the NTA reflects an extra 1.2B that should not be there. that is why they have a qualified audit..

time passes.. and still, YNH is alive amazingly. but they have yet to answer for the missing 1.2B in JV payments that were sent to empty shell companies controlled by a group of 4 key related parties (friends and family members of the Yu Brothers). Then the crooked deals by Daniel, the boy Wonder, and his second wife with the crooked sale of material assets to a fake trust. The board has a lot to answer for. The bondholders will be paid from where? the books are cooked until empty one, gone with the wind......

AGM today, controlled by TY and his crooks. Don't get your hopes up. They won't loose no matter what happens. Cheat, cheat, cheat. What we really need is the police to step up.

Ravi is just a TY puppet like the rest of the BOD. I am voting to remove them. They are just opportunist finding ways for personal enriching themselves and TY from the assets. 2.1m for Ravi is a bribe. He si not with 5k a month. They must be ousted.

WOW, Tunku Yaacob is so incompetent he can't complete a normal audit.

Woodswater, any spin-off of Borsig to a public market has always been a joke played on shareholders by TY. A company that derives its revenues and income from Iran is not going to qualify on any public markets. you would have to be very dense to believe otherwise.

Adagold, I find nothing to support your story about the German supporting Israel. We all support the freedom of Palasinte as does the majority of the world's people. Just because someone once holds shares of a company that sells arms to the world's police forces does not mean that he or his old company supports Israel. That is like saying that we should ban all durian farms because they have been found in Israel. Provide real evidence and maybe I will support what now is just false propaganda pumped by losers like Ravi and Steve Ho.

If someone wants to take over KNM, I don't think they care if it is at .065 or .05. so this is also nonsense. if they want to take over, then just do so. I think all shareholders would welcome any alternative to the do-nothing useless corrupt team that is wrecking KNM now. I would vote for my grab driver over TY any day to fix KNM. At least we would have a chance to find a non-corrupt person to run the company.

TY is broken and can't digest KNM like he planned. He is in too deep to survive. He is too arrogant to ask for help. He is cheating to stay in control in hopes of recovering by finding a buyer and under-the-table money from some of KNM's assets. but we are all watching. He won't get away with anything. Creditors first, second the shareholders.

The AGM is upon us, but all we have is the ability to remove the crooks temporarily. We know the remaining board will just reappoint the same crooks back like they did with Steven Ho last year.

This management team does not know how to blow up a balloon let alone run a process equipment business. I see only a liquidation by creditors as a solution now. at least that would achieve about 50% on the dollar for creditors, but shareholders will be left with nothing.

Everyone should read the story, and be aware that TY and his buddies at MCMC may block access to it. So be prepared to use a proxy to access it.

https://infopulsetoday.com/tunku-yaacob-knm-vote-rigging-scandal/

We can't forget that it was LSE who started the downfall of KNM with his ESOS games, insider trading, and illegal corporate activities. He brought TY to KNM when he and his family was ousted by shareholders and the authorities. Is it not hard to connect the dots when you learn that TY obtained his controlling shares from LSE in an off-market deal when he took control over KNM. Until these crooks are removed from KNM, it will do nothing but fail. nobody but other crooks will do business with KNM.

Maybe that is why MAA had to loan KNM 2.1 million to pay KNM's CEO Ravindrasingham Balasingham (Ravi) salary. After all, someone will have to become the fall guy! He certainly does not deserve such a salary, nor is he entitled to it. He is not qualified in the world of engineering as we all know. When it comes down to it, we know he will escape to the UK where he is a resident, and live happily after.

Likely TY and his syndicate alongside the trusty former MAA CEO, now CEO of Bursa Datuk Muhamad Umar Swift have slowed the process and have manipulated the system. It is hard to say if justice will prevail and charges will be made against those involved in the fraudulent voting and forged proxy forms.

