Kimlun bags RM98mil construction job from Mah Sing

PETALING JAYA: Kimlun Corp Bhd has won an RM98.3mil contract for the construction of 492 houses in Mukim Plentong, Johor Baru.

In a filing with Bursa Malaysia, the company announced that it had accepted the letter of award from Mah Sing Group Bhd for the project. 

Kimlun said that construction works were expected to be completed by July 2018 and that it did not foresee any exceptional risk other than operational risks associated with the project.

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

For its financial year ended Dec 31, 2015 (FY15), Kimlun’s net profit grew to RM70.7mil from RM44.6mil the year before. 

The construction firm’s revenue for the year came to RM1.05bil, compared with RM1.21bil in FY14. 

As of last year, the company had an estimated construction and manufacturing balance order book of approximately RM940mil and RM170mil, respectively. In its earnings disclosure, the company said it was optimistic of better prospects in the construction sector in Malaysia and Singapore this year.