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Saturday, June 25, 2016

Kimlun to bid for projects worth up to RM3bil

Saturday, 25 June 2016
Kimlun to bid for projects worth up to RM3bil

KUALA LUMPUR: Kimlun Corporation Bhd is currently bidding for projects worth close to RM3bil.

“These include property development, manufacturing and highway projects,” its executive director Vennessa T.F. Yam told reporters after the company’s annual general meeting here yesterday.

She said most of the projects were local projects related to the Klang Valley Mass Rapid Transit and Damansara-Shah Alam Elevated Expressway.

The company’s focus was still on projects and land in Kuala Lumpur and Johor Baharu and it might also look at Kuching as it had secured a RM1.46bil project under the Pan Borneo Highway project with Zecon Bhd last March, she added.

Meanwhile, Yam said Kimlun was expected to maintain its financial performance this year or might record a slightly lower performance as its bigger projects were still at their beginning stages.

“We don’t expect a very big contribution until our big projects enter the execution phase. So this year, we will still be relying on our older projects,” she added.

As at March 31, 2016 Kimlun has total cash in hand of RM58.2mil, and an outstanding orderbook of RM1.8bil that will keep it busy for the next two years.

Kimlun shares closed unchanged at RM1.79 yesterday with a total of 458,500 shares traded – Bernama

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