I just found a story from March that explains many of the details. With Swift as CEO of Bursa, we know, as usual, nothing will happen to TY even if he is caught red-handed. The third-tier prince from Negeri Sembilan has a long history of intimidation and paid connections that should allow him to successfully escape from liability. However, in recent times, it is rumored that TY has failed to deliver promises to most of his followers requiring him to prepay for his corruptions.

Here we go with KNM! AGM time again. Probably the last one this time. Tunku Dato’ Yaacob Khyra (TY), KNM's Chairman, and his syndicate of crooks cheated the last EGM and lost the election by more than 10%. But it does not seem to matter to anyone. I wonder what he is hiding inside of the KNM Books and records that he needs to take such risks?

Most of us knew TY would cheat the moment the details of the EGM emerged. German investor Andreas Heeschen made a well-intentioned yet naive attempt to salvage KNM, only to be outmaneuvered by TY’s manipulations, leaving the foreign investor wary of further Malaysian ventures. Instead of manning up and taking action, Heeschen went back to Germany with his tail between his legs. The German attempted to take over KNM with the wrong type of EGM enabling TY to activate his cheating.

A police report was made and an investigation has been underway for some time, 100’s of shareholders has been interviewed. KNM staff members, the Group CEO along with the COSEC have been remanded and questioned by Bukit Aman Commercial Crime Investigation Department (CCID). We all know how long it can take for Justice to be served in Malaysia if at all.

Here is another link. I see it everywhere now.

https://infopulsetoday.com/tunku-yaacob-knm-vote-rigging-scandal/

Tunku Yaacob Khyra: The Mastermind Behind KNM Group Bhd’s Vote Rigging Scandal:

Wow, you have to remember to check the internet news with a proxy or VPN these days. So much is blocked about KNM and the crooks running it. Shame on our MCMC for supporting fraudsters Like Tunku Yaacob Khyra and his failed MAA management running KNM.

If you can't access the link below, here is a small part of it exposing Tunku Yaacob:
Unfolding Allegations and Key Developments:

The scandal has unraveled further with the disclosure of communications from shareholders in reference to the KNM extraordinary general meeting (EGM) results from the 16 October 2023 election. These shareholders have expressed their outrage upon discovering that their names and shares were used without their consent, seemingly to secure Tunku Yaacob’s position at the helm. This misuse of shareholder identities has severely compromised the EGM’s integrity and placed Tunku Yaacob as the primary beneficiary of this fraudulent scheme.

The gravity of the situation was highlighted by the CCID’s intervention, where documents were seized from the Company Secretary’s office and the voting registrar. The focus was on suspected forged proxy forms. More than ten shareholders have reported that they were contacted by the CCID and interviewed, only to discover that their names were used and signatures forged.

https://businesssuntimes.com/tunku-yaacob-knm-vote-rigging-scandal/

We need to find honest people to run public companies.

TY forced MAA to buy 91 million KNM shares at double the market price with an immediate loss of RM 7,280,000 because TY made a personal deal with his friend to help him win the KNM EGM? How can the MAA shareholders absorb a loss like this without shareholder approval? I thought this was a public company. Can we hold the Board personally liable for this loss? how can Bursa allow this? Where is the SC?

T. YAACOB VIA MAA PURCHASE OF 2.25% STAKE IN KNM ON 8.02.2024

Ref. is made to the 2.25% KNM stake purchase at double market price by T. Yaacob, equivalent to 91,000,000 KNM shares.

This off-market deal at 0.165sen/share follows the announced intention to deal within a closed period (announced on 6.02.2024) and was made on 8.02.2024 with MAA Berhad (TY) increasing its stake in KNM at the same price paid in October 2023 by Datuk Seri Mahmood Taib, who entered as significant shareholder with a 5.06% stake, later reduced below the threshold amount of 5%. T. Yaacob was committed to buying back all of DS Mahmood shares at the same price paid by the latter. This deal represents for MAA a loss of 0.080 per share [0.165sen less 0.085sen].

