$KIMLUN / 5171 (KIMLUN CORPORATION BERHAD)
Research by Kenanga
Market Perform – TP RM1.47

“A Slow Start to FY24"

KIMLUN’s 1QFY24 results met expectations. It barely broke even in 1QFY24 as its new construction projects were still at early stages of execution. Nonetheless, it is poised to benefit from a new wave of public infrastructure projects. We maintain our forecasts, TP of RM1.47 and our MARKET PERFORM rating.

Analyst:
Teh Kian Yeong
tehky@kenanga.com.my