Last updated on December 25, 2025
KUALA LUMPUR: Kimlun Corp Bhd has announced plans to raise up to RM40.64 million through a private placement, with the majority of the funds directed towards property development in Johor.
In its Bursa Malaysia filing, the construction and property development group said the proposal entails issuing up to 35.34 million new shares, representing approximately 10% of its total issued shares.
Of the total proceeds, about RM30 million will be allocated to property development expenditure, primarily for the Pinegate Residency Phase 1 project, which carries a gross development value (GDV) of RM320 million. Additional funding will support the Arden Residence (GDV: RM800 million) and Pinegate Residency Phase 2 (GDV: RM330 million).
“The allocation of funding for the property development projects will be determined over the progress of the projects. Any shortfall required to fund these projects will be financed through the company’s internally-generated funds and/or borrowings,” Kimlun stated.
The remaining RM7 million will be set aside for staff costs, while RM3 million will go towards marketing and general operating expenses, including diesel, utilities, and office expenses.
Kimlun expressed cautious optimism on its outlook, citing improved operating margins, active project execution, and new property launches in Johor, alongside its strategic focus on core construction sectors in Malaysia and Singapore.
For the quarter ended March 31, 2025, the company posted revenue of RM460 million — its highest quarterly revenue to date — signalling positive momentum for the financial year ending December 31, 2025.