TY forced MAA to buy 91 million KNM shares at double the market price with an immediate loss of RM 7,280,000 because TY made a personal deal with his friend to help him win the KNM EGM? How can the MAA shareholders absorb a loss like this without shareholder approval? I thought this was a public company. Can we hold the Board personally liable for this loss? how can Bursa allow this? Where is the SC?
T. YAACOB VIA MAA PURCHASE OF 2.25% STAKE IN KNM ON 8.02.2024
Ref. is made to the 2.25% KNM stake purchase at double market price by T. Yaacob, equivalent to 91,000,000 KNM shares.
This off-market deal at 0.165sen/share follows the announced intention to deal within a closed period (announced on 6.02.2024) and was made on 8.02.2024 with MAA Berhad (TY) increasing its stake in KNM at the same price paid in October 2023 by Datuk Seri Mahmood Taib, who entered as significant shareholder with a 5.06% stake, later reduced below the threshold amount of 5%. T. Yaacob was committed to buying back all of DS Mahmood shares at the same price paid by the latter. This deal represents for MAA a loss of 0.080 per share [0.165sen less 0.085sen].

Haha.. there is a photo of the land title in the article. Very strait forward. Who are you @gmsyhy88 to define the news for people. We smart enough to decide what is right and wrong without your help.

Wow, seems the assets of YNH are being taken. What's next?

https://infopulsetoday.com/ynh-property-sukuk-crisis-collateral-seized/

Hcthey, just read the auditors report. Check the news all posted in the past here in the forums. These are not things to discuss and form opinions. They are just the facts. The YU family has caused all this mess in the market with books that after 18 months can't be audited resulting in the auditors to resign. JV deposits showing as an asset are not assets as currently booked. How to collect 1.2b in deposits from a bunch of RM 2 companies?

Those comments about NTA are just wrong. The NTA is stated at 2.20/share. This in a qualified audited where 1.2B in assets from phony JV deals is included. The math is simple here. 2.20*NOSH 528 million shares is RM1.167b. Less the bad assets of 1.2b means the NTA is below Zero....

You cannot simply trust everything in the financial statement. It's got issues, lah. The Auditors, they cannot confirm if these "JV" deals listed as assets in the balance sheet are of any real value. You need to remove 1.1B in assets from the balance sheet before you start analyzing the numbers. If not, you'll definitely make a mistake in your calculations. Also, you should know that most of the debt facilities, including the bonds, are defaulted and are just waiting for foreclosure or to be frozen. The assets that the management is claiming are not legitimate, as confirmed by the auditors. Yu Kuan Huat, Yu Kuan Chon, and Daniel Chan are all going to be held responsible for all these dodgy assets. This situation has really affected the whole market, lah. These three are going to have a tough time explaining themselves to the lenders and those who depended on them. Really, I wouldn't want to be in their shoes.

Raid or no raid lah.. it is not the beach club. The point is an investigation is confirmed about all the never ending hanky panky of Tunku Yaacob and his incompetent management. It never ends. Can't even do an honest EGM.

It seems the wheels of justice are finaly turning. Now the authorities are seizing documents for an investigation. Must be about that phony guarantee that Tunku Yaacob gave to FBM in the whistleblower report.

https://focusmalaysia.my/bukit-aman-cops-raid-knms-cosec-and-registrar-offices-seize-biz-documents/

It is good to see more truth being revealed on this knm management team. It has not been a secret that Golden Powers would not be able to approve the fbm deal. They just wanted to use it to appear as if they were doing the job. Clearly TY and his yes men have no clue what they are doing.

I learned last week that in thailand that CGIF has started foreclosure proceedings on the Thai asset. This is thenethanol plant that needs to be turned back on to produce revenue for KNM.

This should have been a material announcement to the market. Not hidden behind a bogus plan to asset strip the company.

It is time this KNM Board of Directors stands down. The level of incompetence is overwhelming.

It is much more revealing to look at your account opened yesterday:
Alister88 | Joined since 2023-11-04

You are the troll.

