Lee Swee Eng, managing director and acting chairman of KNM Group Bhd (KNM), said he would not rule out the possibility of a future privatisation exercise. The stumbling block was the funding issue. If the opportunity arises, it will look into it.
The oil and gas fabricator came into the spotlight in February 2010, when a trio of suitors acting in concert, offered to acquire KNM’s entire business and undertakings for 90 sen a share or an estimated RM3.5 billion. The bidding companies included a vehicle of Lee’s, BlueFire Capital Group Ltd, as well as GS Capital Partners and Mettiz Capital. Mettiz Capital is owned by Michael Tang Vee Mun, while GS Capital Partners is a unit of Goldman Sachs.
Lee is the major shareholder of KNM, holding an indirect stake of 22%.
Despite the setback, KNM was looking to replace the current low to mid-end process equipment with higher-end products and services. The products would be offered at a “significant” reduction similar to European equipment.
This move comes in line with the company’s RM1.42 billion tax incentive, which arose from the acquisition of Borsig GmbH by KNM’s wholly owned subsidiary KNM Process Systems Sdn Bhd in 2008. The tax incentive represents 83% of Borsig’s purchase price of €350 million (RM1.7 billion).
Borsig is a German company whose subsidiaries are in the development, manufacture, installation and maintenance of plant and processing equipment in the chemical, petrochemical, oil and gas, power and industrial service industries.
KNM would leverage on the technology from Borsig to move up value chain. Borsig is a German company whose subsidiaries are in the development, manufacture, installation and maintenance of plant and processing equipment in the chemical, petrochemical, oil and gas, power and industrial service industries.
KNM had on Feb 29, 2008 signed a sale and purchase agreement to acquire 100% of Borsig for cash consideration of Euros 350 million. The cash consideration was then equivalent to about RM1.669 billion based on an exchange rate of RM4.77:Euro1.00.
Low and mid-end products tend to come under pressure in a downturn such as this. KNM has tough competition from Korean and regional firms. It will duplicate the manufacturing process of the European factories in its Malaysian factories to substitute the lower product line in Asia Pacific.
KNM’s plant in Gebeng, Kuantan would manufacture Borsig process equipment and implementation would be completed by the end of 2010. The new products would be realised in 2011.
The improvement over 2009 will be reflected in 2Q of 2010 rather than 1Q2010.
KNM increased its order book to RM2.1 billion from RM1.5 billion a year ago. The order book, which consists mainly of Middle Eastern and Australian orders, is expected to last 18 months.
The commissioning date of KNM’s plant in Saudi Arabia is estimated to be a further two months later than the original target of mid-2010, as the company has yet to obtain full approvals.
For its first three months of FY2010, KNM posted a net profit of RM40.33 million on the back of RM373.30 million in revenue. Earnings per share stood at 1.02 sen. In contrast to the corresponding quarter a year ago, KNM’s net profits tumbled 59% while revenue fell almost 29%.
The fall in net profits and revenue was mostly due to the dull market and the collapse in the price of oil in 2009.
The company also repurchased 21.4 million shares during the financial year ended Dec 31, 2009. This was due to KNM’s strong cash position and its perception that the stock was undervalued at the time.
As at end-March 2010, KNM had cash and cash equivalents amounting to RM496.67 million.
It has increased its order book to RM2.1 billion as for now from RM1.5 billion a year ago. The book order was enough to last 18 months.
Scan 05 Nov 2024
-
Symbol TypeDateClose PriceVolume13 Day RSI
ANCOM Overbought 11/5/2024 1.07 1590300 74.36
CYPARK Overbought 11/5/2024 0.84 7540100 74.73
HARTA Overbought 11/...
