Kimlun on solid ground with precast concrete

TheStar Mon, Apr 22, 2024 12:00am - 2 months View Original


PETALING JAYA: Analysts are upbeat over Kimlun Corp Bhd’s outlook for this year, underpinned by the rollout of public infrastructure projects.

Kenanga Research noted that the construction company is eyeing work packages and orders for pre-cast concrete products from the second phase of the Pan Borneo Highway, flood mitigation projects, the Singapore Cross Island Line, semiconductor factories, and Mass Rapid Transit 3 (MRT3) line in the Klang Valley.

“We upgrade our financial year 2024 (FY24) to FY25 net profit forecasts by 8% and 9%, respectively, as we raise our FY24 to FY25 job-win assumptions to RM800mil and RM850mil (from RM750mil and RM800mil, against the company’s target of RM900mil per year),” the research house said in a report.

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