Trolls trolls and new trolls... please welcome todays new troll:

YusufM | Joined since 2023-11-05

it is always an interest to see how Tunku Yaacob, Ravi, and the respective Trolls try to twist the truth away from even the High Court Judge ruling.
Kindly ignore whatever these trolls have to say. these accounts were set the moment that the EGM to try to kick out Tunku Yaacob and his yes-men was noticed:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

Well, there you go again Trolls, trying to rewrite my words into some false narrative and now creating conspiracy and links that don't exist. You just can't discuss the facts and the truth of the situation.

Tunku Yaacob had nearly 2 years with his Yes men in charge and they accomplished only to spend millions to end up with an Explanatory Statement that was thrown out by the Judge before it could even be voted upon. it was described as an asset-stripping exercise that would result in less for the creditors and shareholders than a liquidation. I should have never believed him and I will no longer support him like the rest he screwed over. That makes me angry, he is as incompetent as his trolls to think we are just going to stand by. Directors need to be held accountable to stakeholders for this waste of money and time.

Tunku Yaacob sells FBM, a golden power company in Italy. They purposely failed to notify and apply for permission for the sale because they were selling it to a buyer they knew would not qualify. I want to see a detailed audit of where those funds went. Ravi and Tunku Yaacob both well know that this transaction can never be approved and therefore how can they represent that it will to creditors and shareholders?

The Story about an IPO in Singapore for a company that does business with Iran is also a knowingly false representation. The laws about doing business with sanctioned companies in Singapore and very strict and clear. Even if Borsig can legally do so in Germany, they won't be able to in Singapore. Do you see any great mitigation of that issue, or are you trolls and Tunku Yaacob's Yes men covering up the facts with more false narratives?

I will never support crooks, corruption or liars. Tunku Yaacob promised us when he took over he would not Asset Strip KNM. read the articles yourself. He is a liar. That is exactly what he proposes to do and will never get approval to do so.

To those buyers of the "pre-ipo" shares of Borsig that will never be listed in Singapore, you better find collateral from Tunku Yaacob, because that money will be eaten like flies on shit the moment the Yes men get in control of it. When the company defaults on its promises to bring the company public, you will be so far down in line to get your money back, that they will charge you for postage to just tell you there is not enough money to pay you back.

I support whoever can bring fresh money to the company and invest in its ideal assets to get them performing. this creates jobs, tax revenues and return on investment for us Shareholders. it also pays back the Debts owed to the Creditors.

Tunku Yaacob and his companies do not have money to do anything. This has been proven by the financial statements and lack of performance. He is so over-leveraged with KNM that he will do anything to stay in control so we won't see what he is really up to. The Explanatory Statement is a legal document explaining his plan. that plan screws everyone over and was thrown out as worse than a Liquidation. This is said by a Judge and experts. it is why KNM could not get an advisor to endorse it. These are the facts and why I am angry. To see you trolls continue to spread false information different than the facts in writing to justify Tunku Yaacob and his obvious incompetence as a Businessman also makes me angry.

What makes me happy is KNM and its success.

No more fake stories Trolls......

OtisKL, you are full of hot air, it is better to listen to the judge and not the false narrative you pump:

YA Puan Liza Chan Sow Keng, presiding, noted the petitioners' failure to lodge a statement of particulars within the stipulated period. Furthermore, the appointment of director Ho Soo Woon was challenged due to concerns over independence and the omission of certain debts in the voting procedure.

The court also ascertained that the proposed arrangement scheme was "doomed to fail" as it lacked the requisite 75% creditor approval, with substantial resistance from principal creditors such as IPL (R3), Ann Joo Metal Sdn Bhd (R1), and Ann Joo Metal (Singapore) Pte Ltd (R2).

