Kerjaya Prospek's Johor win boosts order book to RM4.6bil
Kenanga Research is positive on this sixth contract job win for financial year 2025 (FY25), which is Kerjaya Prospek's first non-related party win for the year.
"It has guided a 10 per cent profit after tax margin for this project. This win brings year-to-date contract wins to RM870.3 million, against our FY25 job replenishment assumption of RM1.8 billion.
"This formed 48 per cent of our target and 54 per cent of management's target. Its current total outstanding order book stands at RM4.6 billion, which will keep them busy for the next three years," it said in a note.
Kerjaya Prospek's subsidiary Kerjaya Prospek (M) Sdn Bhd has secured a RM162 million building contract in Johor Baru from Majestic Gen Sdn Bhd.
The contract involves main building works for Gen Rise, a 47-storey transit-oriented serviced apartment development located near customs, immigration and quarantine and the Bukit Chagar rapid transit system.
Additionally, Kerjaya Prospek has set a job replenishment target of RM1.6 billion for FY25, backed by a RM2 billion tender book for building jobs.
In addition, together with its joint venture partner Samsung, the company is tendering for three data centre jobs worth RM3 billion with targeted outcomes by the third quarter of 2025.
"Its related party company E&O plans to launch projects with building jobs worth RM2 billion in 2025. For its property development segment, its 55 per cent-owned Rivanis will sustain its construction and property earnings in the next seven years," it added.
Kenanga Research maintained its 'Outperform' call on the stock with an unchanged target price of RM2.10.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
4 hours ago
- New Straits Times
Malaysia glove demand to rebound in 2H25
KUALA LUMPUR: Malaysia's glove sector demand is expected to rebound in the second half of 2025 (2H25) due to current low inventory levels, said Kenanga Research. The firm said that following slower inventory movement in 1H25 due to the front-loading effects of US customers purchasing from Chinese makers, this could spark a sudden surge in orders. It believes the current concern of Chinese glove makers further lowering average selling prices (ASPs) is overplayed, since the current ASPs of US$15 to US$17 per 1,000 pieces are higher than the previous down-cycle ASP of US$13 per 1,000 pieces. "Anecdotal evidence suggests that despite the impact of tariff-related disruptions, there is only so long customers can hold off making purchases. "If past history is any guide, based on previous down-cycles, Malaysian glove makers' stock prices will start to re-rate once the ASP concerns subside, and demand starts flowing back to Malaysian glove makers," it said. Meanwhile, Kenanga Research said the EU decision and US tariff on Chinese glove makers could benefit Malaysian glove makers. The firm said the potential increase in demand would be an added boost for local glove players on top of expected expansion in the US rubber-glove market. Assuming both EU and US orders flow back to Malaysian glove makers gradually in 2H25, the firm said Malaysia could see an aggregate of 70 billion pieces – 35 billion from the EU and 35 billion from the US. Overall, Kenanga Research has maintained an "Overweight" rating on the sector. It said Malaysian glove stocks are trading at deep value levels, pricing them close to the worst of the down-cycle. "The glove sector under our coverage is currently trading at negative two standard deviations below its historical one-year forward average. "While earnings may remain weak in the near term, structural demand and supply rationalisation offer long-term upside. "We prefer selective exposure to quality names like Hartalega Holdings Bhd and Kossan Rubber Industries Bhd," it added.
