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June 01, 2015 10:41 PM ET

Energy Equipment and Services

Company Overview of KNM Process Systems Sdn Bhd

Company Overview

KNM Process Systems Sdn Bhd designs, engineers, and manufactures process equipment for oil, gas, petrochemicals, minerals processing, and energy industries. The company offers 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. It also provides technical and project management services to process equipment, and plant and general facilities. The company was incorporated in 1990 and is based in Seri Kembangan, Malaysia. KNM Process Systems Sdn Bhd operates as a subsidiar...

15 Jalan Dagang SB4/1

Taman Sungei Besi Indah

Seri Kembangan,  43300

Malaysia

Founded in 1990

Phone:

60 3 8946 3000

Fax:

60 3 8943 4781

Key Executives for KNM Process Systems Sdn Bhd

Head of Export Sales
Age: 57
Head of Purchasing
Compensation as of Fiscal Year 2014.

KNM Process Systems Sdn Bhd Key Developments

KNM Process Systems Sdn Bhd Bags Projects in Pengerang, Turkmenistan Worth $56.67 Million

KNM Group Bhd announced that its associated company has been awarded with two projects related to the Pengerang Integrated Petroleum Complex (PIPC) and Turkmengas Petrochemical Complex (TGPC) in Turkmenistan totaling $56.67 million. KNM said for PIPC project, its unit KNM Process Systems Sdn Bhd received contracts from Toyo Group to supply columns, reactors, drums and tanks amounting to $33.53 million and Tecnicas Group for the supply of reactors, columns and pressure vessels totaling $15.17 million. KNM Process Systems also received a $7.97 million project from Toyo Group for the supply of towers at TGPC project. The contract period for the projects run between 12 months to 18 months.

KNM Process Systems Sdn Bhd Enter into Joint Venture Agreement with Hansol EME Co., Ltd

KNM Group Berhad announce that on 16 March 2015, KNM Process Systems Sdn Bhd had entered into a Joint Venture Agreement with Hansol EME Co., Ltd. to set up a joint venture company called Hansol KNM Greentech Sdn. Bhd. JVCO was incorporated on 16 March 2015 with an authorized share capital of MYR 1,000,000.00 divided into 1,000,000 ordinary shares of MYR 1.00 each and its issued and paid-up capital is currently MYR 2.00. JVCO's intended principal activities are the undertaking of engineering, procurement and construction of mutually identified biomass waste projects. KNMPS and Hansol intends to invest in the JVCO on 40% KNMPS: 60% Hansol basis and upon completion of the JVA, the paid up capital of JVCO shall be MYR 1,000,000.00. Hansol shall act as the leader of the JVCO in the negotiation and successful implementation of any business opportunities of the JVCO, and to execute the overall management and coordination of the parties’ combined activities. The parties shall be responsible and liable in respect of the execution and completion of works, services or supplies to be performed or provided by the JVCO in relation to any business opportunities in proportion to their participation ratio. The JVA may be terminated upon occurrence of the following events: the Parties are not able to agree upon a mutually acceptable contract with the third party/customer involved in the business opportunity; the third party/customer involved in the business opportunity has terminated its contract with the Parties provided there are no liabilities to be adjusted between the parties; the contract with the third party/customer involved in the business opportunity has been fully performed in accordance with its terms and conditions, full and complete payment has been made thereon and all rights and liabilities of the said third party has terminated or expired and there are no liabilities to be adjusted between the parties under the JVA; or the parties agree in writing to terminate the JVA. KNMPS shall subscribe for 400,000 new shares in the JVCO at par value of MYR 1.00 each. The total subscription consideration shall be fully settled in cash through internally generated funds and/or shareholders’ advances. The JVCO will complement KNM’s existing engineering, procurement, construction and commissioning businesses to undertake specific projects with Hansol.

High Court in Malaysia Rules that KNM Process Systems Sdn Bhd is Liable to Make the Material Payment to Axens

Mission NewEnergy Limited announced that the High Court in Malaysia has ruled that its subsidiary Mission Biofuels Sdn Bhd (MBSB) is not liable to pay several unpaid Invoices amounting to approximately USD 800,000 to Axens, the technology supplier of MBSB's 250,000 tpa biodiesel plant. Instead the court ruled that KNM Process Systems Sdn Bhd (KNM), the contractor, is the party that is liable to make the material payment to Axens. KNM failed to pay Axens who then sought to recover the payment from KNM and/or Mission. During the trial KNM claimed that it should be MBSB's responsibility to pay Axens and not KNM's. The Court further allowed MBSB's counter claim against KNM for several invoices amounting to approximately USD 370,000 that MBSB had paid on behalf of KNM to Axens.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 6, 2015
KNM Pty Ltd.
 

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