KNM secures orders valued at RM27.71m

  • Business
  • Friday, 14 Jun 2019

As the value of the company is tied to the performance of the company, it is in the interest of the warring shareholders to argue and fight outside the company.

KUALA LUMPUR: KNM Group Bhd's subsidiaries have secured two contracts worth a combined sum of about RM27.71mil for the supply of air cooler heat exchangers in Nigeria and Iraq respectively. 

In the first contract, the group's wholly owned subsidiary, FBM Hudson Italiana S.p.A, will supply air cooler heat exchangers to the Petroleum Refinery And Polypropylene Plant in Lekki Free Trade Zone in Nigeria for a sum of US$4.55mil (RM18.97mil).

The order from Dangote Oil Refining Company Ltd and and Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise has a duration of 12 months from the date of the acceptance of the contract.

In the second contract, KNM's wholly owned unit FBM-KNM FZCO has been commissioned to supply replacement heat exchangers to Khor Al Zubair’s gas processing plant located in Basrah Province, Iraq, for US$2.09mil.

The supply and delivery duration is for a period no later than Jan 14, 2020.

"The Awards are expected to contribute positively to KNM Group’s earnings for the financial year ending 31 December 2019 and 31 December 2020," said KNM.

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