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Thursday, March 3, 2011

KNM Group said secured RM693m new orders in 2011 (Edge)

KNM GROUP BHD [] said it has year-to-date secured new orders amounting to RM693 million, underpinned by the bullish sentiment in the global oil and gas industry globally as crude oil surges to record highs.

“The current order book of KNM stood at RM6.4 billion and the backlog at RM5.4 billion,” said the company, which described it as an all time for the group since it was set up,” it said on Thursday, March 3.

KNM said its tender book was RM17 billion, which it said had significantly improved compared with the trough of the sub-prime crisis which was at RM10 billion.

Executive chairman and CEO Lee Swee Eng said the group’s strong order book would keep it busy for 2011 and 2012.

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