CEO Morning Brief

Kimlun's Unit Awarded Two Construction Contracts in Johor Worth RM94.5 Mil

Publish date: Thu, 11 May 2023, 09:22 AM
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TheEdge CEO Morning Brief
Kimlun's unit awarded two construction contracts in Johor worth RM94.5 mil

KUALA LUMPUR (May 10): Kimlun Corp Bhd has bagged two construction contracts worth RM94.5 million pertaining to main building works for 78 units of shop offices and a shopping mall with facilities in Johor Bahru.

In a bourse filing, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd has accepted the award of two contracts from Horizon Hills Development Sdn Bhd.

The projects are expected to be completed by the second quarter of 2025.

Horizon Hills is a joint venture development between Gamuda Land Sdn Bhd, a subsidiary of Gamuda Bhd and UEM Sunrise Bhd, for the development of a 1,200-acre integrated township in Iskandar Malaysia, with a gross development value of RM6 billion.

The contracts are expected to contribute positively to the group’s earnings and net assets for the financial years during the contract period.
Kimlun’s share price closed unchanged at 76 sen, translating into a market capitalization of RM269 million.

Source: TheEdge - 11 May 2023

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