Reflecting on a precedent-setting judgment by the Federal Court, it was established that affiliated parties should not be amalgamated into the same creditor class as independent third-party creditors due to potential interest conflicts. This principle was enforced in the present case, where the majority of debts in Class B2 were attributed to entities closely linked to the petitioners, potentially skewing the scheme's voting process.

https://focusmalaysia.my/impatient-shareholders-take-knm-head-honcho-to-task-after-kl-high-court-rejects-restraining-order-extension/

For context, the KL High Court had on Thursday (Nov 2) shot down an application for the prolongation of the RO on grounds that the petitioners, KNM Process Systems Sdn Bhd and its associated bodies did not fulfill the stipulations delineated in Section 368 of the Companies Act 2016 which includes the obligation to submit timely statements of affairs and the impartial nomination of directors.

Apart from failure to lodge a statement of particulars within the stipulated period, the re-appointment of director Steve Ho Soo Woon effective yesterday (Nov 3) – just barely a fortnight after he was ousted on Oct 16 – was challenged due to concerns over independence and the omission of certain debts in the voting procedure.

The court also ascertained that the proposed arrangement scheme was “doomed to fail” as it lacked the requisite 75% creditor approval, with substantial resistance from principal creditors such as Ann Joo Metal Sdn Bhd and Ann Joo Metal (Singapore) Pte Ltd.

The court further underscored the scheme’s lack of transparency and inadequate financial disclosure concerning the proposed asset liquidation intended for debt settlement.

This is when the presiding judge Liza Chan Sow Keng stressed that the proposed disposals of assets including Borsig GmbH, FBM Group, Thai Assets and UK Assets were projected to fall short in generating sufficient funds to satisfy the scheme’s debts, thereby rendering the scheme unfeasible.

Above all else, the court criticised the scheme for not offering a more favourable outcome than liquidation for the creditors and for its lack of contingency on shareholder consent which is of heightened importance given the current shareholder disputes within the company.

Nevertheless, the oil & gas (O&G) engineering outfit said it will appeal the KL High Court decision in the Court of Appeal. “In the meantime, an ad interim RO (Erinford Injunction) was granted. The next case management was fixed on Nov 14,” noted KNM in a Bursa Malaysia filing.

In all fairness to its shareholders, things have not really been looking up for KNM shareholders since its Oct 16 EGM. Its share price, for one, is still languishing even as the counter ended 0.5 sen or 5.26% higher at 10 sen at the close of yesterday’s (Nov 3) trading which valued the company at RM405 mil.

it is always an interest to see how Tunku Yaacob, Ravi, and the respective Trolls try to twist my words to fit some false narrative they create. Kindly ignore whatever these trolls have to say. these accounts were set the moment that the EGM to try to kick out Tunku Yaacob and his yes-men was noticed:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

Tunku Yaacob won the EGM by just 2% of the vote. Many people do not accept the results including the Royal family in Johor. Not sure how that will work out, but the vote clearly shows Tunku Yaacob does not have any support other than himself, Micheal Tang, and Taib Mahmud's son Abu Bekir who showed up and the last minute just in time to loose 40% of his investment.

That means he will not receive the support of shareholders in the bogus IPO in Singapore. The court, not the trolls, made clear statements that the Explanatory Statement to us Creditors was not going to work and not even worthy of the Creditor Vote that Tunku Yaacob called. The majority of the Class B Creditors (less the intercompany creditors who did not belong) filed the complaint to remove Stev Ho and the ES from he playing field leaving KNM with nothing but a waste of almost 2 years. I wonder how much money Tunku has paid his consultants and Yes men to drum up the bogus transactions in that the Judge threw out.

Even the FBM transaction is bogus, it does not even have a Golden Power application required by law prior to selling technology used in the Nuclear Power Industry. They did not apply because the buyer won't qualify. Who are they trying to fool? Ravi is the Director of this mess in Italy and will be subject to a fine of up to 200% of the transaction and Jail time. I think we all look forward to that happening.

As far as who I support to control KNM, I would like to see new blood with new money step in. I don't care if it is German, Malaysian, Chinese or what. We all know that MAA, and all of Tunku Yaacob Companies are out of cash and not making money. He only can manipulate people as he normally does. He had a long opportunity to show us what he can do. that resulted in losing the Restraining Order, and having his bogus plan thrown out. Even the Judge made it clear that his plan was not feasible in writing.

