Highlights

Stevent Hee

Author: StallionInvestment   |   Latest post: Thu, 2 May 2019, 10:25 PM

 

KIMLUN - THE SHINNING STAR - STEVENT HEE

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In Chinese Society, there is a saying "商不宜跟官斗“ meaning as business men we should not go against the will of the government. Business men should be pro government. but lately we have seen many destructive business that getting stronger such as UBER, GRAB CAR, AIRBNB. Many business model has change and getting much more sophisicated.

So, let talk about the New Malaysia Government Vision first. Malaysia government is a caring government and knowing that many Malaysian wish to own a house but due to low wages that we as Malaysian getting for many years and housing price at the level which ordinary working class can't afford to own a house. 

 

News release on 28 Jan 2019

Housing and Local Government Ministry is targeting to build 1 million units of affordable homes for the B40 group within the next 10 years.

It’s Minister Zuraida Kamaruddin said the aim is to build 100,000 units each year continuously, to enable more people, especially low income earners, to be house owners.

Source obtain from https://www.nst.com.my/news/nation/2019/01/455336/govt-build-1-million-affordable-homes-b40-10-years-zuraida

 

News release on 17 Mar 2019

The use of industrial building system (IBS) technology in all public affordable housing projects will not only help meet the government’s target to build a million such homes in the next decade but will reduce its dependency on foreign workers.

Housing and Local Government Minister Zuraida Kamaruddin said to achieve the target, all the ministry’s affordable housing projects would be built using the IBS method by 2024.

 

“We have been talking about

moving towards using IBS which is in line with our National Housing Policy for more than a decade but we now want to realise it as it is cheaper, faster and a less labour-intensive method.

 

Zuraida said there was a pressing need to promote IBS as only 19,000 houses have been built annually using the technology.

However, she expressed confidence that more developers would migrate to the IBS technology due to its benefits.

Zuraida said her ministry was also prepared to look at ways to encourage developers to use IBS technology.

“We can look at some incentives because they are also helping us to meet our target for affordable homes,” she said.


Source obtain from  https://www.thestar.com.my/news/nation/2019/03/17/govt-to-use-ibs-tech-for-affordable-homes/#x825ZgKZsqYPFqHj.99

 

So, ongoing forward we should expect more affordable home to build up to cater the need of B40 in Malaysia.

Let talk about Kimlun first and understand what is this company doing.

Picture tell thousand word. Let see the picture what is KIMLUN doing.

 

 

 

So, from the company website, it is showing KIMLUN get involve into 5 segments which is :

1. Construction & Engineering

2. IBS

3. Precast Concrete

4. Property Development

5. Quary Products

 

I will bring you all into this topic to understand further this area first. So, completed project is no longer concern for us. Is only to proof what have they achieve in the past. Now, we focus what are the ongoing project.

 

Ongoing project is Austin Regency and Hospital UKM. So, we assume government is good pay master and no issue if KIMLUN deliver as per stated in the specification draft to the government.

 

From the ongoing project such as Pan Borneo Highway, Rumah SelangorKu, PPA1M and other. It seem that they are the beneficiary if government to continue to spur the economy via construction and property development.

 

In order to be eligible to apply for rumah selangorku. I attach the print screen for hte rumah selangorku website

http://lphs.selangor.gov.my/index.php/pages/view/55

 

 

So, let move on to IBS. What is IBS?

IBS is an improved system of construction that uses industrial production techniques either in the production of components or assembly of buildings, or both. One of these techniques is the utilisation of standardised forms of precast concrete and prefabricated steel structures in construction works – it's basically the industrial production of components through prefabrication. The system also involves offsite, and to a lesser extent, on-site, mass production of building components.

This system of construction allows for a more efficient and cost effective construction cycle because the precast concrete and prefabricated steel structures for each individual project are customised and standardised. Other notable benefits included greater consistency as well as improvement of quality in the fabrication of these structures. These precast concrete and prefabricated steel structures are particularly useful for high rise buildings or mass housing estates where a similar structure can be replicated numerous times. In the simplest of words, the adoption of IBS gives you shortened construction period, lower costs and better construction quality.

With all the benefits, Kimlun is moving towards being a full-fledged IBS builder:

Source obtain from http://www.kimlun.com/kimlun-corp/industrialbuilding-system.php

Let cut the story short, we analyse from fundamental and technical point of view first

PE : 7.83

NTA : 2.00 

 

TOP 10 MAJOR SHAREHOLDER

 

HISTORICAL FINANCIAL RESULT

 

GROWING NTA and revenue. Good

Reducing EPS and lower dividend payout. Bad

 

Technical Point of View :

 

 

VOLUME ACCUMULATION PRICE RANGE : 1.14 - 1.19

VOLUME TRAP AT THE HIGH SIDE RANGE : 2.10 - 2.30

 

TECHINICAL INDICATOR : 

SH TREND : BULLISH

MACD : BULLISH

RSI : ABOUT TO OVERBOUGHT ; BEWARE OF TECHINCAL PULL BACK

 

Conclusion: KIMLUN should be the benefiicary of the government resume construction project and KIMLUN has strong footage at Johor Bahru. If Johor Bahru going to have a new port which the HK tycoon Lee Kar Shing coming in. Property demand will surge up. So, overall, remain positive toward the outlook unless there is any major changes on the government policy. 

FB : https://www.facebook.com/Steventheeinvestment/

Telegram :  https://t.me/steventhee628

 

免责申明: 以上文章纯属个人意见以及学术性分享,不构成任何买卖建议。在你做出任何买卖之前,建议您和你的股票经纪质询任何投资意见。买卖风险自负

Disclaimer: Above article is for educational sharing purpose. Kindly consult your dealer/remisier for any investment advise before you make any decision. Trade at your own risk.  

 

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