KUALA LUMPUR (April 27): Kimlun Corp Bhd has received a RM98.3 million worth of housing development contract in Johor Bahru from Meridin East Sdn Bhd, a subsidiary of Mah Sing Group Bhd.
It told stock exchange that its unit Kimlun Sdn Bhd has received the letter of award from Meridin East today and been tasked to construct a total of 492 units of houses in Mukim Plentong.
"The construction work is expected to be completed by July 2018," it said, adding that the contract is expected to contribute positively to its earnings during the contract period.
Shares in Kimlun settled at RM1.77 today, up three sen or 1.72%, for a market capitalisation of RM531.98 million.
Mah Sing's shares was closed four sen or 2.82% higher at RM1.46, valuing it at RM3.49 billion.
KIMLUN (5171) - Kimlun gets RM98.3m housing contract from Mah Sing
http://www.theedgemarkets.com/my/article/kimlun-gets-rm983m-housing-contract-mah-sing