Trolls, get lost. You shame the Shareholders and Stakeholders. The facts speak for themselves.

I speak for myself, nobody who says anything else can change that as they keep trying. The corruption in this country is so bad, that it is accepted as normal business. this needs to stop. Cheating, manipulating, and misrepresenting facts need to be stopped.

In Kuala Lumpur, the Malaysian High Court has decisively turned down an application (Enc 125) seeking the prolongation of a Restraining Order (RO) in connection with a corporate restructuring scheme, produced by KNM Chairman Tunku Yaacob Khyra, pinpointing numerous legal infractions and questioning the likelihood of the scheme's success.
The adjudication drew upon the Federal Court's articulations in the Mansion Properties case, underscoring the necessity of protective measures for minority creditors within arrangements of schemes. The court adjudged that the petitioners, KNM Process Systems (KNMPS) and its associated bodies, did not fulfill the stipulations delineated in Section 368 of the Companies Act 2016, which includes the obligation to submit timely statements of affairs and the impartial nomination of directors.
YA Puan Liza Chan Sow Keng, presiding, noted the petitioners' failure to lodge a statement of particulars within the stipulated period. Furthermore, the appointment of director Ho Soo Woon was challenged due to concerns over independence and the omission of certain debts in the voting procedure.
The court also ascertained that the proposed arrangement scheme was "doomed to fail" as it lacked the requisite 75% creditor approval, with substantial resistance from principal creditors such as IPL (R3), Ann Joo Metal Sdn Bhd (R1), and Ann Joo Metal (Singapore) Pte Ltd (R2).
Reflecting on a precedent-setting judgment by the Federal Court, it was established that affiliated parties should not be amalgamated into the same creditor class as independent third-party creditors due to potential interest conflicts. This principle was enforced in the present case, where the majority of debts in Class B2 were attributed to entities closely linked to the petitioners, potentially skewing the scheme's voting process.
The court further underscored the scheme's lack of transparency and inadequate financial disclosure concerning the proposed asset liquidation intended for debt settlement. The Honourable Judge emphasized that the proposed disposals of assets, including Borsig, FBM Group, Thai Assets, and UK Assets, were projected to fall short in generating sufficient funds to satisfy the scheme's debts, thereby rendering the scheme unfeasible.
Moreover, the court criticized the scheme for not offering a more favourable outcome than liquidation for the creditors and for its lack of contingency on shareholder consent, which is of heightened importance given the current shareholder disputes within the company.
Consequently, the application for the second extension of the RO was dismissed, with costs awarded to the respondents. In tandem, related applications (Enc 56 and 64) were sanctioned, and another (Enc 114) was declared academic, with costs apportioned accordingly. The court also sanctioned an ad interim Erinford injunction pending appeal until the Case Management hearing set for November 14, 2023.
This judgment serves as a testament to the rigorous standards for corporate restructuring in Malaysia and the judiciary's commitment to safeguarding the interests of minority creditors while ensuring the feasibility and transparency of restructuring endeavours.

wow, now Rapid Synergy has also issued a Qualified Financial statement. Both of the companies controlled by the Yu Brothers are toast. If the auditors cant figure out these Joint Venture companies in both companies after 18 months of trying, then it is not likely that will change by hiring other independent parties to challenge the Auditors.

