MAA and buddies took over all the PPM. They are worried that they will loose power. This recent volume is likely them selling off shares to get money to buy the shares in the PPM so nobody else can buy. The PPM is completely subscribed at 0.054 so they make 30+ %. It is the only way TY knows how to make money. The existing management team is not qualified to run a petrol station let alone an engineering company. It is time to throw TY, and MAA out and get new people who know how to do enginerring business and access capital. They have brought shame on knm and shame on malaysia.

A simple review of the facts show that BORSIG does not qualify to list in Singapore or another markets except maybe Germany. This story to extend the RO protection from creditors is just that. Pay people money to write letters and endorsement of plans is not worth the paperweight they are written on. This company needs to be purged of the existing unqualified management. Please go back to MAA and see if you can find a way to sell insurance again. Enough is enough. Time is up for MAA

We need to replace the current management with competent people. Insurance sales people are clueless about how to run this business or manage the assets. Tunku Y track record is clear and full of failures and inaction. How can you sell FBM for only 12M euros? All because you can't pay a 2 Million Euro debt. This shows how unqualified and incompetent this team is now. Shareholders need to unite and throw these usless people out as soon as possible.

@i3lurker - you don't tell people what they can say or not. who are you? I don't trust this counter at all now. there is an entire website with reports about the Directors and controlling shareholders. See for yourself:

https://ynh-exposed.com

P/E 562, 562 is not possible for a normal company. and it only makes 0.18% (not 18), less than 1% per year. Something wrong here with this company.

Apparently a lot of undeclared related parties to the YU bosses.

https://myfrontpage.info/rapid-synergy-bhd-snubs-malaysia-security-commission-in-a-cover-up/

What happens now?

Another article about the 2 malls being sold shows evidence of hanky panky. Is it really so hard to do business in Malaysia that they need to cheat?

https://myfrontpage.info/ynh-propertys-latest-rm-500-million-asset-sale-exposed-as-fraud/

@snowball2000, the story explains where the RM 800M came from and where it went. you should read the story. I sold off my shares of this counter. too much wrong with the numbers here. P/E 272 ? How is that possible? now more news that the Main assets of the company are being sold off for a note and in a related party transaction. that I believe is illegal.

I saw the news report about YNH at the priority sun times about fake trading. I did not know members of the management have been busted by Bursa. Is there any truth to this story? I have a small stake here and think maybe I should get out while it is so high. What do you long time followers think?

https://www.thestar.com.my/business/business-news/2022/05/28/borsig-sale-to-provide-lifeline-for-knm

Don't you think it strange that KNM now appoints 12 Directors to its board? Not a single one of them can step up to help the company solve its financial problems? The company has many assets and still, nothing happens to solve a simple bond refinancing. Maybe the Banks know more than the financial statement shows? How much are these "Directors" collecting from KNM? I am dying to see how much ESOS and director fees they are getting for doing absolutely nothing.

linxpeedy, I don't see how it is you can glorify Tunku Yaacob. He has zero experience in being a CEO of an Oil N Gas company. He has not done anything he said he would or could do in his earlier interviews. He is nothing but hot air. Absolutely ZERO performance. The KNM board of directors chooses the path forward, Tunku is powerless to accomplish anything by himself. in fact, we shareholders thought he would step up to the table and help with access to capital when LSE was removed, Instead, he aligned himself with the past players and has only played power games and caused mayhem. He does not have enough shares to make an impact on the big picture unless he can unite the BOD. So let's stop with the fake news and misinformation.

MAA has aligned itself with LSE. they can not be trusted to protect all shareholders. The shareholders all need to be involved in the management of the company, not just 1 guy who is aligned with what was removed in the past.

We have a lot of opinions and ideas here as usual. Truth is that time is needed here. There are plenty of assets and revenue in KNM to sort things out. This is a cash flow matter, not the end of the company or PN17 lah. It would harm all parties including the bond holders and cgif if they were to call a default and not allow the company to settle this in good time. This is cleanup time. We all need patience.

MAA made a mistake to align with LSE. They quickly found themselves alone with out support of cash to buy enough power to take any control. They will find a new target they can afford. It was a good try!

@nedgeon, who are you to tell people what to say or don't say? this is a free forum to speak your mind and share information and ideas. Its rules are designed and determined by the owner of the website. so how about you find other things to do than tell people what to do and stop spreading false propaganda.

