CEO Morning Brief

Kimlun Lands RM238m Apartment Job in Selangor

Publish date: Fri, 02 Jun 2023, 08:43 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (June 1): Kimlun Corp Bhd has bagged a contract worth RM237.63 million from Melati Ehsan Holdings Bhd to undertake main building works for two blocks of serviced apartments in Selangor.

In a bourse filing, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd accepted the award from Melati Ehsan's unit Bayu Melati Sdn Bhd.

The construction work is expected to be completed by the end of January 2027.

“The project is expected to contribute positively to the earnings and net assets of Kimlun for the financial years during the contract period,” said Kimlun.

On May 10, the Kimlun subsidiary secured two construction contracts worth RM94.5 million from Horizon Hills Development Sdn Bhd. The contract involves main building works for 78 units of shop offices and a shopping mall with facilities in Johor Bahru.

Kimlun's share price closed unchanged at 74 sen on Thursday (June 1), giving the group a market capitalisation of RM259.78 million.

Source: TheEdge - 2 Jun 2023

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