"Minister: IBS to be compulsory for construction projects in 2018 By Ahmad Naqib Idris / theedgemarkets.com | March 20, 2017 : 3:40 PM MYT
As at May 2016, Fadillah said about 69% of government projects used IBS, while the adoption rate by the private sector is still low at around 14%, according to CIDB's study in 2014."
This will be the next spike up construction counter based on the volume and the surged price today. You can see most of the construction counters are moving up recently. Monitor this closely
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.
Yes Patrick13 even kimlun win so many project but still no volume lol! I think management really need to think of some way to increase the share trading lol...mayb propose for bonus share or share split and free warrant? XD
Kimlun really is the long term counter. This RM263 million contract (Kimlun entitled is 40% x RM263 million = RM106 million only) and previously tender for tunnel project (worth RM52.8 millon) both expected completion year is on 2019. This is why the fund managers may think of Kimlun might have profit decline for the year 2017.
If excluding forex gain and disposal gain on PPE about RM2.55 million, adjusted PBT is only RM17.3 million which is lowest among recent 5 quarters. Anyway, TLS Singapore and SBG projects are going to contribute profit in the later part of FY2017. Hopefully they can secure more short to mid-term projects to fill in current year order gap as well as other long-term projects such as LRT3, KL-SG HSR and Pan Borneo Highway Sabah.
AmInvestment Research is retaining its Buy call for construction based for Kimlun with fair value (FV) of RM2.61 after the release of its first quarter results ended March 31, 2017.
If read latest QR revenue has dropped YOY. To maintain Kim Lun(KL) share price, every year KL must win about RM 700 million worth of contracts. Is it easy with so many construction companies eyeing same pie of jobs?
Kimlun Corp is a must-own construction stock, given its exposure to the MYR80bn Klang Valley Mass Rapid Transit (MRT) project and recently-secured Pan Borneo Highway project. Kimlun is also aggressively tendering for various infrastructure projects and low-rise developments, which should improve overall margins if secured.
cheap1 , u try wait and see when it can reach Rm1.2, it wont happen, at least at near term, i am confident it will hit 2.50 if the coming result is good
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john doe
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Posted by john doe > 2017-03-20 17:01 | Report Abuse
"Minister: IBS to be compulsory for construction projects in 2018
By Ahmad Naqib Idris / theedgemarkets.com | March 20, 2017 : 3:40 PM MYT
As at May 2016, Fadillah said about 69% of government projects used IBS, while the adoption rate by the private sector is still low at around 14%, according to CIDB's study in 2014."
Room for improvement?? lol