Guys, McD's perception is that whoever thinks and comments opposite of his comments are called trolls. He is robot and we are AI... Hahaha. Go read his comments for years, the same old trending. But one thing, he had spoken some good points along the line, however, his investigative syndrome makes the company directors as villains plotting to swindle. Although some of those references made could be true but he generalised to everyone else. There are properly run calibre Malaysians that deserved credits lar sayang... everyone has their own opinions and differences, to that extent I do respect McD's comments, but please don't do character assassination, it's has grave consequences...

@i3lurker how come you didn't bank in the payment this month? You are paying me right?

For case study reference only - when a parent company in financial distress, a financially stable subsidiary could be floated in the market and subsequently issuing bonds to raise more capital for the group. Example, the Renong Group during 1997 - 2000 Asian financial crisis, " the Renong CDRC (corporate debt restructuring commitee) expressed confidence in extracting significant value from Renong's asset portfolio over the following years. The proposed scheme ultimately resolved Renong's debt through the issuance of RM8.4 billion bonds by PLUS in September 1999, receiving a favorable A3 rating from RAM Ratings. These factors, according to Tan Sri Halim Saad, indicate that PLUS was not in financial distress. The CDRC's approach demonstrated that with prudent management, even significant debt levels could be navigated successfully.

What lesson does it teach us? Can we apply similar strategies into KNM, like listing Borsig into SGX? One concern that needs to be addressed is McD's claim of Borsig having business in Iran, which may be a stumbling block.

McD, people like you only know how to grumble and whine, not helping to build the company. There are so many avenues to give constructive suggestions. You can write a memorandum to the board, highlighting the weaknesses and recommendations for improvements. For once, your comments above was making sense, and about to agree, BUT your nonsensical attitude 🙄 I am giving one final reminder, I am NO TROLL OF ANY OF YOUR FANCY LOVERS, so kindly stop linking me using your wild imagination. Thank you.

Appointment of Mr Steve Ho if challenged based on "concerns", these concerns probably derived from suspicious minded respondents. When the company firmly assured that full settlement will be made without a haircut, what's there to lose and be doubtful? Such risks should go away.

I wonder if the courts put a stop on court convened meeting with creditors to vote the SOA, and votes not counted officially, how will the courts was "convinced " the SOA is a failure? Didn't the petitioners' lawyers asked this question? The meeting isn't been held to discuss and subsequently taken votes, how would the courts come to a conclusion? What happened to the court instruction on appointed liquidators to evaluate the SOA results? Why not touched and explained on this results?

@MacDee34, I am NO troll or anyone paid me to comment. The posted comments derived from published articles. I reserve my rights to take legal recourse if you continue to post comments that I am a paid troll and spreading false information. Fundamentals of the company are published figures, not plucked from the sky.

@SelenaYeoh, you are absolutely 💯 correct and sharp, the the incumbents directors duly endorsed by the majority shareholders should work towards reviving the company. Yes, the Tunku Yaacob gang is doing everything in the best interests of the company hence safeguarding their investments in it. If McDee's point that Tunku been voted by his own investments means Tunku has more than 30% deemed shares in the company, who else can dictate his investments if not himself then?

@MacDee34, mister, look here, based on your narratives, you are full of vengeance, anger, biased and a "terminator". Based on your past history admission statements that you led the destruction Lee family and putting crooks in top positions, giving pro-bono legal services, masterminding to put the company into PN17 by defaulting loans in 2021 incidents till Nov 12, 2022 resignations of executive directors whom are charged in the courts, you are going to destroy the company with your continuous acts. Step aback, if you don't want to render help, but don't Bury the company with counter productive actions. Alot of people including me put in studies pocket monies to see it grows to pay for expenses including study fees.

Thousands will lose jobs and their families will suffer 😢 please, this isn't healthy. We are Malaysians, must stay united for our fellow Malaysians, unless you are outlawed citizen, give a breathing space so the company revived back on track. Once, the investors sell off their shares when it raises to 35sen and above, you can reap the profits too meanwhile, you can continue with your business.

