KUALA LUMPUR (Feb 27) — Kerjaya Prospek Group Bhd is actively assessing new industrial park opportunities as part of its longer-term expansion strategy, moving beyond its proposed joint venture in Penang with a unit linked to the Retirement Fund Inc (KWAP).
Executive chairman Datuk Seri Tee Eng Ho said the group remains interested in developing large-scale industrial parks in strategic growth corridors, provided it can secure sizeable land parcels suitable for integrated planning. The company is currently in discussions with KWEST Sdn Bhd, the property arm of Retirement Fund Inc, regarding the proposed Batu Kawan Industrial Park. While specific details were not disclosed, management previously indicated that the project would be substantially larger than its typical residential developments.
Expanding Land Bank in Kuala Lumpur and Beyond
Beyond industrial initiatives, Kerjaya Prospek is also pursuing new land acquisitions in Kuala Lumpur, Penang and Johor to strengthen its property development pipeline.
In the Klang Valley, the group recently acquired three freehold parcels along Jalan Puchong in Kuala Lumpur, spanning approximately 7.4 acres for RM112.8 million. This strategic move enhances its presence within a well-established urban corridor, where connectivity and mature infrastructure continue to support demand for commercial property in KL and surrounding mixed-use developments.
As at end-December 2025, the group maintained a strong net cash position of RM358.7 million against minimal borrowings of RM18.3 million, providing ample financial flexibility for further acquisitions. Its total assets stood at RM2.07 billion compared with total liabilities of RM870 million.
Currently, Kerjaya Prospek holds about 89 acres of gross land bank earmarked for future projects in Penang — including Tanjung Bungah, Seberang Perai Tengah and Batu Kawan — as well as Jalan Puchong in Kuala Lumpur.
Construction Order Book Remains Healthy
For its construction division, the group is targeting RM2 billion in new contract wins for FY2026, slightly above the RM1.8 billion secured in FY2025. Management expects the majority of new jobs to originate from related parties such as Eastern & Oriental Bhd and Kerjaya Prospek Property Bhd.
As at Feb 26, 2026, its outstanding order book stood at RM4.4 billion, with related-party projects accounting for approximately 85%. Notable ongoing developments include Versa and The Lume in Penang, as well as Astrum Ampang in Kuala Lumpur.
Industrial Implications for Selangor and Klang Valley
Kerjaya Prospek’s interest in industrial park development reflects the growing structural demand for organised industrial ecosystems across Malaysia. Within the Klang Valley, similar trends continue to drive enquiries for industrial land in Selangor, particularly in well-established hubs such as Shah Alam, Subang and Puchong.
As more developers explore integrated industrial concepts, demand remains firm for industrial property in Subang area and factory in Puchong, where occupiers value accessibility to major highways, ports and urban labour pools. At the same time, expansion of industrial clusters often stimulates complementary demand for office space in Bukit Jalil and other strategic commercial nodes, especially among engineering firms, project managers and regional headquarters supporting industrial operations.
With a strong balance sheet, expanding land bank and growing interest in industrial-scale developments, Kerjaya Prospek’s next phase of growth could align closely with evolving demand patterns across Kuala Lumpur and Selangor’s industrial and commercial property markets.
Indonesia