The Star
8 hours ago
- The Star
10 years of MSME growth
Through Shopee, Kerpok Mfaizz in Terengganu has expanded nationwide, providing jobs for 25 locals and fulfilling over 100,000 orders. TEN years ago, selling online in Malaysia was something only a few could manage, mostly businesses with time, capital, and technical know-how. Setting up an online store meant building a website, sorting out payment systems, and managing deliveries – a tall order for most small traders. Today, tens of thousands of Malaysians run online shops, earn side income, or build fullfledged businesses – often with nothing more than a smartphone. One of them is Emilhan Mokhtar, founder of KitaShop Sabah, a homegrown brand specialising in Sabah pearl accessories. With a working capital of just RM2,000, he purchased brooches made with Sabahan freshwater pearls and listed them for sale on Shopee. Since then, he has generated over RM1.3mil in sales, hired a growing team, and expanded into a larger storefront in Wisma Sabah. Emilhan believes that e-commerce can create more demand for brooches made of Sabah freshwater pearls, especially when it gives sellers the ability to interact with interested users and potential buyers in real-time. 'Over the last few years, we have noticed that a customer may spend at least three times more during a Shopee Live session compared to buying normally from our Shopee store. 'We believe that they feel more confident with the product quality when they can see it live,' he added. Saovanee said it's been rewarding to see small businesses grow and make an impact in their communities. As Shopee celebrates its 10th anniversary in Malaysia this year, it marks a decade of empowering micro, small, and medium enterprises (MSMEs) through advanced technology, comprehensive training, and innovative tools, all of which contribute to the continued growth of Malaysia's digital economy. 'When Shopee first started, we set out a simple goal of making online buying and selling easier for everyday Malaysians,' said Shopee Malaysia's country director Saovanee Chan-Somchit. 'Malaysian sellers then had very few options if they wanted to sell online. Moreover, buyers were still reluctant to buy online due to uncertainties such as transaction safety, timeliness, reliability, and the reach of deliveries. 'From the very beginning, we wanted to make sure we are creating a safe, reliable, and simple platform where consumers could shop confidently and small businesses could get their start.' Muhammad Faizz, the owner of Kerpok Mfaizz in Besut, Terengganu, is able to reach a broader customer base and scale his business. His story reflects a growing trend where traditionally offline products, like keropok lekor, are now being sold and delivered nationwide through e-commerce. 'Thanks to Shopee, our keropok lekor is now reaching customers in Selangor and Johor, something we never thought possible. 'With this expanded reach, I've been able to build my own home and provide jobs for 25 local workers.' Since joining Shopee, Faizz has fulfilled over 100,000 orders, averaging approximately 100 orders per day. Shopee's logistics network, backed by local partnerships, has enabled him to handle larger volumes while ensuring timely deliveries nationwide. 'Shopee has given me financial stability that I couldn't achieve relying only on local customers. Now, our business is thriving as we deliver across the country,' he added. Shopee recognised early on that for digital commerce to truly take root, it needed to build an ecosystem that would equip and empower sellers, especially those with little to no online experience. That effort began with onboarding support for new sellers, followed by the rollout of Shopee University — a free training and resource for sellers offering in-person workshops, online modules, and live coaching sessions. Over the past decade, Shopee has conducted over 2.5 million hours of training, helping sellers gain essential skills in customer service, branding, data analysis and marketing. 'We knew that helping sellers embrace technology would be just as important as providing the platform itself,' said Saovanee. 'Many were unfamiliar with selling online. Some didn't even know how to upload a product listing or even the basics of taking product images that would appeal to buyers. 'That's why we focused on building programmes that guide them step by step, starting from where they are, and growing with them over time.' Today, sellers who complete Shopee's training are significantly more likely to hit monthly sales milestones. Shopee has also enlisted its most experienced sellers to support their peers, introducing initiatives like ShopeeXperts, which trains top performers to become certified trainers for others on the platform. This peer-to-peer approach has helped strengthen community learning and created a network of support that extends across seller categories. In states such as Sabah, Sarawak, Kelantan, and Perlis, the platform has collaborated with local councils and community groups to bring training and seller support closer to those operating in more remote areas that have been previously underserved. 'Over the past decade, our investment in Malaysia-specific seller initiatives, from launching new seller features to targeted projects in underserved states, enabled us to help millions of Malaysian MSMEs go online for the first time,' Saovanee added. 