DEAR SHAREHOLDERS, ON BEHALF OF THE BOARD OF DIRECTORS (“THE BOARD”), I AM PLEASED TO PRESENT THE ANNUAL REPORT OF KIMLUN CORPORATION BERHAD (“OUR COMPANY”) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 (“FY2024”). OUR OPERATING ENVIRONMENT The Malaysia construction industry has achieved a remarkable double-digit growth in 2024, after rebounding strongly from the challenges of the COVID-19 pandemic. Robust growth was achieved by the residential, non-residential and special trade subsectors. There were marked increase in tender invitations and project awards to us during FY2024, and we secured a record high of RM2.17 billion worth of new construction projects during FY2024, which is about 67% higher than the new construction projects secured in FY2023. Amongst the new projects secured were high-rise residential projects in Johor Bahru and Klang Valley, and upgrading of Senai-Desaru Expressway. The Singapore construction industry has also recorded a higher construction demand in 2024. Our pre-cast concrete products manufacturing division (“PCPD”) benefited from the steady flow of opportunities from Singapore public sector projects, and has secured a number of pre-cast concrete products sales orders in relation to the Singapore MRT projects during FY2024. Total new sales orders secured by the PCPD in FY2024 from Malaysia and Singapore market was RM0.2 billion. With higher projects and orders in hand, our revenue rebounded strongly to RM1.21 billion. CHAIRMAN’S STATEMENT 012
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