Tuesday, June 5, 2012

KNM ... Jun12

KNM Group Bhd’s proposed US$222 million waste to energy projects in Sri Lanka awarded by Octagon Consolidated Bhd may encounter obstacles as the latter undergoes a restructuring under Sect 176. This is in anticipation that Octagon will not have enough adequate funds to finance its projects in Sri Lanka as the company restructures its debt. The impact could be substantial for KNM as the rm706 million job accounts for about 20% of the process equipment manufacturer’s rm3.2 billion order book.
 
KNM had finalized most of its kitchen sinking exercise which included provisions for doubtful debts and foreseeable losses in 2011. KNM is starting on a clean slate for FY2012 ending Dec 31.
 
KNM’s rm3.2 billion order book exclude the rm2.2 billion Energy Park Peterborough waste to energy project in the UK . The project has yet to secure financial closure. Including Energy Park , KNM’s order book comes to rm5.4 billion while its project tenders amount o rm16 billion.
 
In mid May 2012, the High court of Malaya approved Octagon’s application for legal protection against bankruptcy. This comes in the form of an ongoing three month restraining order between May 16 2012 and Aug 2012. The restraining order follows Octagon’s announcement in Dec 2011 of its debt restructuring scheme which may include a proposed capital reduction and debt settlement with the company’s lenders.
 
To recap, in Oct 2011 Octagon awarded two waste to energy projects in Sri Lanka with a combined value US$2.2 billion to KNM. They were the construction of a US$22 million advanced thermal gasification reactor and a US$200 million waste to energy facility in Sri Lanka ’s capital Colombo .
 
KNM is now undertaking oil sand projects in Canada where oil majors have pumped in more investments.
 
Going forward, KNM’s prospects remain uncertain:- ability to maintain its financial performance, ongoing sovereign debt crisis in Europe may curb oil demand and delay global oil and gas projects, KNM will still have to compete with rival process equipment producers from China and South Korea for more jobs.

20 comments:

  1. order tramadol online tramadol clorhidrato 100mg gotas - buy tramadol ireland

    ReplyDelete
  2. order xanax online different mg xanax pills - xanax pills types

    ReplyDelete
  3. buy tramadol online tramadol withdrawal hell - tramadol dosage strength

    ReplyDelete
  4. alprazolam drug xanax effects relationships - xanax xr recreational use

    ReplyDelete
  5. cheap tramadol tramadol withdrawal leg cramps - tramadol hcl webmd

    ReplyDelete
  6. tramadol 50 tramadol brand name ultram - high on tramadol 50mg

    ReplyDelete
  7. buy tramadol online tramadol with hydrocodone - tramadol withdrawal hell

    ReplyDelete
  8. buy tramadol online tramadol hcl for migraines - can take 100mg tramadol hcl

    ReplyDelete
  9. buy tramadol online tramadol 100mg caps - tramadol withdrawal zaps

    ReplyDelete
  10. cialis online coupon for cialis - cialis 36 hour

    ReplyDelete
  11. buy cialis 10mg buy cialis no prescription paypal - reviews of cialis

    ReplyDelete
  12. cialis online cialis online 4rx - cialis how does it work

    ReplyDelete
  13. http://landvoicelearning.com/#38471 tramadol hcl for toothache - tramadol canine dosage

    ReplyDelete
  14. http://landvoicelearning.com/#38471 tramadol online pharmacy - order tramadol online overnight shipping

    ReplyDelete
  15. http://buytramadolonlinecool.com/#28875 buy tramadol online without script - discount tramadol online

    ReplyDelete
  16. where to buy tramadol online where can i buy tramadol online usa - tramadol zolpidem

    ReplyDelete
  17. buy tramadol online what does tramadol high feel like - buy tramadol overnight saturday delivery

    ReplyDelete
  18. http://staam.org/#74560 tramadol dosage german shepherd - tramadol hcl (zydol)

    ReplyDelete
  19. http://bayshorechryslerjeep.com/#1833 what is xanax side effects - xanax and alcohol fun

    ReplyDelete