Quick take: KNM shares boosted by RM101mil contract win

March 4, 2019 editor KNM, LPG, Stock On The Move

KUALA LUMPUR: Shares in KNM Group Bhd were boosted in early trade Monday after announcing a RM101mil contract in Myanmar.

The counter rose 5.26%, or 0.5 sen to 10 sen with over four million shares traded. In the past one year, it has fallen some 58%.

KNM announced that its unit has secured an engineering, procurement and construction contract worth US$24.87mil (approximately RM101.35mil) for a liquefied petroleum gas (LPG) facility in Myanmar.

KNM said the its wholly-owned unit KNM Process Systems Sdn Bhd received the complete executed lump sum turnkey contract today with CECA Gold Company Ltd.

The contract is for the engineering, procurement and construction of a liquefied petroleum gas receiving, tanking, storage and bottling facility in Kyaut Tan Township Thilawa, Myanmar.

Source : TheStar