@Squirtle No more ESOS.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3448071
ESOS not something initiated by TY, it was abused by the LEE to enrich himself and his undeserving family members.

Ada orang nak kacau kacau!!!

The Board of Directors of the Company wishes to announce that the Company has on 21 May 2024, received a written notice from Messrs. Cheang and Ariff, representing the following members of the Company:

Tan Khye Yinn
Chang Hui Kee
Mah Wai Leon
Wang Hee Heng
in relation to their intention to propose the persons named below for election to office as Directors of the Company at the forthcoming Annual General Meeting of the Company scheduled to be held on Thursday, 6 June 2024, in accordance with and pursuant to Article 116(i) of the Constitution of the Company:

Wong Toh Sing
William H Vanvliet III
Wan Kamaruddin Bin Wan Mohamed Ali
Sakthi Kumar A/L Ramadas
Further development on the above matter will be announced to Bursa Malaysia

The way @MacDee34 strung his arguments to put down TY clearly shows that he is nothing but a vengeful person. He accused TY of corruption but provide no hard evidences. Go to the police or the securities commission of Malaysia, these are the two bodies that has the power to investigate.

why have to sell peterborough and thai ethanol, they are both good assets. Once money come in from the borsig listing, these two promising assets would be able to generate profitable income. The Thai factory went into disarray all because of nepotism(you know I know everyone know who this giver and who the receiver were) having a novice in charge.

So how much did Tunku pay for his latest off market purchase of 91Million shares? @16.52Cent/per share?

When is quarterly report coming out?

@Kimchun31 why don't you create another 100 i3 accounts and post the same article 100 more times.

why is @i3lurker using an angmo photo as his profile pic? He want to be seen as an angmo not realising that the world is moving towards the east, pity him.

Another way to look at this drop is there are still so many buyers willing to buy up the near 300millions shares. This is very promising for KNM.

Need to break 13c resistance for KNM to limit up

Over a billion shares traded after the announcement of takeover yet we see very little movement in price. I would have expected it to be in the range of 20-30c. If the competing parties are accumulating, they are getting them cheap. Too many weak sellers preventing the price movement.

Borsig is being listed in SGX as a separate entity which has been operating as an independent business within KNM group. A company must have an annual turnover of min US300mil and in profit for the last 3 years, both criteria have been satisfied by Borsig.

Target price is 50c.

Hostile takeover is good for small shareholders, they have to offer attractive premium to succeed.

Andreas Heeschen - are we looking at Heckler & Koch's Andreas?

Very good quarterly result. High revenue with good operating profit albeit dragged lower by finance cost. Very promising in the medium term.

@Woodswater we don't need a fool or a clown here

The sell down likely from Lee/Gan which they shamelessly milked from KNM through ESOS in the past.

Best is to list BorSig not sell.

Once the banks margin call Karim, you will see 0.005!!! Boh chao si!!!!

Excellent move. Concentrate on renewable energies both Peterborough and Thai Ethanol, these are the futures. Do it right this time and KNM will be flying again.

so what is the announcement? Suspension as per circular is only for between 2pm to 5pm 23/5. Why no announcement yet????

Mabel is not as bad as PearlWhite. PearlWhite was still promoting at the very dying days of Serba. Where is PearlWhite now???

walau when is the fall going to stop????

Non cash impairment especially against Good Will is nothing of concern. This is showing that the management is responsible enough not to inflate the worth of a company.

@KNMpower don't you think you are so annoying, making irrational statements without facts.

@dompeilee care to share who the director?

Where is @PearlWhite? SC has charged the top management of FAFT. Ain't you coming out to defend your article "The devastation Serba Dinamik suffered due to the abuse of Qualified Privilege that fuelled negative publicity with unsubstantiated allegations".

@KNMPower What do you think caused the share price to drop from RM0.32 to RM0.15 in two months? It is because of the non-payment of the thai bond.

@KNMpower these maybe old stories but are to show that the bond was raised for the expansion of IEL 2. Question now is IEL2 never happen but bond money gone. Don't you think we deserve answers?

https://www.theedgemarkets.com/article/knm-proposes-us80-mil-thai-bonds-fund-bio-ethanol-plant

https://freesuntimes.com/knm-group-berhad-impress-ethanol-thb2-7-billion-bond-scandal-exposed/

@Rahmat88 I 100% agree with you. What happen to the 350Millions LSE/GSL? Hope the new board dig into this and if there is CBT committed then bring them to court.

This shameless MADAM GAN SIEW LIAT who manipulated and cheated both employees of KNM(via ESOS) and the general investors KNM(for being incompetent and practicing nepotism) should be publicly shamed. Do not allow her to enjoy her ill gotten loots in peace!!

Judging by the announcement, refinancing efforts are ongoing and in final stages. I anticipate good outcome in a few days time.

