Wednesday 22 August 2012

News - KNM Group : Pins hope on UK job


KNM Group Bhd (RM0.715/share)
Pins hope on UK job
Nearly two years after its proposed RM2.2bil waste-to-energy project in the UK, KNM Group Bhd (KNM) says it is close to securing financials for the job that is crucial to regain investor confidence in the process equipment manufacturer.
The company, which has fallen off the radar of most investment houses after a wrongly timed expansion at the height of the financial crisis in 2008, said Exim Bank is the lead arranger for a syndicated loan for the project. The project, which will generate electricity from a biomass and waste-recycling facility within the Peterborough enclave in the UK, makes up some 43% of KNM’s RM5.1bil order book.

According to KNM, it will capitalise on the expertise of its wholly-owned unit Borsig GmbH, which is based in Germany, to undertake the UK project. – The Edge

Source: Kenanga

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