The company fell into PN17 in end-October 2022 as its current liabilities exceed its current assets, after a deal fell through to dispose of its German machinery manufacturer Borsig Gmbh to pare its debt, some of which it missed payment as early as in November 2021.

At end-June, KNM had short- and long-term borrowings of RM1.08 billion and RM96 million respectively, against cash of RM235.56 million. Total equity stood at RM772.36 million including negative reserves of RM1.21 billion.

The group had net assets of RM772.36 million or 19 sen per share, based on its latest share base of 4.045 billion shares at June 7. This includes RM450.39 million of goodwill under its non-current assets.

Shares of the company closed half a sen or 5.26% higher at 10 sen, giving it a market capitalization of RM404.59 million.

BizEdge.com. Copyright © 1999-2023 The Edge Communications Sdn. Bhd. 199301012242 (266980-X). All rights reserved.

Well, now Steve Ho, the chairman of creditors group is back, hope things will smoothen and on track. The fallen Lucifers just put a booby trap when they proposed to remove the creditors chairman. The is a saying, "if we don't get it, nobody else should have it," is a clear greed and selfish action. The shareholders should have been notified by the company of Steve Ho's appointment early so the shareholders were not misled by the fallen Lucifers. Shameless bunch of greedy people. If the party feels like superheros, just buy up the company, it's cheap now anyway. But why should they when they can get it for a fraction of the price?

The High Court dismissed the company's RO petition, the laws is so clear, none of ROs has more than 12 months period. The company needs to take note of the courts remarks, and apply a second RO, while the COA appeal is on going. In Sapura Energy RO, that was just happened in March 2023. There are aplenty of public listed companies in PN17 due to post Covid19 pandemic, KNM is no exception to it. The company needs to focus on its existing business and boost its revenues and profits, back to basic. Meanwhile, the elimination of loss making subsidiaries need to be revamped or cut off completely. Stalled projects need to find new partners and take smaller shares in them as long they are within control. Issuance of new shares should be the last resort to this effect.

@MrMojo, you can't blame Focus Malaysia for the story as its a paid article, full of vengeance infused article from the former aspirants party. There is nothing else to do but instigating stakeholders to collapse the company. Absolutely nothing that these disgruntled cult want now but to sabotage whatever plans in place or taking place. What is wrong with the scheme when creditors are getting their monies in full?

Yes, corruption is still rampant in Malaysia, so do instigators sabotaging other people rice bowls. Thousands depending on the company sustainability and stability to ensure it as a robust going concern. As long as betrayers aka insiders remain in existence, the company will continue to struggle. Those fallen Lucifers just need learn its their rice bowls involved too. Even Jesus Christ, the Lord was identified to His enemies by His own insider guy. Let karma eat them up in due time.

A company's turnover strategy is not an easy task, it needs to go back to basics, look into the root cause of the issue and re-strategize and revamp to revive it. While some may "massage" the books to look good, that's not the real solution to it. Build back your revenue stream, cut your losses and unnecessary expenses (but don't prune until the tree dies off), find new markets, add value to your products, inject new revenue streams, and etc.

Yes, some will come forward and say, "easier said than done..." Well, if the challenge is taken up, then it's got to be done...if professional help is needed, there is plenty of experienced expertise in the market that can assist.

Hello everyone, hope all of you are in good health. Aiyaa, the above puzzle is simple. In accordance to CA2016 section 368(2), the court can extend another 9 months extension soon after the initial 3 months granted RO. So, whatever it is, the RO will expire by the end of 12th month. Now, the company has 2 choices, either going to COA, or applying a new Convening and Restraining Orders, with more structure, or perhaps set up a committee if not there, comprising all stakeholders, usually called the Corporate Debt Restructuring Committee, to go more in-depth of the SOA, either modify, etc, and be accepted by the court.

