Quick take: KNM rises 2.27% on RM111mil purchase order


KUALA LUMPUR: Shares in KNM Group Bhd climbed marginally in early trade Monday after securing a RM111mil contract to supply air-cooled heat exchangers.

The counter added 2.27%, or 0.5 sen to 22.5 sen with over three million shares traded.

KNM has secured a purchase order for the supply of air-cooled heat exchangers worth approximately RM111mil.

It’s wholly-owned subsidiary FBM Hudson Italiana SpA accepted the purchase order from engineering outfit Bechtel International Inc.

It said the duration of the transaction is for a period of about 20 months from the date of the purchase order.

KNM said the contract is expected to contribute positively to the group’s earnings for the financial year ending Dec 31, 2022 (FY22) and FY23.

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KNM , FBM Hudson Italiana , Bechtel

   

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