The stories previously subject to police reports by YNH as fake news foretelling this exact situation seem to be more and more credible as time passes.

https://prioritysuntimes.site/massive-financial-fraud-unearthed-involving-ynh-property-bhd-rapid-synergy-bhd-and-triple-h-autoparts-sdn-bhd/

https://freesuntimes.site/alleged-financial-misconduct-at-ynh-property-bhd-a-call-for-transparency-and-regulatory-action-shareholders-demand-answers/

https://prioritysuntimes.site/explosive-lawsuit-targets-ynh-property-directors-for-rm-1-billion-embezzlement-scandal/

These are just a few of the stories talking about this as far back as a year ago. It is a shame that our own local media is too scared to stand up and speak the truth and investigate. the above stories all show the source of the data, the same documents are available to verify by anyone. To this day, YNH only says it is Fake news. Are the Auditors of YNH and Rapid Synergy Fake News too? Shareholders should know what is really going on with full transparency. How can you say that the Qualified Audit has no effect on the company? it means that the accounts represented by the Directors of this company can not be verified. that means they do not represent the truth. The Authorities need to learn to step into companies where the numbers do not add up.

Ho was appointed illegally by the Class B creditors which is 90% Intercompany debts owed by KNM to itself. The court clearly determined last week that KNM has classified this intercompany Debt wrongly. Intercompany obligation (itself) can not qualify to select who is chairman. that is like putting Israel in charge of protecting Palestine.

Don't listen to the noise coming from the paid Tunku Yaacob Trolls who only spread lies and unfounded stories. Notice what day these accounts were created and look at what they post vs what is in the real news:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

Wow, what a brazen lack of respect to the shareholders and creditors. Just 2 weeks ago Steven Ho was voted out of office. Now Tunku Yaacob has the balls to just casually appoint him back.

Thos clearly shows a complete lack of respect towards all stake holders. The other guys need to come back and call a new EGM and clear out these crooks.

Yes, confirmed. Not only was the RO denied, but also the Explanotory Statement was thrown out as nonsense. The court granted 2 weeks period to appeal, but once expired, the Creditors can begin foreclosure and collections actions to wind up the company.

Not only did YNH get a qualified audited report, but now also Rapid Synergy. Both companies can not get a valid audit for one reason or another. The YU brothers seem to have forgotten how to run public companies after all these years.

Seems those news reports above about them are proving to be true.

https://themalaysianreserve.com/2023/11/01/kpmg-issues-concerns-on-rapid-synergys-financial-statements/

you can not strengthen a balance sheet that after 18 months can only obtain a qualified audit. RM 1.1 billion on the Asset side of this balance sheet is not verifiable or does not actually exist. Stick to the facts as stated by the Auditors, not the false propaganda being pumped by others. A qualified Audited report means that the Islamic bond covenants have been breached. likely most of the debt facilities are in breach as well. unless the YU brothers come up with RM1.1 Billion++ to pay back from the JV deals over the past years, there is no more YNH.

I hear from a somewhat reliable source that the RO is not going to be granted or extended. Can anyone confirm?

I suspect that the Explanitory Statement will be thrown out. The RO is doubtful given they had 2 years and produced nothing. Why give them a second chance. They applied to bursa for another year, they will probably get it because the former MAA CEO is the Bursa Ceo now. Let's wait to see.

The comments from Steve Ho and Ravi, hiding behind troll accounts, are pure, self-serving fiction. In the manipulated EGM, Tunku Yaccob played his hand, using his votes against Tan Sri Z and his ally, Steve Ho. The other tales spun around this are sheer nonsense. He conveniently placed the blame on the Michael Tang block, which, by the way, he dominates. Just look at the vote count for proof.

Today is the day the judge hands down a decision about the RO and the poorly crafted Explanatory Statement. No shock that this management needs a whole year to come up with a revised one.

KNM is sadly spearheaded by self-serving incompetents, all puppeteered by a master manipulator who apparently likes surrounding himself with dim-wits just to feel intelligent. It's high time for a major change.

To my fellow Shareholders of KNM, we know the long history. We know the value KNM is to Malaysia and what to do to get rid of Tunku Yaccob and his incompetent self serving opportunists. We did it before, and we will do it again.

