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KLSE: KIMLUN       KIMLUN CORPORATION BERHAD
Last Price Avg Target Price   Upside/Downside Price Call
2.25 2.49     +0.24 (10.67%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
29/12/2017 2.28 2.27 -0.01 (0.44%) HOLD KENANGA Price Target News
21/12/2017 2.25 2.27 +0.02 (0.89%) HOLD KENANGA Price Target News
21/12/2017 2.25 2.65 +0.40 (17.78%) BUY HLG Price Target News
30/11/2017 2.30 2.40 +0.10 (4.35%) HOLD Malacca Securities Price Target News
30/11/2017 2.30 2.27 -0.03 (1.30%) HOLD KENANGA Price Target News
30/11/2017 2.30 2.64 +0.34 (14.78%) BUY AMMB Price Target News
02/10/2017 2.23 2.27 +0.04 (1.79%) HOLD KENANGA Price Target News
29/09/2017 2.19 2.27 +0.08 (3.65%) HOLD KENANGA Price Target News
29/09/2017 2.19 2.70 +0.51 (23.29%) BUY HLG Price Target News
29/09/2017 2.19 2.76 +0.57 (26.03%) BUY AMMB Price Target News
25/09/2017 2.20 2.30 +0.10 (4.55%) HOLD HLG Price Target News
18/09/2017 2.16 2.30 +0.14 (6.48%) HOLD Malacca Securities Price Target News
18/09/2017 2.16 2.27 +0.11 (5.09%) HOLD KENANGA Price Target News
18/09/2017 2.16 2.30 +0.14 (6.48%) HOLD HLG Price Target News
18/09/2017 2.16 2.76 +0.60 (27.78%) BUY AMMB Price Target News
30/08/2017 2.14 2.30 +0.16 (7.48%) HOLD Malacca Securities Price Target News
30/08/2017 2.14 2.27 +0.13 (6.07%) HOLD KENANGA Price Target News
30/08/2017 2.14 2.30 +0.16 (7.48%) HOLD HLG Price Target News
30/08/2017 2.14 2.61 +0.47 (21.96%) BUY AMMB Price Target News
29/08/2017 2.14 2.30 +0.16 (7.48%) HOLD MAYBANK Price Target News


Price Target Research Article/News (past 6 months)
29/12/2017  KENANGA Kimlun Corporation - Two New Pieces of Pocket Land
21/12/2017  KENANGA Kimlun Corporation - Acquisition of Iskandar Land
21/12/2017  HLG Kimlun Corporation - Snaps Up Iskandar Land
30/11/2017  Malacca Securities Kimlun Corporation Bhd - Earnings Sapped By Higher Cost
30/11/2017  KENANGA Kimlun Corporation - 9M17 Below Expectations
30/11/2017  AMMB Kimlun Corporation - 9MFY17 net profit declines 23% YoY
02/10/2017  KENANGA Kimlun Corporation - Progressing as Expected
29/09/2017  KENANGA Kimlun Corporation - Progressing as Expected
29/09/2017  HLG Kimlun Corp - Bullish on Contract Outlook
29/09/2017  AMMB Kimlun Corporation - Strong order backlog to sustain earnings
25/09/2017  HLG Kimlun Corporation - Wins Building Contract
18/09/2017  Malacca Securities Mplus Market Pulse - 18 Sept 2017
18/09/2017  KENANGA Kimlun Corporation - New Building Job
18/09/2017  HLG Kimlun Corporation - Wins Building Contract
18/09/2017  AMMB Kimlun Corp - Lands RM215mil building job in Selangor
30/08/2017  Malacca Securities Kimlun-Corporation-Bhd - Looking To 2018
30/08/2017  KENANGA KIMLUN - 1H17 Broadly Within
30/08/2017  HLG Kimlun Corporation - Coming in Slightly Below
30/08/2017  AMMB Kimlun Corp - 1HFY17 net profit declines 27% YoY
29/08/2017  MAYBANK Kimlun - Below Expectations



  9 people like this.
 
