PETALING JAYA:  Two contracts worth US$13.285 million (RM55.62 million) were bagged by KNM Group Bhd.

The wholly-owned subsidiary KNM Process Systems Sdn Bhd had entered into two contract agreements dated September 23 with SK Engineering & Construction Co Ltd for the design, engineering and supply of Column-I (SK) and Column-II (SK) respectively for the RDMP RU-V Balikpapan project in Balikpapan, Indonesia as operated by PT Pertamina (Persero), the group told Bursa Malaysia.

The transaction’s duration of the supply and delivery would be for a combined targeted total period no later than March 24, 2021.

SK is an engineering, procurement, construction and maintenance services company.

According to KNM, the transaction is expected to contribute positively to the group’s earnings for the financial year ending December 31, 2019, 2020 and 2021. At 2.32 pm, KNM’s share price gained 2.7% to 38.5 sen on 8.65 million shares done.

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