Meanwhile, the company needs to carry on doing the real business and MAKE MONEY lar, don't just sit to lick the wounds or simply liquidating assets, for the next 3 quarters. If the board is serious enough to carry on with the business, book orders need to be piling up, to give hope as a going concern.

Hoping for the best...with a concrete, workable and detailed Corporate Restructuring Plan in place, the company will be much stronger and will lead the industry in the years to come.

@KWL, emm, if I get the opportunity, I will get you in too...

TS Bekir is a seasoned businessman, kuat main syer market kot. Beli sini, jual sana, etc. I am sure he will come back once prices going up...insyallah.

@kiwimelon, me too, paid trolls everywhere, but do you know how to enroll to be one? I need income for my studies.

Good morning everyone, looks like there's going to be some good news in the making....just my gut feel.

Posted in Bursa KL announcement:-

Reference is made to the Company’s announcement dated 21 September 2023.

The Board of Directors of the Company wishes to announce that the High Court of Kuala Lumpur has reserved its decision on the Company’s RO Extension Application until 2 November 2023. Further development in relation to the RO and SOA will be announced in due course.

This announcement is dated 30 October 2023.

@Adagold, obviously the Malaysian team would die too, given the fact that the Creditors' group Chairman is planned for expulsion from the board by the German team. I wouldn't be surprised to hear that the RO has been retracted.

If a person is requisitioning the removal of directors from a company's board, naturally they would have studied the background of each director and whom they are representing, or where the nomination came from for the director to be eligible to be appointed to the board.

So, either way, the bilis are dead caught by the sharks...

@KWL, yes, you are absolutely right. It can be approved, and otherwise rejected, too. It can go both ways. As @doubleup mentioned in this forum, one of the resolutions put forward by the German team was the removal of the Chairman of the creditor's group, Mr Ho. Unfortunately, Mr Ho was voted to be removed from the board by the shareholders. So, the situation is uncertain, whether it will affect KNM materially or not.

Good morning everyone, it's a sunny day, hope its a fruitful day for everyone.

@bullrun168, thanks for the tips. Cheers

@Medusa, one of the defendants cannot be traced? Hahaha. No wonder the forum here is so quiet, some fellows have bet on the wrong horses.

@doubleup and everyone..... hello hello hello, another new week, with lots of wars going on in the west, scary it would spread elsewhere.

Well, if there wasn't any requisition to remove the directors including the court-appointed director, this would not have happened. How would the opposing party be so negligent as to ignore and propose the removal of the court-appointed director in the first place? However, anyone on the Board can be removed by the shareholders, as the powers remain with the shareholders. Obviously, there will be related consequences when such things happen, more so a representative of the creditors, also a Chairman, and he was duly appointed into the Board. hahahaha. Well, the current board needs to nominate him and reappoint him back into the board, again then. Alternate option is that the court can give a ruling on the reappointment of the director to the board once again.

@Kyliew, hiya... and hi everyone....hope you guys have a fabulous weekend ahead.

Well, as long as the share price doesn't dip below 9sen, it's already a good sign. Haven't seen or heard anything so far, but I reckon a court hearing next week will be an important one for all of us to look out for. Hope for the best.

@maxwin69, hahaha, nice one. Tenaga must be very clever in coming up with reasons. Well, if we can recall, the last hydro dam built in Malaysia was the Bakun Dam in Sarawak, opened in 2011, capacity 2,400MW. Costed RM7.4bil, largest in Southeast Asia, biggest producer of electricity, etc. etc, Malaysia Boleh maa!
BUT, they forgot, the demand of electricity now is in Peninsula Malaysia, not in Borneo (or maybe now it will have the demand since Indonesia is building its capital there, so can sell electricity to make money). The wasn't any new hydro dams built in the Peninsula Malaysia, so the supply is fixed. Our population has been growing, now standing at 35mil. Most of the big tools at home uses electricity, demand increases. As the demand increases, they sub-contract to cronies' private companies to generate electricity using fuel or coal. In summary, people just know how to enrich people maa, not safeguarding the environment.

