[%jYOR%] New Johor theme play?

- Kia Lim is the biggest brick manufacturer in Johor.
- Mega projects in Johor is improving the property market in the state. 
- [%BgmN%] and [%HsBo%] had both indicated more launches in Johor in 2024. 
 - This directly benefit building material manufacturer such as Kia Lim. More properties, more demand for bricks, higher ASP.
- Kia Lim’s FY23 revenue rose 24% to MYR36.3m, driven by higher sales volume and record-high selling prices especially from Johor property developers and contractors.
- FY23F core net profit of MYR4.9m, turned into the black from losses of MYR0.84m in FY22. 
- RHBIB recently covered the stock and suggests KiaLim beat her profit estimate for FY23. RHBIB profit estimate for FY24 is RM6.5m
- Assuming conservative RM2.5m profit per quarter and 8x PE. FV should be RM1.30 

What u guys think?

$KLSE-KIALIM New Johor theme play?

- Kia Lim is the biggest brick manufacturer in Johor.
- Mega projects in Johor is improving the property market in the state. 
- $KLSE-UEMS and $KLSE-SUNWAY had both indicated more launches in Johor in 2024. 
 - This directly benefit building material manufacturer such as Kia Lim. More properties, more demand for bricks, higher ASP.
- Kia Lim’s FY23 revenue rose 24% to MYR36.3m, driven by higher sales volume and record-high selling prices especially from Johor property developers and contractors.
- FY23F core net profit of MYR4.9m, turned into the black from losses of MYR0.84m in FY22. 
- RHBIB recently covered the stock and suggests KiaLim beat her profit estimate for FY23. RHBIB profit estimate for FY24 is RM6.5m
- Assuming conservative RM2.5m profit per quarter and 8x PE. FV should be RM1.30 

What u guys think?