KNM rises 2.86% on landing US$4.25m contract in Vietnam

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KUALA LUMPUR (July 19): Shares in KNM Group Bhd rose 2.86% this morning after it bagged a US$4.25 million (RM17.48 million) contract to supply shop-assembled large drums for the Petrochemical Complex in southern Vietnam.

At 9.11am, KNM added 1 sen to 36 sen for a market capitalisation of RM937.45 million.

This is the second contract it announced this month, following an air cooler heat exchangers contract worth €7.754 million (about RM36.14 million) it announced on July 4.

In a stock exchange filing, its wholly-owned unit KNM Process Systems Sdn Bhd (KNMPS) has accepted and signed the purchase order (PO) dated July 8, 2019 for the Package A1 – Olefins Plant from TPSK Consortium.