KNM bags contracts worth RM204m from Japan, Spanish groups
KUALA LUMPUR (April 9): KNM Group Bhd has secured three projects worth a combined US$56.67 million (RM204.01 million) from Japan's Toyo Group and Spanish-based Tecnidas Reunidas Group.
In a filing with Bursa Malaysia today, KNM (fundamental: 0.85; valuation: 1.8) said its wholly-owned subsidiary KNM Process Systems Sdn Bhd was awarded a US$33.53 million contract by Toyo Group to supply columns, reactors, drums and tanks for the Pengerang Integrated Petroleum Complex Project in Johor.
The group also won a US$15.17 million contract from Tecnicas Reunidas Group to supply reactors, columns and pressure vessels for the same project.
Its third contract valued at US$7.97 million, involves supplying towers to Toyo Engineering Corp of Japan for the Turkmengas Petrochemical Complex project in Turkmenistan.
"The contract period for the three projects runs between 12 months and 18 months," said KNM.
The projects are expected to contribute positively to KNM Group's earnings for the financial years ending Dec 31, 2015, and 2016.
KNM shares closed unchanged at 63 sen today, with a market capitalisation of RM1.22 billion.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
http://www.theedgemarkets.com
KUALA LUMPUR (April 9): KNM Group Bhd has secured three projects worth a combined US$56.67 million (RM204.01 million) from Japan's Toyo Group and Spanish-based Tecnidas Reunidas Group.
In a filing with Bursa Malaysia today, KNM (fundamental: 0.85; valuation: 1.8) said its wholly-owned subsidiary KNM Process Systems Sdn Bhd was awarded a US$33.53 million contract by Toyo Group to supply columns, reactors, drums and tanks for the Pengerang Integrated Petroleum Complex Project in Johor.
The group also won a US$15.17 million contract from Tecnicas Reunidas Group to supply reactors, columns and pressure vessels for the same project.
Its third contract valued at US$7.97 million, involves supplying towers to Toyo Engineering Corp of Japan for the Turkmengas Petrochemical Complex project in Turkmenistan.
"The contract period for the three projects runs between 12 months and 18 months," said KNM.
The projects are expected to contribute positively to KNM Group's earnings for the financial years ending Dec 31, 2015, and 2016.
KNM shares closed unchanged at 63 sen today, with a market capitalisation of RM1.22 billion.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
http://www.theedgemarkets.com
