KNM

KNM

Postby winston » Wed Oct 01, 2014 11:58 am

vested

August 27, 2014

KNM Group Q2 earnings up 50.4% to RM11.12m

KUALA LUMPUR: KNM Group Bhd's earnings rose 50.4% to RM11.12mil in the second quarter ended June 30, 2014 from RM 7.39mil a year ago mainly due to better project contribution margin.

It said on Wednesday its revenue increased by 12.7% to RM489.31mil from RM434.09mil. Its earnings per share were 0.74 sen compared with 0.5 sen.

In the second half, its earnings jumped 163% to RM25.29mil from RM9.61mil in the previous corresponding period. Revenue increased 6.4% to RM983.21mil from RM923.71mil.

KNM said the better performance was mainly due to better project contribution margins. Its Asia & Oceanic segment recorded lower job progress recognition but with better project contribution margin.

As for the Europe and Americas segments, it said the order book for both regions had improved.

KNM said when compared with the first quarter ended March 31, 2014, the group's revenue of RM489.31mil was lower by RM4.59mil from the RM493.90mil in Q1.

Profit before taxation was RM19.77mil compared to RM23.25mil in Q1, 2014 mainly due to higher other operating income was recognised in preceding quarter.

Source: The Star
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Re: KNM

Postby winston » Wed Oct 01, 2014 11:59 am

Aug 8, 2014

KNM, which is a subcontractor to Sinopec said that the latter has won a US$1.3bil contract from Petronas.

Source: The Star
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Re: KNM

Postby winston » Wed Oct 01, 2014 12:01 pm

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August 8, 2014

KNM to get slice of Pengerang job, eyeing work worth RM1bil

BY NG BEI SHAN

PETALING JAYA: Shares in KNM Group Bhd climbed after the company said it will get a slice of the US$1.33bil (RM4.26bil) contract for an oil refining and petrochemical engineering project at the Pengerang Integrated Complex in Johor.

A source told StarBiz that the process equipment fabrication specialist was eyeing for work worth at least RM1bil from the project.

“KNM’s slice of the pie could be valued at between US$300mil (RM963mil) and US$360mil,’’ the source said.

KNM told the stock exchange yesterday that the engineering, procurement, construction and commissioning (EPCC) package was awarded by PRPC Refinery And Cracker Sdn Bhd, a unit of Petroliam Nasional Bhd, to Sinopec Engineering Group Co Ltd.

The letter of award was received by Sinopec on July 25.

“KNM Process System Sdn Bhd (KNMPS) has been co-operating with Sinopec on the bidding process and it has been agreed that KNMPS is a selected subcontractor to Sinopec for the execution of the contract,’’ it said.

“The relevant parties are in the process of finalising and executing the contract,’’ the company said.

KNM shares jumped as much as 9.7% in early trade. The stock ended the day at RM1.09, up five sen, or 4.8%, from its previous close as trading volume swelled to 38.22 million shares.

Its warrants topped the active trading list with 47.65 million transacted. They closed 1.5 sen higher each at 40 sen.

The contract awarded in Pengerang, which is the location of Petronas’ Refinery and Petrochemical Integrated Development (Rapid) project, could spur a further re-rating on the stock.

Maybank IB Research said yesterday it was reviewing its RM1 target price for the stock.

“We expect KNM to bag US$1bil (RM3.21bil) worth of Rapid–related contracts, spread over three years,” it said.

Under a blue-sky scenario, the research house said KNM’s target price and earnings could be lifted by 50% if it managed to secure Rapid jobs worth US$1bil.

In a sector update yesterday, Hong Leong Investment Bank (HLIB) Research pointed out the potential of more EPCC jobs being dished out in the third quarter.

“We understand that bidding is ongoing for a total five packages for refinery plant followed by petrochemical complex and liquefied natural gas regasification plant,” said the research unit.

The firm said Rapid was estimated to cost about US$16bil (RM52.5bil) while the associated facilities will involve an investment of about US$11bil (RM36.1bil).

HLIB Research recommended KNM with a target price of RM1.35 as top pick for investors seeking exposure to the Rapid theme.

Source: The Star
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Re: KNM

Postby winston » Wed Oct 01, 2014 12:04 pm

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July 3, 2014

HLIB starts KNM at 'buy'


KNM GROUP BHD

By Hong Leong Investment Bank Research (HLIB)

Buy (Initiation)
Target Price: RM1.35

HLIB Research is initiating coverage on KNM Group with a target price of RM1.35 based on 16 times financial year ending Dec 31, 2015 (FY15) price-to-earnings, which is higher than its peers’ average of 14 to 15 times due to its strong earnings prospects.

According to the research house, the company’s potential to benefit from Petronas’ Refinery and Petrochemical Integrated Development project is a major catalyst.

“With assumption of 12% market share, we expect KNM to bag a total of RM2.2bil in contracts or RM540 per annum based on contract duration of four years,” the research unit said.

It said EnergyPark Peterborough was a game changer for KNM and that phase one of the total 80 megawatts would add 39 sen to its target price.

“With the Europe economy improving and healthier balance sheet due to loan refinancing, KNM is a step closer to achieve financial closure,” HLIB Research added.

It said construction of EnergyPark was expected to start in the fourth quarter of 2014 with contribution anticipated in FY17.

By assuming project internal rate of return of 13%, interest rate of 4% and 80% equity stake, the research house expected phase 1 (23% of total) to generate around RM40mil to the company’s bottomline.

HLIB Research also said KNM’s unit, Borsig, stood to benefit from increased spending from oil and gas majors as economic recovery in the euro zone gained traction.