@godofgambler, I agree with you about that. We both express our opinions and vision of the future. Time will tell if we are right or wrong. What we have in common is a desire for a good ROI and future for KNM.

@Godofgambler, your name calling is dumb dumb... maybe your English need some brushing up. LSE is on trial for insider trading of KNM shares last I heard. That is likely damaging to the KNM shareholders. Anyone who continues to work with him or his crew is no better than him. What part is it you don't understand? KNM needs to be run as a public company, not a tool for specific shareholders who demand bod seats. If they can get 51% ownership then I won't care and bail. But I don't think MAA/LSE can do that. So for now we need to beware and resist granting Control to any major shareholders. We have seen what team LSE has done for shareholders the past 20 plus years. Enough is enough.

Godofgambler Macdee you can read or understand English not?
They didn't say MAA is front man what stand for LSE.!!!
MAA just being respect polite saying good thing about LSE cos he is founder of KNM after all. It doesn't mean LSE is behind MAA!!!
Real dum dum

The Edge says to me that MAA is just the front for the LSE family. We kicked LSE and related parties out before. Let's not let them back in. MAA has its own legal problems under investigation according to reports. We need to keep LSE out, which means MAA can not take power or be on the BOD. Thank you Edge for exposing the truth about MAA and LSE.

KNM is a good buy in my view. As long as there is no "controlling" shareholders to manipulate the company with self interest. Clearly MAA and LSE are working together. This is not a good sign.

@godofgambler you can interpret the article how ever you like. From my perspective the message it is clear.

Page 16 of the edge 13 September issue.

@RedEmperor Macdee34 The Edge shows MAA is just the front man for the LSE family

Proof is in the Edge 13 september article. It is a very clear message to the shareholders. You don't think the Edge wrote this do you? It is paid propaganda. Pledging votes, private side deal for shares from LSE to MAA, overwhelming inside information about the company thrown in the public eyes to undermine company activities. MAA/LSE not control anything unless we let them. They don't have enough without another side deal fund raising event like the last one we stopped before they diluted us by 30%. The article is very clear, message received and understood. But, we shareholders have been fooled before. Not any more.

I think it will be hard for any one group to have control. It will take a collective of shareholders with a common idea to make a difference from a shareholder level. Key here is cash flow. Knm cash reserve is very low. Debts high. Time to liquidate some assets and turn the tables.

OMG - KNM is not dead. I agree with Sardin81. KNM has nowhere to go but up. It is clear that the Company has purged its waste and questionable management and now can be what it should have always been. They have assets that are performing. They have assets in development. It is just a matter of time for the changes to take place to allow these assets to perform. When team LSE left, we increased our position 10 fold. I can't wait to see how the new BOD develops.

We are moving up! new players moving in to support the company. good news on the horizon I hope!

we have 2 new directors added today. Does anyone know of these people?

Sardin81, once this company is cleaned up and the assets can both perform and be properly valued, the sky is the limit. But there is a lot of work ahead.

actually, up until yesterday, gan siew liat and lee swee eng was running the company. today Terrence and flavio took over. the lee supporters all purged. it is clear the financial community supports these changes. let's see what Terrence can accomplish for a while. and let's see who joins the board in the next weeks. I think things are going to get very interesting.

the qty of votes seems low. big players did not vote

we have won only in part. we need to vote the other agm provisions out. but not the egm. this we still need to stop.

risk8888, the resolutions of the agm has been changed. no more reelection. these are all canceled. they are 100% out. we need to vote to keep in Mr. flavio. he is the new director and heads up the legal arm of knm.

they have withdrawn from the agm reelection as well. we still need to show our vote. but basically we already won. house seems to be cleaned up. they ran away instead of loosing.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3170568

okay, so looks like the knm board of directors has all resigned except for Terrence Tan. the lee family is out.

Comodo1, contact Maybank broker and set things right. every single vote matters!

every vote counts! agm and egm. vote no to everything on both. no more controlling shareholders. no more dilution.

Rahmat88, Cypark WTE plant was canceled due to knm defaults. failure to perform. the subcontractor failed to do the work even though paid in full in advance. guess who the subcontractor was? IM Bina Sdn Bhd, 99.6% owned by Inter Merger Sdn Bhd a substainial shareholder of KNM. this is owned by the lee family.

