the company remains cautious and is prepared for potential supply chain tightening if global demand surges.
Eng Ho also highlighted that many materials are sourced from factories in South Korea, and any disruption there could affect the company’s cost structure. While there is no immediate cause for concern, Kerjaya Prospek is proactively monitoring the market, especially with potential volatility in input prices due to geopolitical or trade shifts.
Kerjaya Prospek has declared a first interim single-tier dividend of 3.0 sen per share, amounting to RM37.8 million or 82.0 per cent of its net profit, which will be payable on June 30, 2025.