HuatRex Kimlun long term is positive, not to worry too much
31/05/2017 10:55
gnimalu23 AmInvestment Research is retaining its Buy call for construction based for Kimlun with fair value (FV) of RM2.61 after the release of its first quarter results ended March 31, 2017.
31/05/2017 11:50
4444 Revenue, profit drop so much? Below RM 2 safer.
02/06/2017 02:05
4444 People order books keep growing why Kam Lan OB lesser and lesser?
02/06/2017 02:06
Patrick13 hopefully Who attends Kimlun AGM can share some news here, thanks.
13/06/2017 14:51
fool5491 What's happening
13/06/2017 16:37
Patrick13 8/8/17 is payment date of final dividend.
22/06/2017 21:09
cheap1 If read latest QR revenue has dropped YOY. To maintain Kim Lun(KL) share price, every year KL must win about RM 700 million worth of contracts. Is it easy with so many construction companies eyeing same pie of jobs?
29/06/2017 05:24
cheap1 Director Kek Chin Wu(latest director filing) disposed at 2.06. Meaning Kim Lun overpriced?
https://klse.i3investor.com/servlets/stk/5657.jsp
29/06/2017 05:24
cheap1 RM 1.2 safer. I think Mr Pang Tin also agree.
https://klse.i3investor.com/servlets/stk/annchdr/5171.jsp
29/06/2017 05:27
Patrick13 Kimlun Corp is a must-own construction stock, given its exposure to the MYR80bn Klang Valley Mass Rapid Transit (MRT) project and recently-secured Pan Borneo Highway project. Kimlun is also aggressively tendering for various infrastructure projects and low-rise developments, which should improve overall margins if secured.

RHB TP: RM2.57
05/07/2017 12:07
Evolution4 cheap1 , u try wait and see when it can reach Rm1.2, it wont happen, at least at near term, i am confident it will hit 2.50 if the coming result is good
19/07/2017 23:17
Myeye ~.~
20/07/2017 16:40
Parttimer wth happened this morning???????????
24/07/2017 09:44
Bizfuneng Kimlun.....it is bouncing within this range for past few months. Where go move?
27/07/2017 23:46
luckyman AllianceDBS' target price for Kimlun: RM3.06

http://www.bursamalaysia.com/market/listed-companies/research-repository/research-reports/#/?counter=5171&cbrs=all&leap=all
15/08/2017 21:52
Myeye ~.~
21/08/2017 09:07
Patrick13 http://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=5171
29/08/2017 17:52
Patrick13 Revenue, profit and EPS all dropped. But GP/PBT/PAT margin still can maintain. That's mean the management do a good job on that. With the construction order on hand of RM1.98 billion and manufacturing order on hand of 320 million, it shall be enough for the Group to busy in next 2-3 years. Despite construction & manufacturing is softening growth this FY, but surprise that property development is able to contribute profit which higher than last 2 years.
29/08/2017 17:58
luckyman Prospects For 2017 (Extract from its latest quarterly report)

The Group has an estimated construction and manufacturing balance order book of approximately
RM1.98 billion and RM0.32 billion respectively as at 30 June 2017, contributed by numerous
construction contracts and supply contracts. The balance order book provides a good earnings
visibility to the Group and is expected to keep the Group busy for the next 2 years.

The Board is optimistic that the construction sector of Malaysia and Singapore will continue to be
vibrant in 2017, thus offer order book replenishment prospects.
29/08/2017 18:06
ks55 Very transparent report.
High profit visibility for next quarter.
I like it.

You should be expecting double digit increase in profit next quarter.......
29/08/2017 20:17
Patrick13 The completed Hyve SOHO and offices development in Cyberjaya, Selangor, and the Taman Puteri
residential development in Pekan Nenas, Johor, with total unsold stocks worth RM47 million will
continue to contribute to the Group’s revenue in 2017 with further sales. There is no other on-going
development carry out by the Group on its land bank totalling 155 acres.

Assuming property development profit margin at least 10%, that's mean this RM47 million can contribute about RM4.7 million pre-tax profit in next 2 quarters.
30/08/2017 13:42
Red_Apollo Why now RM 2.14 and not 2.5?

Evolution4 cheap1 , u try wait and see when it can reach Rm1.2, it wont happen, at least at near term, i am confident it will hit 2.50 if the coming result is good
19/07/2017 23:17
04/09/2017 03:09
Red_Apollo Why IBs' TP adjust lower and lower? Very low standard analysis.
http://klse.i3investor.com/servlets/ptg/5171.jsp
04/09/2017 03:11
Evolution4 lol red apollo, my target price havent hit, but that psycho said 1.20 is reasonable price, lol is that gonna be realise in near term?
07/09/2017 19:24
Patrick13 http://www.malaysiastock.biz/Company-Announcement.aspx?id=1000168
15/09/2017 17:58
luckyman http://klse.i3investor.com/blogs/MplusOnline/131319.jsp
http://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=11602

All in all, its construction orderbook => RM 2.2 Bil ????
15/09/2017 20:54
Patrick13 Let's me summarise contracts won in FY2016 and FY2017 so far:
10/3/16 - RM1,461 mil (Pan Borneo, target completed by Mar 2020)
29/3/16 - RM200 mil (SBG MRT2, target completed by Nov 2019)
27/4/16 - RM98 mil (housing construction in Plentong, target completed by Jul 2018)
23/5/16 - RM166 mil (5 blocks construction in Petalling, target completed by Apr 2019)
29/11/16 - RM53 mil (tunnel segment linings for MRT2, target completed by Sep 2019)
Total new orders replenished in FY2016 = RM1,978 mil

