so if I get this right, Gan wants to dilute our shareholder value by 30% to pay back loans the company can't pay back itself from operations. then further somehow by November somehow they refinance the THB2.7 BILLION (not million) bond. or maybe they will pay that off with shares as well? where does all this money go? 2.7B ??? no phase 2 at the ethanol plant it was to be used to build. ethanol is not profitable to make according to the AR? where is the 2.7B???

i mentioned that the AR page shown as 160 is the auditor's report. the bottom half of this and the following page is very concerning. talks about inherently "uncertain" in reference to going concern and the bond maturing in November. we all need to look closely at this information.

did anyone notice that sometimes a post you write here disappears after a few minutes?

I think all shareholders have some work to do. we need to clean up this company. I will seek legal advice on how we can proceed

it is not just you. it is all of us. we need to team up. we need some organized systems to support us.

kabukiman, I represent various shareholdings near 3%. if we find a way to group together all our assets we can call for an egm to have directors removed. we don't need an agm. but we need a method to collectively work together to take actions. my people would be interested in funding such an action.

good morning sardin81! yes, it is time the lee group is out and we can let this lazy investment reach the targets you have are. it is more than possible.

I can tell you the empress ethanol project is a bomb failure and will never make money as long as it is run by Lee swee engs daughter. time for change! I am happy to see we finally see knm the same way!

yes, do have a copy. let me find a way to put it online. the article gives the case number. you can download it from that. Sardin81, I want the price to go up, I want those people who abused the right to hold my capital to get out. they are too greedy and keep everything at the expense of us shareholders. you have always been right sardin81 about the value and possibilities. but it won't happen until us the shareholders put honest people on the board of directors. we only argue with you that general lee is something more that an insider trader. the history of failure after failure is clear under the lee family. look at all the law suits that comes from so many job.

Sardin81, we won't see an RM3 price with these people remaining in charge. they just use the capital from our investments to enrich themselves. not only once but on a regular basis. That proof is in the track record. how many times can they keep diluting the shares, paying banks they borrowed money from that served no purpose by leaking away on failed projects that the directors are subcontractors for. Yes, we all want RM3 brother. it won't happen with Lee Swee Eng and his cronies. that is clear. BTW - a few days ago, I obtained a copy of the court filings on Lee, it is real and he is toast waiting to happen. You should follow us and support a new transparent management team. Audits of the activities of the outgoing directors to recover what is possible.

More people need to know what is going at KNM. I am with you makemoney1

I understand number 2 is permission from shareholders to allow jobs from knm to be diverted to inter-merger without any disclosures. This a company owned by the Lee family. Maybe an expert can give us a better understanding? it should be detailed in the circular once it arrives.

agm next month. not this month.

There are several issues with KNM that shareholders need to clean up. In addition to removing Director Gan who is Lee's wife, we need to stop non-disclosure of the related party transactions between KNM Group and Inter-merger, a company owned by Lee and Gan that often is awarded the high-profit projects KNM subcontracts out. This has been going on for years with little to no independent review. We need an audit of these works and costs.

https://www.knm-group.com/bursaannouncement/2021/300421-General%20Announcement.pdf

This announcement to shareholders is about waiving this related party reporting requirement for these companies. This gives Lee and Gan the right to grant themselves subcontracts with no oversight or competitive bidding. This is just wrong. Projects awarded to Inter-merger should go through the same oversight as other subcontractors. The pricing should be fair and have independent oversight. We need to disapprove of this item and ask the Minority shareholder watchdog to do an independent forensic audit of the past years.

the agm can not decide the pp. so they called another egm the same day after the agm to vote for the pp. we can vote no for gan siew liat as director in the agm, then vote no in the egm after for the pp

this one I saw this morning. same as the last story I think.

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

knm should comment on this matter. I hear knm employees are upset.

I keep seeing articles about the Employee Stock Option Scheme being taken by the Gan Siew Liat, Lee's wife who gave most of it to her family instead of to Employees. Has anyone else seen any credibility behind this?

AGM is the 29th, the EGM follows just after lunch on the 29th as well. end of the week. I still have no notice of the EGM.

