Thursday, January 7, 2010

KNM Group unit secures RM143m order

KNM Group Bhd's subsidiary KNM Process Systems Sdn Bhd and its affiliated company KNM Projects (Thailand) Co Ltd have secured a new order worth 1.3 billion baht (RM143 million) from Impress Ethanol Co Ltd for its bioethanol project in Thailand.

According to the group, the project involves the engineering, procurement, construction and commissioning of a 200,000 litres per day cassava-based bioethanol plant in Chachaengsao.

The project is expected to be completed within 18 months, KNM Group said in an announcement to Bursa Malaysia today.

"The order is expected to contribute positively to the group's earnings for the financial years ending Dec 31, 2010, and 2011," it said.

In a separate announcement, KNM Group said the group and subsidiaries have entered into relevant shares sale agreements to implement internal restructuring.

The proposed internal restructuring is undertaken to streamline and realign the businesses and business units for the Caspian Region into the respective and distinct geographic locations for future projects, it said.

"The proposed restructuring is expected to be completed by mid-2010," it added.


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