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PETALING JAYA: KNM Group Bhd has clinched two contracts with a total value of US$13.285 million (RM55.62 million).
The group told Bursa Malaysia that its wholly owned subsidiary KNM Process Systems Sdn Bhd had entered into two contract agreements dated September 23 with SK Engineering & Construction Co Ltd for the design, engineering and supply of Column-I (SK) and Column-II (SK) respectively for the RDMP RU-V Balikpapan project in Balikpapan, Indonesia as operated by PT Pertamina (Persero).
The supply and delivery duration of the transaction would be for a combined targeted total period no later than March 24, 2021.
SK is an engineering, procurement, construction and maintenance services company.
KNM said the transaction is expected to contribute positively to the group’s earnings for the financial year ending December 31, 2019, 2020 and 2021.
At 2.32pm, KNM’s share price gained 2.7% to 38.5 sen on 8.65 million shares done.