I also don't see how they are going to pay for the thb 2.7billion bond that is coming due. the ethanol business makes no money. the phase 2 that the bond was to pay for does not exist. how will knm, who guarantees the bond pay that? another dilution? that is around rm 360 million. high time knm has fresh blood running it that is not involved or related to insider trading charges. no is the only way out.

this pp is nuts. let them buy the shares from the market and raise the share price due to demand. fu dilution of our shares by 30% because of poor management and insider trading by the ceo is just too much. the buyer is the ceo wife gan siew liat and probably a proxy for the ex- ceo and husband Lee swee eng. again a play for more stock games. the egm is just after the agm on the 29th. the street is saying she is off the board at the agm. a lot of negative feelings about gan siew liat and her husband. it is time for new blood in knm to take us to profits. I am voting no to both her directorship renewal and the bogus PP. we all need to stand up and vote no.

this company needs new management and clear transparency. time for the Lee Swee Eng group to exit.

30%. OMG. 17 will go to 12 just to stay even. this must be rejected by the shareholders. this is why this stock never goes up. diluted every chance they get.

Sardin81, I don't delete any post like you have. I don't tarnish anything. I discuss the facts as they appear. We are all here to make money, compare notes and guess the future. you on the other hand just promote and copy-paste the same crap every day ignoring the facts. if one-day KNM should get to RM3, it won't be because of you, it will be because it deserves it. Performance, fundamentals, profits, and above all transparent leadership. The one thing KNM has never had is leadership.

sardin81 plans have backfired. he evacuate here and deletes his comments after talking about legal problems. ask yourself why?

Sardin81, I like borsig like you do. how about we start up a company and buy it from them? they are about out of money anyway!

I don't see any short significant selling at the moment. What are you talking about Sardin81? At least one of these stories is absolutely true. Given the facts, I suspect they are all true. The normal media does not pick up stuff like this until after arrests are made. I also don't see that the latest news will harm the stock or KNM. It to me is good as they flush out the rats and let the stock grow as it should be.

Sardin81, the story about insider trading is spot on. I looked it up to check. Why do you think it is fake? I think it is common knowledge.

Back to work! ughhh. well 2 of the stories come from the same reporter. you would think the star, NST or other local papers would publish stories like this. Maybe the holiday week has delayed the news? let's see what happens this week. I am holding with a tail!

sardin81 MacDee34 Here is another article from last week. how come people can do this in a public company and stay in business?

https://businesssuntimes.com/knm-ceo-lee-swee-eng-insider-trading-charges-tied-to-prior-reprimands-and-fines-to-8-of-the-knm-board-of-directors/

Just look at the title,

it says "Financial Crimes that rock Southeast Asian economy" ... go and read the judgement details... it was just an announcement not made on time.

Bro, it seems clear this "forgot to make an announcement on time" as you say is directly tied to 31 million shares sold by Lee Swee Eng as an Insider at inflated prices. the document number in the courthouse confirms this story as truthful from what I can see.

Time for you to come clean.. Are you really general lee?

Sardin81 even with our differences of opinion, I think we can both agree that something is brewing here.

https://businesssuntimes.com/knm-ceo-lee-swee-eng-insider-trading-charges-tied-to-prior-reprimands-and-fines-to-8-of-the-knm-board-of-directors/

You can see the market data the same as the rest of us. there is a ton of programmed sells for Monday onwards. news is rapid with substantial details coming out of the market of serious accusations of wrongdoing. Your General Lee and his group must stand down until this all blows over and then do the right thing. otherwise, I am worried this is heading into a PN17. This article that came out yesterday about insider trading and the Empress Ethanol fiasco indicated the company has no ability to pay back THB2.8 billion in just a few months. how can we disagree that there is a problem here?

Here is another article from last week. how come people can do this in a public company and stay in business?

https://prioritysuntimes.com/financial-crime-that-rock-southeast-asia-economy/

wingman9898 Wow, I was not expecting that! Unbelievable. can they do that?

sardine81, just cause he is a new guy does not make the story any different. that has been around a week or so. old news already! haha. I hear there is an audit problem with ESOS shares. there have been a lot of ESOS options exercised at .11, but I see the anouncements says shares were authorized at .165. where does the discounts come from? let's see if it comes out.

haha. Hydrogen has nothing to do with KNM or its little ethanol production in Thailand. you run away from facts because you know you have been less than truthful about IEL and KNM. you make claims and have nothing to back it up. Many people here watch you and this forum to understand how they were taken advantage of and see that someone pays the price. You and your little general lee will one day have to answer up to the shareholders. The Lee Swee Eng insider trading case will soon be over and the evidence will be out that will spread a light clearly on the subject. LSE and any other directors at that time will be held accountable to the stakeholders for damages and losses should the authorities prevail in the case.

