KIMLUN (5171) - Kimlun bags RM200 mil MRT contract

KUALA LUMPUR (March 29): Kimlun Corp Bhd's wholly-owned unit SPC Industries Sdn Bhd has bagged a RM199.9 million contract from Mass Rapid Transit Corp Sdn Bhd (MRT Corp) to supply segmental box girders for the MRT Sungai Buloh-Serdang-Putrajaya (SSP) Line 2 project.

In a filing with Bursa Malaysia today, Kimlun said SPC Industries was appointed by MRT Corp as the designated supplier for a period of about 44 months.

"The supply contract is expected to contribute positively to the earning and net assets of Kimlun group for the financial years during the supply period.

"The group does not foresee any exceptional risk other than operational risk associated with the supply contract," it said.

Kimlun's share price closed two sen or 1.13% higher at RM1.79 for a market capitalisation of RM541 million.

KIMLUN (5171) - Kimlun bags RM200 mil MRT contract
http://www.theedgemarkets.com/my/article/kimlun-bags-rm200-mil-mrt-contract