Kerjaya Prospek wins first TNB contract, deepens ties with ES Sunlogy

Kerjaya Prospek Group Bhd has secured its first Tenaga Nasional Bhd contract through a consortium for the Paka substation project in Terengganu, with an attributable value of RM142.1 million. The group also strengthened its collaboration with ES Sunlogy Bhd, awarding two Pulau Andaman subcontracts w

PETALING JAYA (Nov 5): Kerjaya Prospek Group Bhd is expanding beyond its core building construction business through its first Tenaga Nasional Bhd (TNB) contract and closer collaboration with ES Sunlogy Bhd, in which it holds a 31% stake. Its participation in the Paka substation project in Terengganu represents approximately RM142.1 million of the consortium's RM568.19 million award.

MBSB Research said the attributable contract value represents 2.4% of the group's existing order book but broadens its project portfolio beyond building works, Bernama reported on Oct 23. The research house estimated that the award would lift Kerjaya Prospek's outstanding order book to about RM6 billion and year-to-date contract wins to RM3.54 billion. External projects accounted for 60.7% of its contract wins for the year, compared with a nearly equal split between external and related-party projects in its outstanding order book, it said.

According to Bernama's report on Kerjaya Prospek's Bursa Malaysia filing on Thursday (Oct 22), wholly owned Kerjaya Prospek (M) Sdn Bhd is participating through an unincorporated joint venture with Jati Tinggi Holding Sdn Bhd and Betapac Sdn Bhd. Jati Tinggi Holding, a wholly owned subsidiary of Jati Tinggi Group Bhd, has a 55% participation, followed by Kerjaya Prospek (M) with 25% and Betapac with 20%. The consortium accepted TNB's letter of award that day, with completion required within 24 months of commencement.

Hong Leong Investment Bank Bhd (HLIB) said Kerjaya Prospek would undertake the core and shell works. Higher TNB capital expenditure, data centre developments and solar infrastructure investment would support further opportunities, Business Times reported on Wednesday (Nov 4).

The group's investment in ES Sunlogy provides another route into specialist engineering. Kerjaya Prospek invested about RM64.31 million between July and August to build its 31% interest in the mechanical and electrical (M&E) engineering and renewable energy company. The companies have collaborated since 2018 and are looking to jointly pursue mixed-use, industrial and infrastructure projects, Business Times reported on Oct 21.

Their latest disclosed dealings involve two Pulau Andaman subcontracts worth a combined RM25.07 million, awarded by Kerjaya Prospek (M) to ES Sunlogy's wholly owned Savelite Engineering Sdn Bhd. In a Bursa Malaysia announcement on Tuesday (Nov 3), ES Sunlogy said Savelite had accepted a RM19.87 million subcontract for electrical and extra-low-voltage works at Lot 854, Section 2, Bandar Tanjung Pinang, Pulau Andaman, Penang. The electrical package is for a serviced apartment development and is scheduled for completion on Dec 31, 2029. A separate RM5.2 million infrastructure subcontract involves five bridges in Pulau Andaman and is scheduled for completion on Aug 23, 2028, The Edge Malaysia reported.

ES Sunlogy classified the subcontracts as related-party transactions. Its shareholders approved a mandate covering dealings with the Kerjaya group at an extraordinary general meeting on Oct 21, Bernama reported. Separately, ES Sunlogy upgraded its high-voltage transmission licence to 275kV in 2025 and has secured a TNB substation project in Lembah Beringin, Selangor. It is targeting further grid-related work over the next two to three years, according to the Oct 21 report.

The expansion comes against a substantial electricity-network investment programme. TNB has RM42.82 billion in allowed capital expenditure under Regulatory Period 4 for 2025–2027, comprising RM26.55 billion in base expenditure and RM16.27 billion in contingent expenditure. In its analyst briefing dated Feb 27, 2026, TNB outlined regulated capital expenditure plans of approximately RM13 billion for 2026 and RM15 billion for 2027 to maintain security of supply, meet potential demand growth and facilitate the energy transition. MBSB Research also identified potential opportunities in larger data centre construction and engineering packages, alongside industrial and infrastructure works, within Kerjaya Prospek's approximately RM2 billion tender book.