1. Introduction

Pursuant to Chapter 9.03 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of KNM Group Berhad (“KNM”, the “Issuer”) would like to announce that a non-payment event has occurred in relation to the payment of the principal sum and coupon on the bonds issued by KNM in Thailand amounting to THB 2,780 million (equivalent to approximately RM 352.57 million) (the “Thai Bonds”). The Thai Bonds are guaranteed by Credit Guarantee and Investment Facility, a trust fund managed by the Asian Development Bank (the “Guarantor” or “CGIF”).

The Thai Bonds had matured on 18 November 2021 and under the terms and conditions of the Thai Bonds, KNM has up to 14 days after the maturity date, being 2 December 2021, to pay the principal sum and up to 21 days after the maturity date, being 9 December 2021, to pay the coupon arising therefrom (“Grace Period”), failing which, an event of default shall be deemed to have occurred.

2. The reasons for the non-payment

KNM has encountered challenges and delays in refinancing the Thai Bonds due to the COVID-19 pandemic and unfavorable operating conditions of the KNM’s subsidiary in Thailand namely Impress Ethanol Co. Ltd. (“IECL”) which owns and operates an ethanol plant in Thailand.


3. The measures by the listed issuer to address the default in payment

KNM is in the advanced stage of discussions with several financial institutions to secure new financing facilities to redeem the Thai Bonds. However, the final approval decisions of these new financing facilities are expected to occur only after the maturity date of the Thai Bonds.

In addition, KNM has also appointed consultants to monetise the investments of KNM, including disposal of assets / shares in IECL.

KNM is in close communication with CGIF on KNM’s ongoing refinancing plans to address this non-payment event and where applicable, to reimburse CGIF the guaranteed amount paid by CGIF to the bondholders. Under the guarantee agreement between CGIF and the Bank of Ayudhya Public Company Limited who is the bondholders’ representative for and on behalf of all bondholders, the bondholders have the rights to make a demand for payment of the guaranteed amount from CGIF within the demand period in the event that the non-payment event is continuing after the Grace Period.

4. The business, financial and operational impacts of the default in payment on the listed issuer

The non-payment event may have an adverse impact on the financing facilities of KNM and its subsidiaries (“KNM Group”) in the event that the respective financial institutions suspend their financing facilities granted to KNM Group pending the resolution of the non-payment event. Nevertheless, KNM shall endeavour to continue its other remaining business operations notwithstanding the non-payment event and will engage with the lenders and suppliers for their continuing support.

Most Ethanol producers are making good profits, how come Impress Ethanol is in the red. This is clearly a result of poor management.

Share price will not improve until a decision is made of how the bond is to be settled

Wonder where all the bond money gone to? What was the money used for?

Suing KPMG, EY, SD, and enening KL Screener.
Hard to comprehend why so many are being sued for doing their job.
There is no benefit for them to gang up on Serba.

Next week SCIB is likely go below 20c, 10c is also a possibility with the risk of suspension hanging over its head.

Serba lucky already suspended else will see limit down too. If suspension lifted without any good news then will see limit down as soon as the opening bell.

SCIB limit down!! If drop >30c suspension will kick in.

Sorry Pearlwhite EY is engaged to affirm the veracity of the financial statements not to spot fraud, after two months they are still not able to affirm, meaning that they are unable to cross match what is stated in the statements and what is on the grounds.


ǷearlꙌhite .
Cannot spot fraud after 2 months is worrying indeed.

Judging by this statement “ EY did not suggest that they were in a position do so”, it is obvious that EY is unable to verify the veracity of the financial statements. This is so elementary, a failed 1st year accounting student would have no problem deducing it.

Outrageous response from the BOD. Unless the documents are aligned with the BOD expectations then they are not "Factual Findings Update". I sure like to hear what PearlWhite and Mabel think of such a response.

How could the board of directors kept quiet, not a single word from them after the suspension.
This is unacceptable and is the most serious of disservice of the BOD. Good or bad there should be statement issued first thing in the morning. The BOD should hang their heads in shame!!!

ok crunch time is coming soon, kepala i win ekor you lose.

For Karim to sell as such a low price, something ain't quite right. Simple logic, if SIR is good surely warrant price will shoot up, selling before SIR out can only mean SIR is not favourable. Think with your head don't follow your emotion.

@solomolo unfortunately your understanding of warrants is wrong. Warrants carry no monetary values to the company, only a right for the holder to subscribe for mother share on an agreed amount. So if it is not exercise, the warrants will expire and become worthless. Thus if Karim is selling his warrants it could either mean that he has no fund to exercise the warrants when it is due OR he thinks that it will be cheaper to just buy the mother shares from open market. Another unlikely possibility is that he is low in fund and need the cash.


Posted by solomolo > Oct 21, 2021 6:53 PM | Report Abuse

means who buy warrant shares ..automatic money go to mother share if u not sell...and up the price mother share profit....good strategy what
21/10/2021 8:00 PM