KNM Group Berhad (“KNM”) is pleased to announce that its indirect wholly-owned subsidiary, FBM Hudson Italiana S.p.A (“FBMHI”), had today received an award from Technip Italy S.p.A (“TECHNIP”) via a purchase order dated 28 June 2019 issued by TECHNIP for the design, detailed engineering, fabrication and supply of air cooler heat exchangers amounting to EURO7.754 million (equivalent to approximately RM36.142 million based on the exchange rate of EURO1.00 : RM 4.6614) (the “PO”) as part of the expansion and modernization projects of the Middle East Oil Refinery located at Alexandria, Egypt as managed by the Middle East Refining Limited (“MIDOR”).
The design and supply duration of the PO is for a period not exceeding 14 months from the date of the PO.
suddenly all those dumb cunts that were bashing this counter went MIA, one dumb cunt said this counter no hope, another dumb cunt said this counter will drop today *eye rolling*
Ok back to the topic.... I admire you la, madam venfx.....you bought Eg above 1.00 and average down on year 2017.... you are truely a professional trader, lol
Can you share with me your secret of success, madam venfx? lol
Posted by VenFx > Jan 16, 2017 1:07 PM | Report Abuse
I would pay close attention to see hiw things are evolved, frankly this is an deeply undervalued counter in my watch list still. If everything set out well accept by the market, $1.30 - 1.50 will be on the card.
Posted by VenFx > Jun 20, 2017 11:42 PM | Report Abuse
Also BORSIG may be a big name in Europe, but it's not like KNM just acquired it yesterday.
KNM acquired BORSIG in 2007/08 at a huge premium and with debt. That royally messed up its balance sheet. If BORSIG is that great, why did KNM's share price fall from RM8 in early 2008 to RM0.07 in end 2018?
Yes, BORSIG is a big name. I acknowledge that fact. But its KNM management's long and arduous shift away from O&G and project-based jobs to WTE and recurring income type. It is the change in biz strategy that is now bearing fruit.
So no. It's not just because of BORSIG because that is not an accurate assessment.
1) I never said BORSIG was not capable. In fact, I acknowledge that its huge and I'm well aware of its history
2) If KNM's management did not shift its biz strategy from O&G and project based, even BORSIG wouldn't be able to save the Co. Doesn't mean BORSIG is not big or not capable, just means that management eventually made the right business call.
3) You said KNM bought BORSIG in 2006. This is factually wrong. Clearly states in the announcement below agreement to purchase 100% of BORSIG on 29 Feb 2008.
PROPOSED ACQUISITION BY KNM PROCESS SYSTEMS SDN BHD ("KNMPS"), A WHOLLY-OWNED SUBSIDIARY OF KNM, OF 100% EQUITY INTEREST IN BORSIG BETEILIGUNGSVERWALTUNGSGESELSCHAFT MBH (“BORSIG”) FOR A CASH CONSIDERATION OF EURODOLLAR ("EURO") 350,000,000 ("PROPOSED ACQUISITION")
Contents On behalf of the Board of Directors of KNM ("Board"), Aseambankers Malaysia Berhad (“Aseambankers”) wishes to announce that KNMPS had on 29 February 2008 entered into a sale and purchase agreement ("SPA") with the vendors as listed in Table 1 attached (“Vendors”) to acquire 100% equity interest in Borsig, comprising 12 fully paid-up ordinary shares ("Sale Shares") for a total cash consideration of Euro350,000,000 ("Cash Consideration"). The Cash Consideration is equivalent to approximately RM1,669,500,000 based on an exchange rate of RM4.77:Euro1.00.
4) You said "BORSIG was the main contributor to the KNM performance. That is why that time KNM was more than RM8"
This is also factually inaccurate. How can BORSIG contribute to KNM if it was only acquired in 2008?
Also KNM's share price was around RM8 before BORSIG acquisition. Go have a look at the historical charts.
I understand you believe in KNM and want to promote this stock. I also believe in the turnaround story of KNM. But you've got to get your facts right.
RM36m is chicken feed for Knm. Something big are coming both domestic n international and corporate news. Watch out! May hit the target price Sardin imagine. Sardin, don’t go away, watch the trading screen tomorrow.
I hope my insider is correct because according to him today would be Fryday. Yesterday was supposed to push the price down to prepare for today but for some reason it didn't happen.
very sohai... I said I wanted top up... I should be rich than you... Because I even pawn underwear to buy now... Easily rm3 and now only 0.3... Is 1000%. Only stupid do not buy.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tkl88
8,712 posts
Posted by tkl88 > 2019-07-04 13:55 | Report Abuse
Show will be start in the afternoon session 2.30pm...
Today probably will spike up to closed at 0.40 (+0.105) (+35.6%) !
Huat ah ! Heng ah ! Ong ah !