8/5/17 - RM263 mil (MBJB construction in JB, target completed by Oct 2019)
15/9/17 - RM215 mil (2 blocks of condo construction in Plentong, target completed by Jun 2020)
Total new orders replenished so far in FY2017: RM478 mil

If further breakdown by year:
FY2018: RM98 mil
FY2019: RM682 mil
FY2020: RM1,676 mil
3 years total contracts contribution: RM2,456 mil~

And there's still have 4 months plus in FY2017 to allow Kimlun further replenish the new orders within RM600-800 mil annual target.
15/09/2017 22:51
Red_Apollo 2017 new orders way too low. Enough for 2 quarters revenue. Meaning pay employees 2 qtr out of 4 qtrs a year?

8/5/17 - RM263 mil (MBJB construction in JB, target completed by Oct 2019)
15/9/17 - RM215 mil (2 blocks of condo construction in Plentong, target completed by Jun 2020)
Total new orders replenished so far in FY2017: RM478 mil
17/09/2017 16:01
Red_Apollo Poor new orders reflected in this year QR. Below RM 2 coming?
https://klse.i3investor.com/servlets/stk/fin/5171.jsp
17/09/2017 16:09
Patrick13 http://www.thestar.com.my/business/business-news/2017/09/18/aminvest-research-ups-kimlun-fair-value-to-rm2pt76/
18/09/2017 13:10
Patrick13 Based on Bursa announcement, they officially published 2 contracts been awarded totalling RM477.8.m so far in FY2017. However Aminvestment Research said that Kimlun YTD construction jobs win to RM820m, surpass annual target of RM700m for FY2017.
18/09/2017 13:34
Patrick13 http://www.theedgemarkets.com/article/mah-sing-gets-kimlun-build-connecting-road-%C2%A0meridin-east-highway
28/09/2017 16:29
Patrick13 Another RM50 million building contract begged from Mah Sing group.
28/09/2017 16:30
Whey Whey 目标价:2.70令吉
最新进展:

金轮企业(KIMLUN,5171,主板建筑股)获马星集团(MAHSING,8583,主板产业股)颁发总值5000万令吉的合约,在柔佛建道路立交桥,衔接丹绒朗刹与士乃-迪沙鲁大道的查哈亚峇鲁收费站交流道。

这项工程将在明年首季动工,预计2020年竣工。这条衔接道路距离马星集团的Meridin East项目仅1公里。

行家建议:

加上这最新的柔佛道路工程,金轮企业今年至今已经赢得10亿令吉,超越原本6亿至7亿令吉的全年目标。

截至今年中,订单规模达23亿令吉,其中20亿令吉是建筑合约,另3亿2000万令吉则是制造业。这已经是2016财年营业额的2.5倍,相当强劲。

管理层指出,无法获得轻快铁第三路线的配套合约,但有意从制造层面参与该项目,即供应分段箱梁和其他预制产品。

同时,金轮企业也看好全国大选后的合约释出动向,包括东海岸铁路和隆新高铁等大型铁路项目,有意参与建筑和制造方面的竞标。

此外,公司也放眼借助工业化建造系统(IBS)的专业,取得5亿令吉的可负担房屋项目。

虽然我们预计今年净利将下跌16%,但看好强劲的合约将可激励明年业绩复苏,因此将评级从“守住”上调至“买入”
30/09/2017 17:48
Patrick13 http://www.malaysiastock.biz/Company-Announcement.aspx?id=1006040

Incorporation of new subsidiary
12/10/2017 17:22
BigThinkers How come so low volume on KimLun....
18/10/2017 11:14
Patrick13 Get used to it. Kimlun is very low profile counter.
25/10/2017 12:02
lai81533 target rm2.80
25/10/2017 17:43
luckyman We maintain our forecasts, FV of RM2.76 and BUY call, following an analyst briefing yesterday. Our FV is based on 12x FY18F FD EPS, in line with our 1-year forward target PE of 10-12x for small-cap construction stocks.

YTD, Kimlun’s construction division has bagged about RM0.9bil new jobs, boosting its balance order book to approximately RM2bil (including the RM50mil Tanjung Langsat–Cahaya Masai Toll connecting road contract awarded by Mah Sing announced yesterday). Kimlun believes it should end FY17F with total job wins of about RM1bil, vs. RM1.4bil it secured in FY16.

