Last mile. The good news is that the deal is done, pending final details of the nuts and bolts. The bad news is delay due to upcoming festive holidays Christmas and New Year. We expected completion last week but as usual, corporate matters involve delays.

Although things look good now we will never know until it's sealed. Everyone is already off for year end leave on both sides. We can only hope for good news before CNY 2025. This wait is torturing. I'm going to play crypto first. It's good time to buy in because cryptocs dropped almost 30% over the past few days. At least it can help me to destress. Who knows? I may make a windfall in the upturn. Cryptos can make money in days instead of weeks and months. Just pray I don't catch that bloody falling knife.

Since this counter less risk I will just hold. If in case the price suddenly go up more then sell slowly. But with this current market not likely.

Yes, time is running out. But the deal is still on track. From what I know the buyer is still very interested but they have some internal compliance issues to iron out. And probably a bit of haggling on the price. Let's hope it won't derail the deal. Fingers crossed. I will keep our friends updated if I have any info. The management is keeping a tight lid on this deal for some reason. Hope they give shareholders a pleasant surprise instead of a nasty one when the time comes.

Auntylee, oredi reported officially. That's why court case ongoing.

Especially the ungrateful guy who brought down the Lee family. All the problems that KNM are facing today started with that episode. He was trusted by the Lee family and turned around to bite the hand that fed him. He was plucked from a boring dead end job running outstation hotels and resorts and given a hefty salary by the Lee family. I guess he got greedy and wanted more so he conspired with that Italian Flavio guy to overthrow the Lees.

On top of that Tunku has to borrow 13m from MAA just to pay arrears of salaries and EPF.
He really has to go to great lengths just to save the burning ship.

Compared to some former management staff who stole 10m from the company and are now under investigation with court case to answer.

Tunku buying up more shares via his MAA Group.
https://www.thestar.com.my/business/business-news/2024/05/11/maa-raises-stake-in-knm-group-to-135#:~:text=PETALING%20JAYA%3A%20MAA%20Group%20Bhd,loss%20making%20KNM%20to%2013.54%25.

Hup Seng is commendable, well-managed. That's why it's making money and we are getting dividends. I think we can continue to make money.

These counters got dividends. Investors sayang want to sell. So price still high loh.

The deadliest gunmaker in the world.

https://www.dw.com/en/how-a-german-gunmaker-became-one-of-the-worlds-deadliest/a-43776224

And Andreas Heeschen is the boss and CEO of Heckler & Koch. The firearms sold by the company have killed an estimated 2 million people, including Mexicans and Muslims in conflict zones.

That company is Heckler & Koch, the German company belonging to Andreas Heeschen, trying to takeover KNM in Malaysia.

MCMC calls for ban on companies supplying firearms to Israel's army used to kill women and children in Palestine.

https://www.youtube.com/watch?v=nkc93Ut0U6U

This clearly shows McD has a complete lack of respect and understanding of the law and the Companies Act, 1965. That Mr Ho's guy's removal is ultra vires, he is court-appointed and appointed chairman by the two main creditors. Tunku didn't cincai appoint him back.

Haha what else McD don't know? Maybe he don't know the crooks Flavio and Tan need to go to court to explain to the judge they didn't do CBT? McD keeps reading the wrong document, his favourite ES. He should read Companies Act instead.

Now he has to play that trolling record all over again. "Don't listen to this list of people..." Hey, did I say any fake news so far, all this while? It's in the announcement. https://www.klsescreener.com/v2/announcements/stock/7164

Wait... It ain't over until the fat lady sings...

After the EGM we thought Tunku won and German guy end of story. After the dangerous event yesterday suddenly it seems German guy won after all.

But is it the end for Tunku and Team Malaysia? Haha... More drama and suspense. Don't give up first. The story not ended yet.

But let's forget about Tunku and his gang first. Look across to the German camp. They also have interesting things going on. Flavio and Terence have to appear in court to answer to charges of misdeeds at KNM. They got rid of the Lee family which indirectly led to KNM's problems today. Let's focus on this movie first while we let Tunku lick his wounds in the aftermath of that EGM. He will be making a comeback to fulfil his promises of selling lots-making subsidiaries and listing Borsig. If he can't do that then mampus dapao loh. At this point we can only say that all is not lost.

Tomorrow is a critical day for KNM. Their RO may be lifted by the court. Let's hope for some miracle so that Tunku and his team's hard work can continue.

