KUALA LUMPUR (May 8): Kimlun Corp Bhd's 40%-owned joint venture company JBB Kimlun Sdn Bhd has bagged a RM263 million contract to construct an office complex block for Majlis Bandaraya Johor Bahru (MBJB) in Plentong, Johor.
In a filing with Bursa Malaysia, Kimlun said JBB Kimlun has accepted the letter of award for the job from property developer Astaka Padu Sdn Bhd.
The project's duration is 30 months from the date of site possession, and is expected to be completed in October 2019.
"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 added.
Kimlun closed 0.9% lower at RM2.30, valuing the group at RM713.62 million. — theedgemarkets.com