Kimlun secures RM780mil contract for Sarawak-Sabah Link Road project

TheStar Wed, Nov 17, 2021 01:36pm - 2 years View Original


KUALA LUMPUR: Kimlun Sdn Bhd, a wholly owned subsidiary of Kimlun Corp Bhd, has been awarded the main works for the construction and maintenance of the Sarawak-Sabah Link Road Construction project (Lawas-Long Lopeng junction) for a contract sum of RM780mil.

In a bourse filing, the group said the construction job, received from Samling Resources Sdn Bhd, is expected to be completed in the second quarter of 2025.

"The project is expected to contribute positively to the earnings and net assets of Kimlun Group for the financial years during the contract period," it said.

Year-to-date, Kimlun has secured a total of RM1bil in construction projects and manufacturing orders.

Kimlun returned to the black on a year-on-year basis in the second quarter ended June 30,2021, after posting a net profit of RM2.38mil as compared to a net loss of RM9.74 mil in the previous corresponding quarter.

Revenue for the quarter was RM214.33mil, more than double RM94mil recorded in the same quarter a year earlier.

As at 12.30pm, Kimlun was up two sen or 2.35% to 87 sen a share for market capitalisation of RM300.7mil.

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