Kimlun bags RM52.8mil deal to supply MRT tunnel linings

Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) chief executive officer Datuk Seri Shahril Mokhtar with the members from the media on a walk through the 1km tunnel between Cochrane and Tun Razak Exchange (TRX) stations on Feb 11.

PETALING JAYA: Kimlun Corp Bhd has secured a RM52.8mil contract for the supply and delivery of precast concrete tunnel segment linings to the Mass Rapid Transit 2 (MRT2) project.

In a statement, the contruction firm said it was awarded the contract by MMC Gamuda KVMRT (UGW) joint venture for the Sungai Buloh-Serdang-Putrajaya (SSP) alignment.

The estimated date of completion was Sept 30, 2019.

“The company does not foresee any exceptional risk other than operational risks associated with the supply contract,” Kimlun said.

“The supply contract is expected to contribute positively to the earnings and net assets to Kimlun group for the financial years during the supply period,” it added.

For the third quarter ended Sept 30, 2016, Kimlun’s net profit fell 15.8% year-on-year (y-o-y) to RM16.51mil from RM19.6mil in the corresponding last year on lower revenue.

During the period in review, the company’s revenue slid 7% to RM224.2mil from RM241.1mil previously due to a decline in construction revenue, and its earnings per share fell to 5.38 sen from 6.52 sen.

For the nine-month period, Kimlun’s net profit rose 17.1% to RM57.7mil from RM49.3mil in the corresponding period in 2015.

Its revenue, however, was lower at RM705.3mil for the nine months ended September 2016, compared with RM821.7mil in the previous corresponding period and its EPS rose to 18.95 sen from 16.40 sen previously.