'It's been deeply rewarding to watch these small businesses grow, and to witness the impact they've made in their communities.' Shopee has helped onboard almost two million MSMEs in Malaysia over the past decade, with more sellers being onboarded from nearly all states. Many of them began selling part-time before eventually turning their side hustle into a primary source of income. These MSMEs have collectively generated over RM154bil in Gross Merchandise Value (GMV) on the platform over the past ten years. Thousands of sellers have also expanded beyond local borders, exporting their products through Shopee's regional network, with nearly four million items already shipped to overseas customers since Shopee Malaysia launched its export initiatives last year. Connecting Malaysian sellers to markets such as Thailand, the Philippines, and Singapore, more businesses are able to build their international presence supported by initiatives like the Shopee International Platform (SIP) and the MY-SG Direct programme. Building on this momentum, Shopee plans to expand its cross-border capabilities across South-East Asia further. As Shopee enters its second decade, its focus remains firmly on innovation that supports the growth of local businesses, from building tools, programmes, and experiences that help sellers thrive in an increasingly dynamic digital landscape. The platform is actively developing new seller solutions, including fulfilment warehouses across East and West Malaysia, AI-generated tools to ease image and video generation for sellers' listings, auto-translation to BM for product descriptions, a Chat AI Assistant for 24/7 response to buyers, and a digital relationship manager to provide all sellers a personalised touchpoint for commercial enquiries, all designed to help sellers optimise performance and reach the right audiences, maximising their growth potential. 'Our teams are constantly testing and exploring new technologies not for the sake of innovation, but to solve real challenges for real sellers,' said Saovanee. 'We want to make it easier for them to sell smarter, not harder, especially for first-time sellers who may be just starting.' While much progress has been made over the past decade, Shopee acknowledges that the work is far from over. Strengthening Malaysia's online retail ecosystem, deepening e-commerce adoption, and contributing to the broader digital economy remain ongoing priorities. As the platform scales to support these goals, its focus remains rooted in the mission it started with. 'We want to be a partner that sellers can grow with through every stage of their journey,' she added. 'At the heart of it, it's always been about using technology to make lives better for buyers, for sellers, for communities. That commitment hasn't changed.' CLICK TO ENLARGE
The Star
9 hours ago
- The Star
Plenty of opportunities at Johor job fair
JOHOR BARU: With resumes in hand and hope in their hearts, job seekers are making their way to the myStarJob Fair 2025, currently held at Persada International Convention Centre here. The event has attracted a steady stream of visitors eager to explore job opportunities, receive career advice, and access professional development resources since its opening yesterday. The two-day event, which ends today, features 16 companies and agencies representing a diverse range of industries. In addition to job openings from entry-level to managerial positions, the fair also offers on-the-spot interviews, career talks and skills enhancement sessions designed to support personal growth and employment readiness. Among the key exhibitors are Prudential BSN Takaful Bhd, Eco-Shop Marketing Berhad, and UMW Toyota Motor. Prudential BSN Takaful Bhd's recruitment head Ahmad Firdaus Ab Halim urged the public, especially job seekers, to visit its booth to learn more about the takaful industry. 'We are always looking for takaful consultants, and we have a support programme called the Elite Development Programme (EDP), which is designed to develop and groom young, emerging talents to succeed as wealth planners and future leaders, regardless of their background. It is open to those aged between 20 and 55. 'Our consultants can benefit from monthly financing between RM2,000 and RM5,000, as well as other rewards, including overseas trips to destinations such as Zurich, Istanbul, Surabaya and even for Umrah,' he said, adding that the minimum educational requirement is a SPM certificate. As a Platinum Sponsor of the event, Prudential BSN was presented with a certificate of recognition by Star Media Group senior manager (events and exhibitions) Elaine Wong. Hopeful possibilities: Job seekers making inquiries during the myStarJob Fair 2025 being held at the Persada International Convention Centre in Johor Baru. — THOMAS YONG/The Star Eco-Shop Marketing Berhad was also acknowledged as the event's Bronze Sponsor, with the certificate received on behalf of the company by its staffing solutions manager, Natalie Lim. Lim said the myStarJob Fair 2025 was the company's first participation in a job fair held in Johor Baru, a city that has seen strong economic growth in recent years. 'As a public-listed company, our target is to open 70 stores annually, and I would say that Johor Baru is one of the key areas we are looking to expand into. 'Currently, we have a total of 378 stores nationwide with almost 9,000 employees. As we plan to open more stores, we need more people to join our workforce.' Another exhibitor, Prasarana Malaysia Bhd, has also drawn attention from visitors. Its engineering department assistant engineer, Muhammad Mirzan Ruzi, said the company has received a positive response from candidates at the fair. 'We are seeing interest from job seekers who want to join us, as we are looking for more manpower for the Rapid Transit System (RTS) Link project. 'The chances for job seekers, particularly locals, are quite high as we have many positions to fill for the RTS Link project, which connects Johor Baru and Singapore,' he added. Meanwhile, Mohd Rifqi Hanafi Mohd Shah, 31, said he learned about the myStarJob Fair 2025 through social media and is hopeful about finding employment. 'I was laid off in early May this year. I decided to come to the myStarJob Fair 2025 to submit my resume to companies. Technician Mohd Mukhriz Azamuddin Husni, 29, who has been working with an engineering company in Pasir Gudang for the past five years, is also exploring new opportunities. 'One of the exhibitors at the fair is a Singapore-based oil and gas company. I want to submit my resume and hopefully get an offer. 'Due to the favourable currency exchange, working across the Causeway is attractive for me, especially as I have a growing family,' he said. Organised by Star Media Group, admission to the event is free from 11am to 6pm.
