Nedgeon Actually which part KNM focus on? And the prospect din't mention about hydrogen? But The above comment I saw green hydrogen is very good in future right
Evergrande Group shares in Hong Kong were flat. The embattled developer continued to stay silent on a key $83 million dollar bond interest payment that was due last Thursday.
KUALA LUMPUR (Sept 27): Bursa Malaysia’s Energy Index rose as much as 19.78 points or 2.78% to 731.32 this morning, becoming the top percentage gainer among bourse gauges, after oil prices hit three-year highs. At 10.19am, the index, which tracks share prices of oil and gas (O&G) related companies, settled at 727.82, still up 16.28 points or 2.29%. KNM Group Bhd, which was the most actively traded stock, gained as much as 2.5 sen or 10.87% to 25.5 sen. At 10.19am, the counter had pared some gains at 25 sen, still up two sen or 8.7%, with 73.69 million shares traded. Meanwhile, Bumi Armada Bhd increased by one sen or 2.27% to 45 sen; Perdana Petroleum Bhd grew half a sen or 4.35% to 12 sen. Reuters reported that oil pushed past its July peaks as global output disruptions forced energy companies to pull large amounts of crude out of inventories, while a shortage of natural gas in Europe pushed costs up across the continent. At the time of writing, Brent crude oil had added US$1.26 to US$79.35 (about RM332) a barrel, while West Texas Intermediate crude was US$1.21 higher at US$75.19. ""Supply tightness continued to draw on inventories across all regions," ANZ Research said in a note quoted by Reuters. Rising gas prices also helped drive oil higher as the liquid became relatively cheaper for power generation, ANZ analysts said in the note.
PETALING JAYA (Sept 27): The Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, the Raja Permaisuri Agong Tunku Hajah Azizah Aminah Maimunah Iskandariah and the Yang Amat Mulia Tengku Arif Bendahara visited Battersea Power Station in Central London, United Kingdom, last Friday (Sept 24)
Company Announcement OTHERS Award of Contract by PEC Powercon Sdn Bhd to KNM Group Berhad's Wholly-Owned Subsidiary, KNM Process Systems Sdn Bhd amounting to approximately RM13.4 million
Description: Award of Contract by PEC Powercon Sdn Bhd to KNM Group Berhad's Wholly-Owned Subsidiary, KNM Process Systems Sdn Bhd amounting to approximately RM13.4 million
1. Introduction
KNM Group Berhad (“KNM”) is pleased to announce that its wholly-owned subsidiary, KNM Process Systems Sdn Bhd (“KNMPS”), has on 28.09.2021 signed a contract with PEC Powercon Sdn Bhd for the Pre-Fabrication Tank for Combined Cycle Power Generating Facility of up to 1,200mw at Pulau Indah, Selangor , amounting to approximately RM13.4 million (“Transaction”).
The supply and delivery duration of the Transaction is for a period of approximately 11 months from the date of the contract.
2. Information About the Parties
KNMPS was incorporated as a private limited company under the law of Malaysia on 28 June 1990 and it is principally involved in the design, engineering, procurement and manufacturing of process equipment, including without limitation pressure vessels, reactors, columns and towers, drums, heat exchangers, air finned coolers, process gas waste heat boilers and specialized shell and tube heat exchangers, condensers, spheres, process tanks, mounded bullets, process skid packages and turnkey storage facilities as well as technical and project management services in relation to process equipment, plant facilities and general facilities for the oil, gas, petrochemicals, minerals processing and renewable energy industries worldwide inclusive of solar PV installation work and solar leasing.
PEC Powercon Sdn Bhd was incorporated as a private limited company under the law of Malaysia on 18 February 2020 and principally involve in construction of building n.e.c.
3. Financial Effect of the Transaction
The Transaction is expected to contribute positively to KNM Group’s earnings for the financial year ending 31 December 2021 and 31 December 2022.
4. Risk Factors
The Transaction is subject to certain commercial and financial risks mainly in the power, oil, gas, petrochemical, and energy industries. These include changes in general economic conditions such as, but not limited to inflation, environmental, health and safety regulations, taxation, foreign exchanges, interest rates, labour and material supply, changes in business and operating conditions such as, but not limited to government and statutory regulations and deterioration in prevailing market conditions.
KNM is already operating in these industries and hence would continue to be exposed to risk factors that they currently face whilst operating in these industries.
Although KNM with its vast experience may undertake efforts to mitigate the various risk factors, there is no assurance that any change in the above risk factors will not have a material adverse effect on the business and operations of KNM.
5. Approvals
The Transaction is not subject to the approval of the shareholders of KNM or any regulatory authority in Malaysia or in any other country.
6. Directors' Statement
Having considered all aspects of the Transaction, the Board of Directors is of the opinion that the Transaction is in the best interest of KNM.
7. Directors' and Major Shareholders' Interest
None of the directors and/or major shareholders of KNM, and/or any persons connected with them, have any direct or indirect interest in the Transaction.
8. Documents for Inspection
Details of the Transaction are available for inspection at the registered office of KNM at 15 Jalan Dagang SB 4/1, Taman Sungai Besi Indah, 43300 Seri Kembangan, Selangor Darul Ehsan, Malaysia for three (3) months from date of this Announcement during normal business hours from Mondays to Fridays.
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....
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Posted by investortrader88 > 2021-09-26 09:13 | Report Abuse
https://www.reuters.com/business/energy/15-trillion-global-hydrogen-investment-needed-2050-research-2021-04-26/