KUALA LUMPUR: Kimlun Corporation Bhd, which made its debut on Tuesday, June 29 on the Main Market of Bursa Malaysia was actively traded and was up 1.5 sen to 98.5 sen with 13.4 million shares done at 9.20am.
Kimlun is the first CONSTRUCTION [] listing in more than three years. Its client base mainly comprises of listed property developers.
OSK Research said it likes Kimlun's exposure to the Iskandar region and utilisation of the IBS concept, which enhances efficiency.
"We also see strong potential for its concrete division in the Singapore market.'' Our RM1.27 TP for Kimlun is based on 8x FY10 earnings," it said. Its offer price is 97 sen.
Kimlun is the first CONSTRUCTION [] listing in more than three years. Its client base mainly comprises of listed property developers.
OSK Research said it likes Kimlun's exposure to the Iskandar region and utilisation of the IBS concept, which enhances efficiency.
"We also see strong potential for its concrete division in the Singapore market.'' Our RM1.27 TP for Kimlun is based on 8x FY10 earnings," it said. Its offer price is 97 sen.
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