Thursday, June 30, 2011

KNM active, up in early trade

KUALA LUMPUR: KNM GROUP BHD [] shares were actively traded on Thursday, June 30 after the company said it expects a 20% success rate from the RM17 billion worth of contracts it had tendered for as at end-May.

At 9.10am, KNM rose six sen to RM1.90 with 1.72 million shares traded.

Its group managing director Lee Swee Eng said yesterday he was also positive on the outlook in the second half as the contracts secured last year were now being realised.

"For our tender book, the success rate before 2008 was in the range of 25% to 30%. But since the last two years due to the competitive market, we have seen our success rate at 20%. So assuming that you can get 20% of RM17 billion, maybe we have a prospect of RM3.4 billion of new orders," he said.

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