KUALA LUMPUR: AmResearch has maintained its Buy call on Kimlun but with a lower fair value of RM2.52 from RM2.77 as it continues to like the group as a proxy to construction activities within Johor as well as MRT jobs in Klang Valley and Singapore.
In a note on Friday, AmResearch said while FY13F earnings are expected to be muted, the research house expect earnings recovery from FY14F onwards as contribution from its current jobs kick in.
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