PETALING JAYA: KNM Group Bhd has been awarded three contracts with a total estimated value of RM97.7 million via its subsidiaries.
The group told Bursa Malaysia that its wholly owned subsidiary KNM Process Systems Sdn Bhd (KNMPS) signed a purchase order from TPSK Consortium for the supply of shop assembled large columns for the Petrochemical Complex, Olefin plant in South Vietnam amounting to US$12.77 million (RM53.44 million) today.
Its indirect wholly owned subsidiary FBM Hudson Italiana S.p.A (FBM) had accepted a notice of award and authorisation for the supply of reactor effluent air condensers for Petronas’ Rapid project in Pengerang, Johor with a value of US$4.46 million (RM18.68 million) from Sinopec Engineering (Group) Co Ltd.
In addition, FBM was also awarded a technical goods and work purchase contract for the engineering, procurement, manufacturing, inspection, testing and delivery of oleflex reactors for the New European PDH Project at Borealis Production site in Kallo, Antwerp in Belgium with a value of €5.45 million (RM25.59 million) from Borealis Kallo N.V.
The group expects the awarded contracts to contribute positively to KNM’s earnings for the financial years ending Dec 31, 2019 and 2020.