Mahmud Bekir just want to help his friend the Tunku for the EGM. Now Tunku survived the EGM, Mahmud job is done. He can continue to hold his shares but avoid the limelight by becoming normal shareholder and not substantial shareholder. There are some disadvantages of substantial shareholder. They are watched closely and need to comply with regulations.

Yes, OtisKL, how nice if we can get some gaji as paid troll. So far I enjoy all my trolling everywhere including Facebook and Whatsapp. It's very fun. If I get paid it would be nicer.

Kimchun and McD sound like a broken record. Keep repeating the same song. The motive is to spread fear among investors. Don't know what's their motive, but definitely up to no good.

McD keep publishing a list of new accounts and asking members not to listen to them. Kimchun keep saying current management will kantoi and KNM will be delisted. Repeat and repeat.

The fact is that the SOA has been accepted by creditors. McD keep harping on his ES but the members don't even know what or where is that. So, not surprising he is treated as cybertrooper and fake news peddlar. For a change, post some facts la, not your speculation to scare investors. Adoi...

I'm sure Tunku and his team can make some respectable figures for KNM. To pay things in perspective, or few large banks in Malaysia making few billion ringgit profit year after year. But even Borsig so powerful also making much less than that.

Big public listed company. Don't say a lot lah. Make one billion profit so difficult meh? Ringgit only woh, not USD.

The big event is over. Not sure whether there is part two. Tengku girl maybe want to appeal the EGM results.

Now everybody relax take a breath first. Also see how Tunku perform now that he win already. He need to sell off loss making businesses and list Borsig successfully.

Pay off debts, then get more business for KNM. Then nobody can kick him out again. Otherwise...

Wow! Good morning fellow Malaysians. Yes, this is a matter of national pride and a strong no for Mafia gang. Let's do it! 🤝

Medusa, I concur with your prognosis. Bilis must get ready to runnnnnnnnnnnnnnn...

lurker, I think your statement is fair. People doing arms business must keep their word. Furthermore, people can always argue - if you do charity it doesn't prove you are an angel; if you do arms business you may not be the devil either. It's hard to come to a conclustion although I personally feel that weapons help to create more conflict.

However, my complaint about Flavio and Heeschen is about them stealing from the company. I have read a few reports earlier about German guy stealing money from his own Heckler & Koch company. Or rather, treating his company as his own personal ATM machine. Worse thing, that money that he steal for his enjoyment is borrowed money. It's not even his company's money.

If that is true then KNM mampus loh. He would do the same. And the Flavio guy kena police report maybe is guilty of the same. There is a saying, birds of feather flock together.

https://nottsantimilitarism.wordpress.com/2010/05/25/hk-shareholders-sued/

This is a personal blog and not official news. I don't live in Europe and cannot say about German guy reputation there. I read it some time back, I didn't post earlier because it's not mainstream media. But they say there is no smoke without fire...

Yes, OtisKL. We deal with facts and official news. Shareholders will know when members have to go so low for personal attacks and blacklisting. They should simply point out which of our post is fake news. That's all. Anything else is not important. Everyone just want to make money.

MacDee34 sounds like a broken record, isn't it? Playing the same tune over and over. He's blacklisted a lot of people because they post facts supported by mainstream media. He has nothing much to offer in that area except the same news report that says German takoever and removal of all current management board is good.

Only one miserable article is all that he has to go on. No choice, he has to keep repeating that only. So much so someone suggested that he must be a German keyboard warrior. Because he is an insider.

But based on what he is posting I am beginning to suspect he is more than that. He seems so desperate. Most likely he is that partner in crime mentioned in the police report. His best buddy is Flavio the Italian. What's his name again? Terrence Tan. Right, I think he is MacDee34. Otherwise why is he so desperate to side with German to fight against Malaysians?

Let me check that police report again, https://corporatesecretsmalaysia.blogspot.com/2023/10/is-flavio-fit-to-be-run-knm.html

We feel concerned for shareholders especially the bilis. They may stand to lose money if the German is successful in the EGM tomorrow. But chances are almost zilch. Here are some good reasons why Team Malaysia is certain to win tomorrow.
https://focusmalaysia.my/top-8-reasons-why-knm-shareholders-must-vote-for-existing-board-at-tomorrows-egm/?utm_source=Newswav&utm_medium=Website

Last salvo from Team Malaysia. Let the voters/shareholders decide, whether they believe German guy plan. Or, more importantly, whether the creditors believe or not. Not up to us to say...

