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KUALA LUMPUR, Nov 13 -- KNM Group Bhd's indirect wholly-owned subsidiary, FBM-KNM FZCO (FZCO), today accepted a purchase order from PSS Netherlands B V Sharjah branch for RM21.521 million (US$5.184 million).
In a filing with Bursa Malaysia today, KNM said the contract is for the supply of shell and tube heat exchanger lot 2 for the Clean Fuels Project at the existing major oil refinery in Sriracha, Chonburi on the east coast of Thailand as operated by Thai Oil Public Co. Ltd.
The supply and delivery duration of the order is for a period not exceeding Oct 10, 2020.
This additional contract, combined with the earlier disclosed contract awards received by FZCO and another wholly-owned subsidiary of the group, KNM Process Systems Sdn Bhd, as announced on Sept 20 for the Clean Fuels Project, brings the combined contract awards received from PSS Netherlands B V Sharjah branch to RM97.15 million.
"The transaction is expected to contribute positively to KNM's earnings for the financial years ending Dec 31, 2019 and Dec 31, 2020," it added.
-- BERNAMA
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