KNM secures RM17mil order from Vietnam plant

In a filing with Bursa Malaysia, KNM said the contract, awarded by Technip Italy SpA, is for the design, detailed engineering and fabrication of air cooler heat exchangers at the Middle East Oil Refinery in Alexandria.

PETALING JAYA: KNM Group Bhd has secured an order worth US$4.25mil (RM17.5mil) for the supply of shop-assembled large drums to a petrochemical complex in the south of Vietnam.

The engineering and energy company announced that its wholly owned subsidiary, KNM Process Systems Sdn Bhd, had secured the purchase order from TPSK Consortium for the Package A1 – Olefins Plant.

“The supply and delivery duration of the transaction would be in four batches and for a period not exceeding 13 months commencing from the date of the purchase order,” KNM said in a filing with Bursa Malaysia.

The group, whose share price has been on an uptrend in recent weeks, said the transaction is expected to contribute positively to its earnings for the financial years ending Dec 31, 2019, and 2020.

KNM shares ended four sen lower yesterday at 35 sen.