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MAA’s Tunku Yaacob is now chairman of KNM

KUALA LUMPUR (Nov 1): Datuk Tunku Yaacob Khyra has joined the board of KNM Group Bhd as the chairman after MAA Group Bhd bought a 10.38% stake in the oil & gas firm in September.

On top of that, KNM announced in a bourse filing that its wholly-owned subsidiary, KNM Process Systems Sdn Bhd, has secured a contract worth RM20.7 million from Singapore-based Keppel Shipyard Ltd for the supply of a pressure vessel.

It said, the supply and delivery duration of the contract is for a period of approximately 12 months.

Keppel Shipyard is principally involved in the repairing, conversion and upgrading of a diverse range of vessels, according to the group’ filing.   

“The transaction is expected to contribute positively to KNM Group’s earnings for the financial years ending December 31, 2021 (FY21) and December 31, 2022 (FY22),” it said.

KNM’s share price dropped 1.5 sen to 19 sen, giving it a market value of RM620.05 million. The stock has fallen nearly 40% from its recent peak of 31.5 sen in early September.

http://www.theedgemarkets.com/article/maas-tunku-yaacob-now-chairman-knm

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