@Adagold, hiyaaa....hope you had your breakfast, looks the market strengthening again.

Yes, no worries, I like the challenges, so to your comments, if EV battery operated cars will be a sustainable business. Well, it will be the complementing factor of the transportation industry for sure. However, have you heard about "hydrogen powered vehicles"?
Hydrogen cars are more expensive than electric cars, due to the current technology that haven't reach the economy of scale. However, we can purchase electric cars at a more reasonable price and find thousands of powering\charging stations for EVs.

Nevertheless, refuelling hydrogen takes 5 minutes, but EV charging takes a solid 40 minutes. Then, you have those used batteries over time that will be dangerous to mother earth, as it's made of carbon. On the other hand, hydrogen waste product is WATER or vapour! It's the best zero-carbon vehicle you can ever find. Coupled with superpower energy into your car, there's more to ask. EV cars are still a toy for the children to learn how to drive a car, hahaha, it still drags on the road underpowered.

So, in summary, EV cars are still hazardous to the environment.

@i3lurker, had your lunch already?

@i3lurker, what do you see fake information in my comments?

There are 2 types of materials to produce fusion nuclear at the moment: hydrogen isotope that can be extracted from seawater called deuterium. The other one is use lasers to heat and compress hydrogen fuel to create fusion.

What Are The Key Differences between fission nuclear vs fusion nuclear?

1. Although both fusion and fission use atomic energy, there are a number of key differences between the two processes:

2. Fission releases energy when atoms are split, while fusion releases energy when atoms are joined

3. The fusion reaction releases more energy than fission

4. Fusion doesn’t produce harmful long-term radioactive waste as a by-product like fission does

5. Fusion needs more energy to accomplish than fission does. The energy required for fusion has been a barrier to its widespread use for energy generation.

@Adagold, you are indeed right. Apart from what was already planned or in place for implementation, future 3 yr or 5 yr planning is vital too. Today, I read about Petronas' subs to do feasibility study on hydrogen piping from Malaysia to Singapore. Hydrogen is the in-thing going forward for green energy, which KNM already has expertise in. This is the future to forge ahead for KNM - hydrogen! Unlike nuclear, which if mishandled will bring grave results to the mass, hydrogen is very much less dangerous and easier to handle. The nature of KNM business supports products to the O&G players. While it can find niche in this support product, a more exclusive strength needs to find its place in KNM's goals for business sustainability. Fossil fuel will be a bygone hot popular thing in the next few years or more.

Somebody is accumulating shares...

oooh, going 11sen now....

The share price is gradually going up, the floor price is 9sen, most bilis cost price. Back to 10sen already.

The long history of dumping the founders of KNM is called BETRAYAL. You are nothing better than a mere betrayer of all the stakeholders. KNM isn't your blood and sweat, but you wanted a share of someone's blood and sweat, and claiming it's your inheritance. Shame on you.

@MacDee34, instigating is not bringing you fruits, as your interpretation is outdated and dreaming, under hallucinations. Please stop taking any illegal substances to divert your mindset. Fight with real facts, real information, people will respect you.

Notice @KimChun31 joined 2023-10-19, is a fake troll accounts, under @MacDee34, trying to fight for a losing battle, the fallen Lucifer.

@KimChun31, you have a very shallow mentality and are poor in research skills.

Your comments saying the following are misleading, and does not translate into the correct facts of what happened, "The Tunku Yaacob's men were on the board of Malaysian Merchant Marine (“MMM”), before it was delisted. History normally would repeat itself again? Before MMM was delisted, the price of shares would drop to RM0.005, with sellers queueing at RM0.005 and no buyer queueing."

