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This article first appeared in The Edge Financial Daily on April 5, 2019

KNM Group Bhd (+ve)

TRADING of shares in KNM Group Bhd (fundamental: 0.35/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year.

KNM’s share price closed up 1.5 sen or 10% at 16.5 sen, with 204.09 million shares traded versus the counter’s 200-day average volume of 11.56 million shares.  Its market capitalisation stood at RM387.11 million.

The group is principally engaged in the manufacturing of process equipment and turnkey solutions catering to international oil, gas, petrochemicals, energy and minerals processing companies and global engineering contractors.

On March 11, KNM initiated arbitration proceedings against Lukoil Uzbekistan Operating Co LLC for over US$96 million (RM391.68 million) in unpaid work it carried out as a contractor in the gas-condensate fields in Uzbekistan.

As of yesterday, KNM shares were trading at 0.26 times their net book value.

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