KUALA LUMPUR (Oct 2): KNM Group Bhd has secured three additional contract agreements worth a total of US$12.45 million or approximately RM52.17 million.
The three agreements, which are for the design, engineering and supply of pressure vessels, are on top of two contracts disclosed yesterday for the RDMP RU-V Balikpapan Project in East Kalimantan of Indonesia.
This brings the combined contract awards received by KNM to a current total of RM107.79 million, the group said in an exchange filing today.
Under the new agreement signed with client RDMP Balikpapan Jo, KNM is to supply and deliver the vessels for a combined targeted total period of no later than end-May 2021.
The contracts will contribute positively to the group's earnings for the financial years ending Dec 31, 2019 to 2021, the group added.
On Oct 1, KNM announced that it landed two contracts worth RM55.62 million in total in Indonesia.
This was as its unit KNM Process Systems Sdn Bhd inked design, engineering and supply contracts last Monday with SK Engineering & Construction Co Ltd for the RDMP RU-V Balikpapan Project as operated by PT Pertamina.
At the noon break today, shares in KNM settled half a sen lower at 38 sen for a market capitalisation of RM985.17 million.