CEO Ravi challenge German guy to tell who is going to lend him money.

https://www.freemalaysiatoday.com/category/highlight/2023/10/15/proposed-rm550mil-bond-pie-in-the-sky-says-knm-md/

Up Up! Sure win...

https://www.thestar.com.my/business/business-news/2023/10/12/borsig-ipo-to-alleviate-knms-financial-woes

Borsig boss says, "If the upcoming EGM on Oct 16 results in favour of the current management of KNM, it has the potential to not only enhance the value of Borsig through its IPO but also uplift the entire KNM Group,” he commented.

We have to always remember, whenever there is money involved people will become genius and come up with wonderful ways to cheat. Humans are capable and very creative. Never underestimate.

@OtisKL

You say you are student. Then you gotta realise the money business world is really a jungle.

If you don't believe me just go and Google, "fraud cases involving big five audit firms" then you understand what I mean.

There is always more than meets the eye. That's why I always advise people don't all-in no matter how good the odds. We never know.

That's from the heart of one investor to another. There are a lot of people who believe in auditors, professional and authorised people. You can't imagine the amount of scam in the market. Take it from me, an old man in the market. Peace...

@OtisKL

It has been mentioned before. It's up to us to believe it not. The current management have their hands full trying to turn around the company and clear the mess left by the previous management especially Flavio. So they didn't have time to pursue the mess created by the earlier culprits. They had no choice but to go after Flavio because he kept making problems.

Finally they conducted the forensic audit and officially lodged a police report for wrongdoing.

@OtisKL

You're right. We have to understand rich people. They only want to enjoy life. You think they got no other better work to do meh? If the guy is not really his friend why he want to bother waste his time go out of the way to support him. He might as well stay at home, enjoy his beer and play with his girlfriends, right?

Tunku is really his friend loh. Otherwise he buy the share and vote Tengku girl meh? To me it doesn't make sense loh.

@OtisKL

No conflicting facts lah. Earlier report also quoted Mahmud Bekir got full confidence in Tunku.

The only conflict is when Tengku Kamariah says Mahmud is her friend and will support her. Tat one she own self say ma. Mahmud never say. So, news report no conflict ya. They just report exactly what these two people say.

I also post only the facts as published by the media. Only some people depending on who they like it don't like, will selectively consume the parts of the news that fit their narrative. I'm not blaming anyone. All of us have our own bias.

@Medusa

Sorry no offence ya. MacDee34 sayang you I'm fine. I just feel not fair treatment for others loh.

@MacDee34

How come the same news one is ok, another is fake troll? When somebody say corporate mafia you say fake but when Medusa comment corporate mafia you say ok. Like tat double standard not fair leh

Regarding the SOA meeting which was postponed it is up to anyone to interpret. We understand that the two biggest creditors are ok but now there are reports that some creditors are not happy.

If I were the court it's only logical to postpone until after EGM. What's the point of approving things at the SOA and then there's a new management taking over? It would be a total waste of time, right? Why not give the current management the time to put their house in order first? The SOA can then be held at a slightly later date. My two cents.

They are really efficient. The Edge just published the new about Flavio.
https://theedgemalaysia.com/node/685848

@Auntylee,

Betul cakap Saya ada pigi Borsig road show. The whole management team was there. Many investment bankers ada attend. Some people say Borsig cannot be listed because of KNM problems. But if it cannot be listed then why are all the investment bankers there? Only The Star paper invited for the event. And other corporate site bosses also there. And big police guy also attended.

Lagi Bos Juergen dari Germany ada sana explain the whole company profile.

Oops! Medusa just confirmed my writ is real. Thanks, bro. Where you got it, so fast?😀

@OtisKL,

I went to take a look at MacDee34 posts. This is what I gather. He's a Tunku hater. Anyone who see his posts can see that. For what reason I wouldn't know. But for me it's fine. We all have our own prejudices, who we love and who we hate. There must be some reason.

His posts date back few years. His comments are not biased. My conclusion is, he's not a bad guy. Totally unlike Flavio or Heeschen. My advice to you bro, don't get upset with his comments. Most likely he's going through a rough patch in his life at the moment. He's not thinking straight.

His posts are emotional, subjective and speculative. For example, how to value a business. It's based on few factors and it's dynamic. The value today could be rather different from last year.

Even when the creditors and bankers are ok with the management's proposal he says they won't like it.

I don't know about others but I post facts. The writ of summons for Flavio is not fake news. Within one days two there will be announcement to prove it. Otherwise I will close my account and won't comment again. Cheers, bro! Peace...

Just in.

A writ of summons has been issued for Flavio to appear in court to answer to allegations that he ciao rm18 million from the Borsig deal to sell the company earlier.

