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Hot Stock Kimlun gains 4% on contract win
by Cals Thu 27 Jun 2013, 16:17
| [b style="color: rgb(255, 0, 0); font-weight: bold;"]Hot Stock[/b] Kimlun gains 4% on contract win |
| Business & Markets 2013 |
| Written by Shalini Kumar of theedgemalaysia.com |
| Thursday, 27 June 2013 15:00 |
KUALA LUMPUR (June 27): Kimlun Corp Bhd saw a rise in its share price during the afternoon trading session, on the back of its wholly-owned unit, SPC Industries Sdn Bhd, winning a SG$17.1 million supply and delivery contract from SK Engineering & CONSTRUCTION [].
At 2.37 pm, Kimlun was trading at RM2.05, up 8 sen or 4%, on a thinvolume of 19,600 shares.
Yesterday, Kimlun announced that SPC Industries Sdn Bhd would be supplying and delivering precast concrete tunnel segment linings to the East-West Transmission Cable Tunnel Project EW2 in Singapore.
The supply of the tunnel linings is expected to spread over a period of approximately 33 months.
"The company does not foresee any exceptional risk other than operational risks associated with the supply contract," said Kimlun in its filing.
"The supply contract is expected to contribute positively to the earnings and net assets to the Kimlun group for the financial years during the supply period," it added.
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