KUALA LUMPUR (Jan 9): Kimlun Corporation Bhd has been awarded two projects with a collective contract value of RM110.6 million.
The first contract worth RM63.6 million and awarded by Tentu Teguh Sdn Bhd — a subsidiary of United Malayan Land Bhd, entails the main building works for 89 units of factories in Johor Bahru, which are expected to be completed in December next year.
Meanwhile, another contract worth RM47 million, is for infrastructure works for phase 3 of the Southern Industrial and Logistics Cluster in Nusajaya, Johor, which was awarded by UEM Land Bhd. This contract is due to be completed in April 2016.
The projects are expected to contribute positively to the earnings and net assets of the Kimlun Group for the financial years during the contract period, the company said in a filing to Bursa Malaysia today.
Kimlun’s shares rose 5 sen or 4.17% higher at RM1.25 today, giving it a market capitalisation of RM360.7 million.
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