BORSIG and FBM are good because the LEE family is barred from interferring or they will loose the bank financing of these companies. Company affairs in Germany and Italy are transparent unlike Malaysia. So they run will and perform. No room for play with money one.

Sardin81, According to the reports, the feedstock market price is too high due to Chinese buying. They own and control Empress farming where they farm cassava and the source. so this makes no sense. The other issue is that Phase 2 should be up and running as well. but it is empty land as well. the IEL plant has been running a minimum most of this year and last. Truth be told, they put in charge of this group a little girl who just graduated from school. The daughter of Gan Siew Liat. What do you expect would happen? she does not even speak Thai or live in Thailand. Like all projects under the Lee family, a big failure.

RISK8888, if you are out, then you are out. but if you are in, register and vote help us clean up the mess. let a new management team come in and independently take over and expose what needs to be exposed and run the company with transparency.

Sardin81. It is true that Empress Ethanol (IEl) is a disaster. read the Annual report. in the middle of the robust Thailand ethanol industry, IEL alone fails. Peterborough project was canceled in 2019 and has to this day remained empty land. Please read the annual reports and facts. FBM and BORSIG are the only assets of KNM. the rest are liabilities used by the Lee family to play around.

sardin81, knm has access to other sources of borrowing and capital. it is just not as easy as taking from shareholders. the banks hate lse and always have. get them out and see what the banks do. this PP they propose is just the way lse has been paying bills all along. makes up for all the loss making activities knm has suffered under his and his hr manager wife who is driving now. unite and take back control of this company for the good of msia.

Flyhigh369, it is not just us small fry that has understood what the gsl/lse family has done to the trusting shareholders. big players is now see the truth and wants to join us. they buy up the supply to vote against the family and be a part. they have lost more than us. I feel good to see the truth is being exposed and the the shareholders unite for the common good of msia.

we small fry must gather our strength and take control of our company from the lee family. investigate the crimes and take actions to recover our losses. it is time we take a stand and units. only then will sardin81's dreams come true for us all. purge these people. stop the takeover private placement. vote at both the egm and the agm. register now and make an appointment in your calendar to vote.

11395861, I am told that there are huge margin calls at .12 that belong to insiders. so I think they won't let it drop below .15. let's see how volume is today with the egm announced.

ganapathy18, if you review pages 93 - 94 of the annual report, you will learn that the Ethanol Thailand group has lost RM20 million. It is at a standstill and nearly idle while the rest of Thailand's ethanol industry is thriving. This is the unit operated by the daughter of GAN SIEW LIAT named SARA LEE MEI CHING. Sara is not qualified to run a chemical plant. She is a recent graduate who studied hospitality management. So maybe she can run a small Airbnb. but apparently, MOM, KNM's HR manager and the Executive Director of KNM Group, gave her daughter 25 million KNM ESOS shares in return for losing 22 million for KNM shareholders! What a deal! I understand BORSIG and FBM group leadership received no ESOS shares for the contribution to KNM's profits. Lesson learned the person who loses the most money gets the most ESOS shares.

https://freesuntimes.com/knm-executive-director-diverted-esos-employee-entitlement-to-family-members/

GET THEM OUT!

Sardin81, the ESOS issue is clear in the AR. between Gan Siew Liat and her indirect ownership of the ESOS per page 45 where the directors declare ESOS holdings. 40 Million for her and another 75 million for her family. Many are not even employees or who have been convicted of wrongdoing. See this story below:

https://freesuntimes.com/knm-group-director-and-ceo-lee-swee-eng-found-guilty-of-violating-bankruptcy-law-in-an-attempt-to-harm-creditors/

Between this and earlier ESOS stories published and the AR page 45, it is all very clear.

I don't think there is any more question about Gan Siew Liat and her and her family's ethics. They should not be trusted with public money in any way.

Someone asked me for the link to the Lee Swee Eng statement of claims for the insider trading charges. I found it again. It is below:

https://www52.zippyshare.com/v/vm2gW2RM/file.html

I think you can download it as well.

looks like the esos story that came out a few weeks ago was correct. the ESOS shares mostly go to Gan and her indirect interest. see page 45 directors interest (esos). shows 40 million for her and 75 million for her indirect interest. why does a glorified HR manager get all these esos shares and allowed to run a oil n gas company? she is not qualified to read a map let alone a drawing. the more I read, the more I see we have been played the fool.