Ravi the CEO of MMM resigned within 6 mths of appointment, on Nov 1, 2007. Three years @ 36 months later, MMM went into PN17 and 1 year later it was delisted. All common directors of Melewar resigned, and shares disposed completely in 2007 by Oct 31, 2007. Please go to i3 database and search for yourself, if you are doubtful. Unfortunately, I reckon you lost your underwear in MMM with their ships sunking down under.

Please comment based on facts, everyone will understand your points. Misleading and untrue information will put you behind bars one day..... By the way, history don't repeat, people get smarter and sleeker with experiences.

46mil traded is a good volume though @ 9sen - 9.5sen. Seems like not many sellers are willing to dispose at this point in time.

@Woodswater, thanks for the lengthy clarification, truly appreciated it. Yeah, anything below 9sen is a good buy for long-term keep.

@Woodswater, nice clip of Micheal Knight and his AI-talking car, KITT. Any point I am missing here? Who is saying farewell to who?

@Bullkobear, it's falling already alright, but with a string attached to it... to catch the bilis2..

@AuntyLee, kam-siah

TAPI ahh, Bursa KL dengan semua market, general season DOWN until year-end, its annual thingy, winter coming up. IF Gaza war prolonged beyond Oct 30, mati lor, it will become lower than any other years, except O&G, winter coming, price will go beyond USD160

@AuntyLee, kalau pergi Bursa KL, ada old-timers kasi tip2 memang chun lo....

@bullrun168, anything below 9sen is good, you can wait, you can buy, but it will be back to 12sen just before AGM, usually annually right? PROVIDED if you have the holding power, otherwise, please dont look at this counter until after AGM.

@AuntyLee, ini hari ah, ada tip kah? mana counter boleh kasi untung?

@AuntyLee, saya budak sekolah saja, Ravi mau bikin apa, saya tak tau, tapi saya boleh agak2 lar. Pakai software AI-assisted tool, nanti, saya key-in ciri2 AuntyLee, itu software tau apa counter main, macam mana punya risks Aunty suka, etc. Nanti, jumpa dekat Bursa KL, saya kasi explain sikit Aunty....

@Kimchun31 aka MacDee34, whether history repeats or not, one thing is sure, your "loose" mentality will definitely ensure you repost REPEATEDLY. Dei loose-paiya, poothum daa...

@SGX6138, thanks for the lovely comments. True enough the shareholders have spoken via their votes. Losers need to accept it with a pinch of salt and move on... don't get carried away with silly doubts, suspicions and devilish acts, it will backfire on the shareholders, on Heeschen himself, the rest of the defeated aspirants directors didn't own any shares, nothing to lose.
Any counter actions will slower the board's initiatives, wasting time to defend and waste of company funds. They needed 9 months, give them that, if nothing happens then, the power is in the hands of shareholders. Without giving them a chance, shareholders just letting the sharks to eat you up. Think about it, think rationally. If good things happen, give due credits. If failed to execute, criticise till kingdom comes. Till then, support the company, after all its the shareholders company.

@yowza2288, to reciprocate, Tupac' s "Life goes on..."

https://m.youtube.com/watch?v=3HMRLEceXMM

2. RO by the court will be extended until the surveyor reported his findings, and its the truth there is nothing wrong with the SOA, each and every creditors will be PAID IN FULL WITH INTERESTS as of March 2023. Nobody needs to lose their pants to do dealings with KNM. AAX did 95% haircut for its creditors and tried to uplift from PN17, failed yesterday. KNM is giving NIL haircut, what the worry? The board had given their assurance. If they failed, then, fair enough to make them accountable for it.

3. KNM will successfully list Borsig at SGX. Perhaps as a token, KNM board may, insyallah, gives redeemable share options to KNM shareholders to buy Borsig shares, so everyone will be equally rewarded. God willing.

4. KNM will be back to 40sen in 12months time, just watch by the side...

5. Borsig will flourish and benefit everyone. ✨️ They will set their footprint stronger and build their hub for Asia in Malaysia 🇲🇾 ❤️