What about this phase 2 problem? Assuming you are right (I have my doubts), why has KNM defaulted in the construction of Phase 2, and what is the outlook on catching up?

Borsig and FBM. I don't think Asia KNM and its subs have ever made a profit that was not derived from Europe.

I don't think so, there are no profits in the annual report. in fact, it looks like they loan more money each year to the Impress group than it produces in revenues. Did you look at the financials? can you show me where there is any positive audited financial reports supporting your position??

@sardin81 - you have been talking about his ethanol plant for some time. Do you believe it will ever become operational? it seems like they wasted a lot of money on this project and have nothing to show for it.

Sardin81 and his conspiracies! I always monitor the buy and sell orders and see someone is about to dump a load of shares downward. I assume that is always you and your buddies Sardin81. you are the only one pumping the stock when all the future small blocks show up pending for sale. You will play like it is going to RM3 as it collapses yet again. Maybe you knew about today's crime expose in advance?

SARDIN81 just can't stop pumping this stock even though it is likely to fail in the next few months. The company is rocked with insider trading charges and zero histories of making returns on investment to shareholders. this is a day trade stock only. if you don't really know how to play bursa stocks and see future trade orders, you should never touch this stock, because as soon as you turn your head the market makers play and you lose. I am sure we would all like to know who you really are Sardin81! maybe the defunct general himself? haha

https://www.sc.com.my/regulation/enforcement/actions/civil-actions-and-regulatory-settlements/civil-action-in-2020

the best thing to happen to KNM in a long time is get new professional management. I wonder how many lost money from the inside trading. has any shareholder started a lawsuit to recover the losses? We would probably all have claims.

Sardin again. haha. I guess KNM admin is back to work now. Quarantine is over. never ends with you. The market goes back up naturally, not because KNM managed to stay in business or is a wonderful company. The Fundamentals do not support this counter. only pump and dump games you play sardine.

hehe.. panic buying KNM like food. this tsunami has not hit us yet, the water just left the beach. Wait for after it hits us.

We can use some optimism! but reality will overpower the short-lived feeling of recovery when we see we are just starting to see the damages to come. Jobs - so many lost across all so many industries. those consumers won't be spending money or paying bills making it even worse. the models are off the charts.

风云 " Moscow can probably withstand a price war long enough to do some damage to US shale. Its international reserves of $570bn far exceed their level of $350bn when oil prices last plunged five years ago. Partly thanks to the Opec+ pact, Russia has been running budget surpluses and funnelling oil revenues above $42 a barrel into a rainy-day National Wealth Fund now worth $150bn. The finance ministry says that is enough to cover budget shortfalls with oil prices at $25-$30 a barrel for six to 10 years. "

so who will win at last? Trump or Putin?

Well, consider, the USA prints the money... Moscow has very little USD inventory. Easy answer.

investorbat US is a net exporter of oil and rank no 4 after saudi ,russia and iraq.Who said US is buying oil?

Donald Trump announced that the USA is filling up all reserves using overseas sources.

The US is buying up a lot of oil from the bottom up. It won't help the market to recover in my view. once they are done, I think there will be a second drop with no buyers or consumers using end products. Producers are significantly overproducing at this point. This is unprecedented in history, we can only guess what will happen. common sense says it will drop more but who knows. any other views out there?

freesuntimes article called "Increasing corporate misdeeds in Malaysia could be due to weak government policies, analysts say"

I was just sent an article about KNM from the freesuntimes.com related to the directors of KNM being found guilty of violating bankruptcy laws. is part of KNM in bankruptcy? Is it mentioned anywhere else? they just sold all the stock out, so maybe there is more to the story.

LSE - it is time for a massive sweeping restructuring. You need to step aside and stick to sales and PR and let a real experienced manager and new team take over. Your time has come and gone. The world has changed over the years and your old style process will no longer work. You know it and so does the rest of the team. Your leadership style is simply incompatible with modern times. Hard times ahead and there is nothing you are capable of doing to fix this but to step down and bring in new and modern talent to fix this mess you have. time is short.