“From the recently secured 220 million euros loan facility, 160 million euros will be allocated for future working capital.

“This will provide the war chest for future potential contracts.”

The research house said the potential relisting of Borsig in next few years might give better value to KNM.

HLIB forecast its net profit to grow at compounded annual growth rate of 74% from FY13 to FY16 as earnings before interest, tax, depreciation and amortisation margin improve from 10% to 11.7% due to lower financing costs and disposal of loss-making Brazil-based business.


Source: The Star
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Re: KNM

Postby winston » Sat Oct 25, 2014 6:50 am

KNM proposed a one-for-five renounceable rights issue and free warrant on the basis of one warrant for every two rights share to raise up to RM310mil.
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Re: KNM

Postby winston » Sat Jul 06, 2019 6:38 am

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KNM bags RM36mil job in Egypt

KUALA LUMPUR: KNM Group Bhd said an indirect wholly-owned subsidiary FBM Hudson Italiana SpA has secured a RM36.14mil contract in Egypt.

The contract, awarded by Technip Italy SpA, was for the design, detailed engineering and fabrication of air cooler heat exchangers at the Middle East Oil Refinery in Alexandria.

KNM told the stock exchange in a filing today that the purchase order is expected to be completed within 14 months.

Source: The Star

https://www.thestar.com.my/business/bus ... -in-egypt/
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Re: KNM

Postby winston » Wed Sep 18, 2019 9:13 am

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Trading Buy: KNM - 7164
Triangle breakout after a decent consolidation phase
(Last price: RM0.380, Potential upside +31.6%)

Company Profile
KNM is a well-diversified multinational group with core businesses in project management, engineering, manufacturing and construction for the renewable energy, power, utilities, refining and petrochemical industries.

Trading Catalyst

KNM Group Bhd has bagged a contract worth USD12.74m (RM53.3m) in Thailand for the supply of big size CS/CLD columns and vessels up to 60MM for the Clean Fuel Project at the existing major oil refinery in Sriracha, Chonburi, on the east coast of Thailand as operated by Thai Oil Public Co Ltd and the supply and delivery duration of the contract is for a period not exceeding 12 months.

Since 2012, KNM has been toying with the idea of unlocking its wholly owned Germany-Borsig on Singapore Exchange. To recap, KNM has acquired Borsig for RM1.7bn in 2008. Hence, any valuations that are higher than the acquired price tag will be a healthy market catalyst to move KNM into higher territory.

Technical View
Resistance: RM0.415 / RM0.440 / RM0.500
Support: RM0.370 / RM0.360
Cut loss: RM0.355

Source: Bloomberg, HLIB
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Re: KNM

Postby winston » Fri Aug 06, 2021 9:03 pm

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Curious happenings at KNM

by Cheryl Poo

After its extraordinary general meeting on July 8, KNM told Bursa Malaysia that its shareholders had rejected its proposed private placement of up to 987.52 million new shares, or 30% of its issued share capital, to raise RM167.9 million.

It was the group’s fourth private placement in the span of two years, in a continued attempt to improve its balance sheet.

This is in spite of the fact that KNM has raised RM134.05 million in its three placements held between June 2019 and Jan 15, 2021


Source: The Edge Malaysia

https://www.theedgemarkets.com/article/ ... enings-knm
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Re: KNM

Postby winston » Fri Aug 06, 2021 9:05 pm

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July 3, 2021

KNM used to be a darling of the stock market, especially as it focused on the oil and gas sector during the latter’s boom days.

But rapid global expansion, the oil price crash in 2014 and delayed projects, especially its Peterborough waste-to-energy project has left the company struggling.

This week also saw the resignation of four board members just a day before its annual general meeting. This included KNM’s single largest shareholder and executive vice-chairman Gan Siew Liat.

Gan together with KNM’s founder Lee Swee Eng, hold 12.91% of the company.

Last year, Lee stepped down. It isn’t clear who is in the driving seat of KNM today and it could also end up being new owners coming in to replace the old.

Whatever the case, those in charge will have to figure out ways in which to address the declining businesses of the group and its saddling debt issues.

Source: The Star
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Re: KNM

Postby winston » Thu Sep 14, 2023 11:06 am

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German billionaire takes on Malaysian tycoon for KNM control

On Aug 29, Heeschen acquired 320 million shares or a 7.91% stake in KNM, making him the second-largest shareholder.

Within a week, the German entrepreneur and eight other shareholders — collectively mustering a 10.68% stake — launched an attempt to remove Yaacob and other directors at the financially struggling engineering company.

KNM owns two valuable and long-standing companies in Europe.

In Germany, it indirectly controls Borsig GmbH. The 170-year-old company offers customised solutions for process gas waste heat recovery systems, quench coolers, scraped surface exchangers, membrane technology, boiler systems, compressors and valves, as well as comprehensive industrial solutions and services. Heavy duty stuff!

In Italy, it controls FBM Hudson Italiana SpA and FBM-KNM FZCO, collectively as the FBM Group. Founded in 1941, FBM is said to have an established track record in thermal design for air-cooled heat exchangers, process gas waste heat recovery systems, and shell and tube heat exchangers.

KNM posted a pretax profit of RM4.28 million and a net loss of RM19.29 million on the back of turnover of RM342.27 million for the three months from April to June 2023.

For the 12-month period ended June 30, 2023, the company posted a pretax loss of RM83.47 million and net loss of RM157.06 million on turnover of RM1.07 billion.


Source: Malaysian Reserve

https://themalaysianreserve.com/2023/09 ... m-control/
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