KNM will make announcement shortly.

I think it's the end of the road for these foreign guys. Adoi

This news says very clearly Mahmud Bekir Taib want to support his friend, Tunku Yaacob, and not his other friend Tengku Kamariah. https://www.thestar.com.my/business/business-news/2023/10/10/knms-fate-hingeson-two-meetings

Mahmud say, “I have the fullest confidence in the current board of directors under the strong leadership of Tunku Yaacob Khyra. They have formulated a very sound plan for KNM.”

We cannot tell rich people how to use their money, which toy to buy. When you are too rich don't know what to do with money. Haha... they like to support friends ma. Especially when their friends are disturbed by foreigners.

German camp have no choice but to stop spreading fake news. Mahmud Taib is standing behind Tunku all the way. He is not on Tengku Kamariah's side and he has no plans to take over KNM for himself. He is just supporting his buddy Tunku.

BTW German crook know his mafia gang cannot help him. They are selling off quickly to liquidate and cut loss. At the same time they are telling their supporters everything is OK and the EGM is on track. Why? So that they can keep up the price while they are selling. Like Medusa say, Runnnnnnnnn.............

Some people may be wondering - Johor and Negeri Sembilan royalty fight, is it? Nolah, don't be mistaken. Johor and Negeri Sembilan, as well as Sarawak - they are all good friends. No fight. It's only money ma. And to them it's small money. Tunku is a very hands-on guy. He's always on top of things. Tengku girl listen to sweet talkers, and get different story. All of them hold no grudges against each other.

16/10 is the date where everything will come to light. It's only days away. Good luck, everyone!

Yes, OtisKL, you are spot on!

Today, at the Borsig road show, Tunku outlined the concrete steps to get KNM out of PN17 by year end.

And, as you say, there emerged a substantial shareholder in the form of the son of TYT Sarawak. A lot of people believe he is actually the richest man in Malaysia. And he is backing up Tunku to save KNM and to list Borsig.

The Italian/German gang and their corporate mafia immediately retreat and mafia gang beg for forgiveness from Tunku. I believe the upcoming EGM will be a non-event as they are exiting the Malaysian scene. The reason is that not only White Shark son is behind Tunku; there are two other multi-billionaires behind him also. That why Flavio and Andreas are shitting bricks right now.

I believe you are right about MacDee34 also. He must be a disgruntled staff of KNM. Well, successful people understand that this world is not fair. We just have to live with it. Like they say, there is no point crying over spilt milk.

@OtisKL

Earlier some people also suspicious of my posting because I was new guy. I think it's not a crime for new members to post. To me the important is to post facts and not fake news. Doesn't matter new guy or old guy. And I don't mind any personal attacks. I am old uncle. I learn how to ignore any comments and focus on making some money and stay happy everyday. I'm sure people have their reasons to like to don't like someone.
All of us have our own personal problems and grudges. If we keep thinking about them we won't be happy. Otis, I think you are fair guy, your comments not biased.

Todate, some of the facts are:-
(1) Borsig road show is on. It's tomorrow and the news will cover it. Share price likely to go up because of this event that gives confidence to investors. Some people may not like our Tunku but I think we have to give him credit for this event.
(2) Andreas is an illegal firearms dealer. His company has been sanctioned in Europe and his senior staff are in court at Stuttgard for corruption and wrongdoing. The creditors and bankers most likely won't like him to run the business at KNM.
(3) To me, that Flavio guy is a crook. If the reports are true, he fleeced the company of millions of dollars. A police report has been lodged against him.

Good luck! Tomorrow all of us make some money.

Haha Up Up Up! Let's go for it, guys!

Can't wait till Monday to load up. (Rubbing hands...)

Up Up Up today last day of the week. It will finish strongly.
Thinking of loading summore. Or sailang...

Up, Up, Up! 20 sen...

Early morning got good news in the papers. Today price sure up up again.
https://www.freemalaysiatoday.com/category/business/2023/10/04/knms-restructuring-plan-has-support-of-creditors-says-board/

@OtisKL
Yes, do business not easy. The Lee family clever to build their business, do marketing, handle the production. But they not so strong with the financials. That's why bad guys took advantage and kantoi them.

Have to watch out for so many things that can kill a business. Too high debt also can cause business to suffer due to interest expenses. But sometimes even with lower debt companies still can get into trouble. They need to manage their cash flow well also. Sometimes we see from outside like very easy but there is so much skills involved.

Let's look forward to 20 sen tomorrow...