KNM lands contracts worth RM55.6m in Indonesia

This article first appeared in The Edge Financial Daily, on October 2, 2019.
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KUALA LUMPUR: KNM Group Bhd has landed two contracts worth RM55.62 million in total in Indonesia.

In a filing with Bursa Malaysia yesterday, KNM said its unit KNM Process Systems Sdn Bhd inked the design, engineering and supply contracts last Monday with SK Engineering & Construction Co Ltd for the RDMP RU-V Balikpapan Project located at Balikpapan, East Kalimantan operated by PT Pertamina.

KNM shares rose 2.67% or one sen to 38.5 sen with a market capitalisation of RM998.13 million. Over the past one year, the group’s stock has jumped 140.63%.