KUALA LUMPUR: OSK Research has initiated coverage on Kimlun with a BUY rating and RM2.34 TP (+34% upside) based on 12x mid CY12 earnings.
It said on Friday, Jan 28 that Kimlun's orderbook comprises fast-track jobs and has a clientele of reputable developers.
'Its use of the IBS (integrated building systems) CONSTRUCTION [] method gives it an advantage over traditional construction. Our proposition for the stock centers on three themes: Iskandar exposure, Singapore MRT expansion and the KL MRT. Kimlun is our top sector pick for small cap contractors,' OSK Research said.
It said on Friday, Jan 28 that Kimlun's orderbook comprises fast-track jobs and has a clientele of reputable developers.
'Its use of the IBS (integrated building systems) CONSTRUCTION [] method gives it an advantage over traditional construction. Our proposition for the stock centers on three themes: Iskandar exposure, Singapore MRT expansion and the KL MRT. Kimlun is our top sector pick for small cap contractors,' OSK Research said.
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