Monday, September 2, 2013

Kimlun Corp - order book RM 1.7 billion

It is expanding its concrete products business as it seeks to increase the segment’s contribution as well as complement its construction operation.

Its concrete products segment contributes about 30% of the group’s operating profit.

Its subsidiary was the designated supplier of SBGs and TSLs for the Klang Valley MRT Sungari Buloh Kajang line project, for rm223 million and rm49 million respectively.

The low margin supply contracts for the KVMRT project failed t o lift Kimlun as lesser jobs in its construction division caused a 38% decline in the group’s first half earnings to rm16 million.

As at end June 2013, the group had an estimated order book balance of rm1.7 billion.

The group also won the tender to supply and deliver TSLs to the east and west transmission cable tunnel project in Singapore for a contract value of rm60 million on June 26 2013. It put in a bid to supply its concrete products for the Thomson Line MRT extension project in the island republic.

It has also embarked on its maiden property development. It has acquired 17.26ha of feeehold agricultural land in Nilai for a total consideration of rm28 million. It has also ventured into property development in Medini, Iskandar Malaysia.

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