KUALA LUMPUR (June 16): Engineering and construction group KNM Group Bhd has landed a RM73.09 million contract to supply a heat exchanger for a petrochemical project in China.
In a filing today, KNM said the contract was awarded by China Petroleum Materials Company Ltd is for the CNPC Jieyang–Refining Chemical Integration PJ project.
The supply and delivery duration of the transaction is for a period of 16 months, KNM said.
“The transaction is expected to contribute positively to KNM group’s earnings for the financial year ending Dec 31, 2020 and Dec 31, 2021,” it added.
KNM’s share price has fallen some 36% this year. It ended at 23 sen today for a market capitalisation of RM601.42 million.