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. 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 Board of Directors of KIMLUN is pleased to announce that its wholly-owned subsidiary, Kimlun Sdn Bhd had accepted the award of two (2) contracts from Bandar Nusajaya Development Sdn Bhd pertaining to the construction of one (1) block of affordable apartment, 166 units of link houses, ancillary buildings and infrastructure, in the Mukim Pulai, Daerah Johor Bahru, Johor. The aggregate contract value of the two (2) contracts is Ringgit Malaysia Ninety-Five Million Four Hundred Thirteen Thousand Eight Hundred Twelve and Cents Thirteen Only (RM95,413,812.13).
Price and volume surged for Kim Lun. Very consistent with more construction activities (houses and condo in JB). MRT Circle Line also come handy as it has manufacturing of precast and depo in Senawang.
The Board of Directors of KIMLUN is pleased to announce that its wholly-owned subsidiary, Kimlun Sdn Bhd had accepted the award of a construction contract from Astaka Development Sdn Bhd for main building works for a serviced residence development, Aliva Mount Austin, in Daerah Johor Bahru, Johor.
The contract value of the contract is RM150,000,000.00.
The construction work is expected to be completed in the fourth quarter of 2026.
The Group plans to launch 1,200 units of serviced apartments which are located within the vicinity of the RTS terminal at Bukit Chagar with a total GDV of approximately RM1 billion in second half of FY2025.
Taking 30% gross pretax profit, that is rm 300 million. So cost of development inclusive of land is rm 700 million. Land cost is about 10% of capital outlay is very very low. Normally for high rise, it should be 15 to 20% of the development cost.
Construction cost is between 50% to 60% of development cost, i.e. 350 million to 420 million. Since KimLun has the expertise to build high rise, and it has worked well with Crescendo before, there is good chance KimLun can get get this job by end of June.
Regrettably sold 10/15 lots of this just below $1 after holding for many months but at least I retain 5 lots & hold on tightly until at least the next dividend!
This type of company doing IBS ,, even if boom order book,, how much can they produce or manufacture,,, if manufacture too much got no place to store and too much double handling. So at best valuation should be on max capacity they can sell.
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THE POWER OF CHART READING!!! =)