KUALA LUMPUR: Diversified process equipment manufacturer KNM Group Bhd expects 70 per cent of its revenue to come from renewable energy, beginning next year. Its renewable energy business will be derived mostly from its Thailand unit — Impress Ethanol Co Ltd (IEL) — of which KNM Group is a majority shareholder with a 72 per cent stake. “By having a recurring source of income from our renewable energy business, we will be able to achieve stability in our income stream, rather than be impacted by economic cycles,” he added. Proceeds from the Thai bonds will be utilised for refinancing IEL debts, future expansion, working capital and other expenses for bio-ethanol plants. United Overseas Bank (Malaysia) Bhd is the principal adviser, while United Overseas Bank (Thai) Public Co Ltd is the lead manager and bookrunner for the proposed Thai bond.

Source: New Strait Times October 11, 2016 03:00 UTC