For FY18, Kimlun is mixed on the prospects of construction job wins. While it is confident of securing about RM500mil worth of government-funded affordable housing projects (such as PR1MA and Selangorku), it is cautious on the private property sector (given the still soft property market) and the public infrastructure sector (given the unpredictability of the actual timing of the rollout of key infrastructure projects including the East Coast Rail Link and KL-Singapore High-Speed Rail).

We have raised our assumption for construction job wins in FY17F to RM1bil (from RM900mil), which is offset by higher interest expenses arising from higher capex of RM60mil and RM30mil in FY17-18F as guided (vs. our assumption of RM15mil annually), largely to facilitate the execution of the RM1.46bil Pan Borneo Sarawak contract. For FY18-19F, we maintain our assumption for construction job wins at RM700mil annually.

Meanwhile, its manufacturing order backlog remains elevated at RM320mil (vs. RM260mil six months ago), underpinned largely by MRT2 orders comprising segmental box girders, tunnel lining segments and other pre-cast concrete products (with a total value of RM280mil), with the balance coming from recurring orders from various infrastructure projects in Singapore.

We project Kimlun's FD EPS to contract by 20.8% in FY17F from a high base a year ago (largely due to lumpy variation order claims recognised during the year). Its earnings growth momentum should resume in FY18F (+27.7%).

We continue to like Kimlun as it is a good proxy to the booming local construction sector given its involvement in the MRT2 (supply of precast concrete segments), Pan Borneo Highway and the construction of affordable housing. Kimlun's earnings profile has improved tremendously as it no longer relies solely on building jobs, but has expanded to infrastructure (Pan Borneo Highway). Similarly, its manufacturing unit has widened its product offering with the latest being rail sleepers and parapet walls.

AmInvest Research - 29 Sept 2017
05/11/2017 20:09
Lilylizz wow anything happen?
06/11/2017 17:35
HengHuatOng Long overdue spike.
06/11/2017 19:05
lai81533 target rm2.87
08/11/2017 21:54
lai81533 Hold
11/11/2017 21:38
Yu_and_Mee not so good choice
30/11/2017 23:17
HengHuatOng Thanks for the profitable ride. Signing off. Tq
05/12/2017 15:04
Patrick13 HLIB Research sees recovery for Kimlun in FY18

Hong Leong Investment Bank (HLIB) Research is retaining its Buy call for construction company Kimlun Corporation with a target price of RM2.65.

It said on Thursday although it forecasts earnings to decline by 22% this year, it is positive on a recovery in FY18 (+20%) underpinned by its strong job wins leading to a record high orderbook.

“Our TP of RM2.65 is based on an 11 times price-to-earnings (P/E) multiple ascribed to FY18 earnings (mean: 12 times),” it said.

On Wednesday, Kimlun announced it was buying from UEM Sunrise (UEMS) 11.734 hectares of freehold agriculture land from the latter for RM82.1mil.

The land is within Iskandar Puteri and is near Horizon Hills, Eco Botanic and Taman Nusa Sentral. It is roughly 5km (by road) north-west of Kota Iskandar. The land has been zoned for commercial use and Henry Butcher Malaysia has appraised the land at RM83mil.

“The pricing for the land works out to be RM65psf. Our property analyst feels that this may be on the high side when compared to the recent transacted price of RM43.4psf when UEMS sold a parcel of land to Country View. It is nonetheless noted that the land that Kimlun is buying is much smaller in size.

“Kimlun intends to develop commercial properties on the said land but no further details were given,” it said.

HLIB Research said as of 3Q17, Kimlun’s net gearing was low at 5.5%. On a proforma basis, the land purchase would increase its net gearing to 19.6% which the research house deemed as manageable.

“As of 9M17, property contributed a minimal 2.5% to revenue. Kimlun has thus far only undertaken two developments, with take up rate at 90% for The Hyve (launched 2012) and 50% for Pekan Nenas (launched 2015),” it said.

https://www.thestar.com.my/business/business-news/2017/12/21/hlib-research-sees-recovery-for-kimlun-in-fy18/
21/12/2017 20:51
Patrick13 Seems like Kimlun is looking good on Johor future prospects.
Establish 3 new subsidiaries: Kii Morris S/B, Kii Ashbury S/B and Kiiville S/B and buy 3 new lands so far in this month. Of course it won't give quick return in recent years. This is talking about 5-10 year investment. Currently Kimlun almost completed on-hand property projects (eg. The Hyve and Pekan Nanas).
29/12/2017 08:41
Top Drive Only 4 stocks are picked by more than 7x in 2018 Stock pick of the year! Two of them are Dnex and Hibiscus!
http://klse.i3investor.com/m/blog/stock_pick_2018/142894.jsp
03/01/2018 08:54
luckyman http://cdn1.i3investor.com/my/files/dfgs88n/2018/01/16/1507091895--1262452000.pdf
16/01/2018 21:09


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