[%tajv%] 
Research by Kenanga
Market Perform – TP of MYR 1.47

“Bags RM143m Building Job in Johor” 

KIMLUN has secured a RM143m building job in Johor, boosting its YTD job wins to RM426.6m and outstanding order book to RM2.32b. We raise our FY24-25F earnings forecasts by 34% and 50%, respectively, lift our TP by 50% to RM1.47 (from RM0.98) but keep our MARKET PERFORM call.

Analyst(s):
Teh Kian Yeong 
[%FhuI%]

$KLSE-KIMLUN 
Research by Kenanga
Market Perform – TP of MYR 1.47

“Bags RM143m Building Job in Johor” 

KIMLUN has secured a RM143m building job in Johor, boosting its YTD job wins to RM426.6m and outstanding order book to RM2.32b. We raise our FY24-25F earnings forecasts by 34% and 50%, respectively, lift our TP by 50% to RM1.47 (from RM0.98) but keep our MARKET PERFORM call.

Analyst(s):
Teh Kian Yeong 
tehky@kenanga.com.my

$KIMLUN / 5171 (KIMLUN CORPORATION BERHAD)