57 minutes ago
67 comments:
buy tramadol online tramadol qt - tramadol online sales
xanax online xanax overdose effects brain - buy xanax with paypal
buy tramadol online order tramadol health solutions network - tramadol no prescription overnight cod
xanax mg xanax effects relationships - xanax xr recreational use
buy tramadol online order tramadol next day delivery - tramadol toothache
xanax online xanax cheap online no prescription - xanax online doctor
buy tramadol online no prescription cheap tramadol shipped with no prescription - tramadol 100mg dosage
generic xanax much 1mg xanax worth - xanax side effects addiction
buy cheap tramadol tramadol for dogs in humans - buy tramadol online free shipping
generic xanax does xanax show up in a pre-employment drug test - xanax 1 mg pic
generic xanax mixing xanax and alcohol 2 boards - xanax drug test half life
buy tramadol online order tramadol online next day - tramadol use in dogs
buy carisoprodol what is carisoprodol 350 mg tablet for - carisoprodol nursing implications
buying xanax online no prescription yellow xanax bars 106 s - generic equivalent of xanax
buy tramadol online buy cheap tramadol usa - buy tramadol london
carisoprodol no prescription side effects of soma carisoprodol tablets - carisoprodol names
tramadol without prescription buy tramadol cod fedex - tramadol buy online
xanax no prescription online can xanax and alcohol be mixed - does xanax show up on a 7 panel drug test
xanax online xanax drug classification pregnancy - xanax generic india
soma carisoprodol buy carisoprodol online no prescription - carisoprodol soma ingredients
order carisoprodol online buy carisoprodol no prescription - carisoprodol 350 side effects
buy tramadol online tramadol 50 mg kapszula - tramadol dosage supplied
xanax online generic xanax stamped g3721 - xanax anxiety medication
cheap tramadol is it legal to order tramadol on line' - zytram xl tramadol hcl
tramadol no prescription tramadol 50mg (generic ultram) - tramadol addiction potential
xanax online xanax effects thyroid - mix of xanax and alcohol
cialis online cialis prescription coupon - buy cialis online usa no prescription
generic cialis tadalafil cialis online apotheke - cheap cialis usa online
xanax online buy xanax online from canada - xanax overdose 2 mg
cialis no rx buy cialis online overnight shipping - generic cialis 4rx
cialis online cialis bathtubs - where can i buy cialis brand name
buy cialis no prescription cialis online legale - cialis 0 2
tramadol 50 tramadol hcl 50 mg dogs - tramadol online yahoo
buy generic tramadol no prescription beat tramadol addiction - tramadol to buy in usa
http://landvoicelearning.com/#51438 buy tramadol hcl online - tramadol 100mg buzz
buy tramadol buy tramadol online visa - tramadol-no-prescription
tramadol no prescription tramadol hcl recommended dosage - nebenwirkungen von tramadol 100mg
http://landvoicelearning.com/#74967 online pharmacy review tramadol - tramadol ingredients acetaminophen
buy tramadol can you buy tramadol online no prescription - buy tramadol legit
where to buy tramadol tramadol dosage overdose - buy tramadol online usa
legal buy tramadol online tramadol hcl uses - buy cheap tramadol usa
tramadol online tramadol for dogs after surgery - long does 50mg tramadol take work
http://buytramadolonlinecool.com/#30694 amneal tramadol ingredients - why can you buy tramadol online
buy tramadol tramadol effects - tramadol 50 mg every 4 hours
http://blog.dawn.com/dblog/buy/#38179 tramadol time release - buy cheap tramadol cod
buy tramadol online cheap what is tramadol 50 mg street value - tramadol to order on line
learn how to buy tramdadol tramadol 50mg value - buy cheap tramadol no prescription
buy tramadol online purchase tramadol online cod - tramadol hcl tablets 50 mg
http://landvoicelearning.com/#51438 tramadol or 100 mg side effects - tramadol withdrawal while pregnant
purchase tramadol tramadol withdrawal breathing - tramadol hcl medicine
buy tramadol tramadol online overnight - tramadol dosage mims
learn how to buy tramdadol generic tramadol hcl - tramadol ultram online
http://landvoicelearning.com/#21906 tramadol dose vet - can you buy tramadol online in usa
ativan no prescription ativan street use - ativan versus xanax dosage
buy tramadol tramadol dosage moderate pain - tramadol get high off
buy tramadol online tramadol online no prescription - buy tramadol online cod
http://reidmoody.com/#36921 ativan price per pill - ativan used
http://reidmoody.com/#51208 lorazepam 1 mg price walmart - long break ativan addiction
buy ativan online ativan 2mg high - ativan dose alcohol withdrawal
Thanks for ones marvelouѕ ροsting!
I гeally enjoyed reаdіng it, you might bе a great
аuthor. Ι will alwауs boоkmark уouг blog and ωill соmе baсκ in the
future. I ωаnt to encourage you continue
your greаt poѕts, have a nice mornіng!
Feel freе tο surf tο my ωebsіte
:: facts about steroids
http://staam.org/#10699 dealing with tramadol addiction - tramadol 50mg information
buy tramadol online tramadol dosage webmd - tramadol overdose seizure
buy tramadol online tramadol for dogs buy - can you buy tramadol on the internet
buy tramadol online what is ultram tramadol hcl - tramadol tablets
http://ranchodelastortugas.com/#50698 xanax online cheap no prescription - images for generic xanax
alprazolam xanax xanax drug family - cheapest xanax online no prescription
Sometimes seasons reasons some shoes may ethical be[url=http://niketrainersuksale.webeden.co.uk]Nike Air Max[/url]
in do not prerequisite the unplanned to[url=http://tomscanadaoutlet.snappages.com]Toms Shoes Canada[/url]
survive such shoes we from to[url=http://addnikecanadastore.snappages.com]Nike Shoes Online[/url]
politely double-cross them from the[url=http://louboutintrainersuk.blog.co.uk]http://louboutintrainersuk.blog.co.uk[/url]
right standing in to circumvent supererogatory injure to shoes[url=http://salelouisvuittonuk.webeden.co.uk]Louis Vuitton Outlet[/url]
Power be a insole can be so rotten, it'll shortage to take a mellifluous gather and sea water gently scrub. Is typically noted that, avoid chemical cleaning agents cleaning, or individuals win the insole the top of material off.[url=http://shoppradabagsuk.webeden.co.uk]Prada Sale[/url]
Post a Comment