KNM and ADAP ink O&G JV deal

TheStar Wed, Jul 08, 2020 10:10am - 3 years View Original


KNM announced that its group chief executive officer Lee Swee Eng would be retiring from tomorrow.

KUALA LUMPUR: KNM Group Bhd’s (KNM) wholly-owned subsidiary, KNM Process Systems Sdn Bhd, has signed a joint-venture (JV) agreement with ADAP Capital Sdn Bhd to form a company to undertake oil, gas and petrochemical project in Sarawak.

In a filing with Bursa Malaysia yesterday, KNM said the company would hold 51% equity in the JV company while ADAP would hold the remaining 49%.

“The JV company will engage in engineering, procurement, construction contracts for oil, gas and petrochemical plants; manufacture and supply of process equipment, tanks, piping and structures for oil, gas and petrochemical plants; as well as build, own and operate strategic projects, ” it said.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

BURSA 7.450
KNM 0.080

Comments

Login to comment.