Kimlun secures RM148.5m property project in Shah Alam

KUALA LUMPUR: Kimlun Corporation Bhd has secured a RM148.54mil contract to build the apartments and ancillary buildings in Shah Alam.

It said on Friday its unit, Kimlun Sdn Bhd had accepted the letter of award from Esquire Corner Sdn Bhd for the project.

Work is expected to be completed by September 2014.

Kimlun to move higher

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Kimlun Corp unit wins RM48m MRT job

Kimlun Corporation Bhd's wholly-owned subsidiary, SPC Industries Sdn Bhd, has secured a RM48.487 million contract to manufacture, supply and deliver precast tunnel segment linings (TLS) to the Mass Rapid Transit Lembah Klang:Jajaran Sungai Buloh-Kajang project.

The supply of TLS is expected to spread over 24 months, the company said in a filing to Bursa Malaysia.

It does not foresee any exceptional risk other than operational risks associated with the supply contract.

The supply contract is expected to contribute positively to the earnings and net assets of the Kimlun Group for the financial years during the supply period. -- BERNAMA

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Kenanga Research maintains Outperform on Kimlun, TP RM1.77
KUALA LUMPUR: Kenanga Investment Bank Research is maintaining its Outperform on Kimlun with a target price of RM1.77
It said on Friday that was an attractive upside of 20% to its TP of RM1.77.
“We maintain our TP of RM1.77 based on 8.0 times price-to-earnings ratio (PER) on its FY13E EPS of 24.7sen,” it said.
On Thursday, Kimlun announced that MMC-Gamuda KVMRT (T) Sdn Bhd
accepted its offer to manufacture, supply and deliver precast concrete
tunnel lining segments (TLS) for the Sungai Buloh-Kajang MRT line for
RM48mil.
Kenanga Research said it was neutral on this news as
the contract award has already been factored in as part of its
additional order book replenishment assumption of RM200mil for FY12.
The research house added the delivery of TLS will take place in Q1, 2013 when the initial MRT tunnelling work starts operation.
This
timeline is also in line with the completion of Kimlun's new plant in
Seremban for precast production, said the research house.

note: since our last coverage above, stock has moved lower

i rather focus on better dollar stocks

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