KUALA LUMPUR: Shares in KNM Group Bhd
ended the day 16.84% higher at 55.5 sen supported by the company bagging a £88mil (RM581mil) contract to build a waste-to-energy plant in Croydon, United Kingdom.
There were 161.03 million shares done at market close on Wednesday.
KNM’s unit KNM Process Systems Sdn Bhd accepted the letter of award from UK-registered Drenl Ltd to undertake the engineering, procurement, construction and commissioning (EPCC) contract.
In its filing with Bursa Malaysia the company said that it has also been awarded the operation and maintenance of the waste-to-energy facility, subject to finalisation of the terms and conditions.
The EPCC contract is for 27 months starting after receiving notice to proceed from Drenl.
“The EPCC contract is expected to contribute positively to KNM Group’s earnings for the financial years ending Dec 31, 2016, 2017 and 2018,” it said.
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