Don't listen to the noise coming from the paid Tunku Yaacob Trolls who only spreads lies and unfounded stories. Notice what day these accounts were created and look at what they post vs what is in the real news:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

Now Tunku Yaacob and self serving opportunists need a whole year more to make a replacement plan. After 2 years they can't make a plan, how does 1 more year help. These people are not capable or experienced to handle anything more than asset stripping as it clearly shows in the now defunct Explanitory Statement and track record.

https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-10-31-story-h-216099573-KNM_Seeking_One_year_Extension_to_Submit_Regularisation_Plan

The companies disclosure of MYR 1.1 billion in assets tjat can not be legally accounted for and undeclared related party transactions, coupled with potential fraudulent activities, could indeed trigger a PN17 status, indicating financial distress. The PN17 status would reflects the company's financial condition and acts as a warning to investors about the company's financial health.

Subtract RM 1.1 Billion from the asset side of the balance sheet and what do you have left?

YNH just filed an Qualified opinion. This means that the Auditors can not issue an opinion that the financials are truthful. It talks about the assets in the form of Joint Ventures under investigation. The stories going around the market about the hanky panky by the YU brothers is apparently true. 😂

To my fellow Shareholders of KNM, we know the long history. We know the value KNM is to Malaysia and what to do to get rid of Tunku Yaccob and his incompetent cronies. We did it before, and we will do it again.

Don't listen to the noise coming from the paid Tunku Yaacob Trolls who only spreads lies and unfounded stories of the fake mafia listed below. Notice what day these accounts were created and look at what they post vs what is in the real news:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

We have all read the KNM Explanatory Statement. It is a KNM self liquidation. Why do we need to let people like Tunku Yaacob Liquidate our assets unregulated and checked even we could simply appoint a real Liquidator to do the exercise and get his greedy hands out of the pie. He and his liquidation plan need to go away and let professional people take over.

@OtisKL, bro, please take your anger and inventive comments and speak with Allah. Let him bring you peace.

Frankly, we have all read the KNM Explanatory Statement. It is a KNM self liquidation. Why do we need to let people like Tunku Yaacob Liquidate our assets unregulated and checked even we could simply appoint a real Liquidator to do the exercise and get his greedy hands out of the pie. He and his liquidation plan need to go away and let professional people take over.

To my fellow Shareholders of KNM, we know the long history. We know the value KNM is to Malaysia and what to do to get rid of TY and his cronies. Vote for change. We did it before, and we will do it again.

Don't listen to the noise coming from the paid Tunku Yaacob Trolls who only spreads lies and unfounded stories of the fake mafia listed below. Notice what day these accounts were created and look at what they post vs what is in the real news:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

I see there is no end to the Tunku Propaganda machine in here. Too bad there is no way to block all these accounts that pump the bullcrap endlessly so actual stakeholder can exchange ideas and obverservation. Any shareholder can see that Tunku Yaacob is not a businessman. Just a bunch of thugs that uses intimidation and threats to pretend they are capable of something more. Every example you can find where Tunku Yaacob is involved, the shareholders lose, the company stops its business and wealth and value disappears. That is the facts that you trolls can not cover up.

Take your wild predictions of a grand ending under Tunku Yaacob and compare it to his past. He turns gold into shit, why would that change now?

Bottom line is clear. Creditors filed a complaint against knm and stopped the creditors meeting. They claimed that the ES was flawed and had many misrepresentations. The Judge agreed and postponed the meeting. The list of creditors on the filing was deep and represented those needed to approve the document. No way it would ever pass. The lies by Ravi that he somehow has creditors on his side is as much bullsh!t as tunku yaacobs fake news about the German guy. The Judge noticed that no advisor would dare put a name on the ES (explanotory statement) that was to be voted upon and forced KNM to hire an independant liquidator to make an opinion. We have too many crooks in Malaysia and having one who claims to be an important royal family member that is actually just a low level relative makes it sting even more. It is high time that people like tunku yaacob and his group of yes men and crooks pay the toll. Let's see how things develop next.

Still no action on that whistleblower report. Must be that bursa ceo that quashed it for TY. Previous the bursa ceo was the ceo of MAA. I hear there are also neighbors. I hope jail time is in the future