Top up more IWCity at @0.615

Oil jumps 2% as hospital blast increases Middle East tensions
By Arathy Somasekhar and Muyu Xu
October 18, 20232:16 PM

https://www.reuters.com/business/energy/oil-prices-jump-2-supply-worries-after-large-us-stock-drawdown-2023-10-18/

Oct 18 (Reuters) - Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region.
Brent crude futures advanced $1.75, or 2%, to $91.65 a barrel at 0609 GMT. West Texas Intermediate crude (WTI) futures were up $1.91, or 2.2%, at $88.57 a barrel.
In earlier trade, both benchmarks gained more than $2 to touch their highest levels in two weeks.

Markets factored in risk premiums after hundreds of Palestinians were killed in a blast at a Gaza City hospital on Tuesday that Israeli and Palestinian officials blamed on each other.
Jordan then cancelled a summit it was to host with U.S. President Joe Biden and Egyptian and Palestinian leaders.
"The cancellation of a summit between Biden and Arab leaders reduces the likelihood of a diplomatic solution to the Israel Hamas conflict," Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a client note.
Markets are nervous about a threatened Israeli ground offensive in Gaza.
"A long occupation looms as the scenario that pushes Brent oil futures above $US100/bbl because it raises the risk that the Israel Hamas conflict expands and potentially draws in Iran directly," Dhar said.
Biden is set to visit Israel on Wednesday to show support for the country in its war with Islamist militant group Hamas. The White House said he will make clear he does not want the conflict to expand.

Also supporting oil prices, U.S. crude stocks fell by about 4.4 million barrels in the week ended Oct. 13, according to market sources citing American Petroleum Institute figures on Tuesday. That was much steeper than a 300,000 barrel draw that analysts had forecast.
Official U.S. government data is due later on Wednesday.
On the demand side, China's economy grew faster than expected in the third quarter, official data on Wednesday showed, suggesting a recent flurry of policy measures is helping to bolster a tentative recovery.
China's official data also showed that the country's oil refinery throughput in September hit a record daily rate, up 12% from a year earlier as refiners increased run rates to cater for strong demand for transport fuel over the Golden Week holiday and improving manufacturing.
But analysts sounded cautious on China's economic growth as the real estate sector remains a drag.
"The September data likely guarantee that China will hit its 'around 5%' growth target this year. That said, it will struggle to better it. The economic recovery is still in its infancy," Moody's Analytics economist Harry Murphy Cruise said in a note.

Meanwhile, U.S. retail sales increased more than expected in September, spurring expectations of another interest rate hike by the Federal Reserve by year-end. Interest rate hikes to curb inflation can slow economic growth and reduce oil demand.
Venezuela's government and its political opposition on Tuesday agreed to electoral guarantees for 2024 presidential elections, paving the way for possible U.S. sanctions relief that could eventually boost oil supplies.

Oil jumps 2% as hospital blast increases Middle East tensions
By Arathy Somasekhar and Muyu Xu
October 18, 20232:16 PM

https://www.reuters.com/business/energy/oil-prices-jump-2-supply-worries-after-large-us-stock-drawdown-2023-10-18/

Oct 18 (Reuters) - Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region.
Brent crude futures advanced $1.75, or 2%, to $91.65 a barrel at 0609 GMT. West Texas Intermediate crude (WTI) futures were up $1.91, or 2.2%, at $88.57 a barrel.
In earlier trade, both benchmarks gained more than $2 to touch their highest levels in two weeks.

Markets factored in risk premiums after hundreds of Palestinians were killed in a blast at a Gaza City hospital on Tuesday that Israeli and Palestinian officials blamed on each other.
Jordan then cancelled a summit it was to host with U.S. President Joe Biden and Egyptian and Palestinian leaders.
"The cancellation of a summit between Biden and Arab leaders reduces the likelihood of a diplomatic solution to the Israel Hamas conflict," Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a client note.
Markets are nervous about a threatened Israeli ground offensive in Gaza.
"A long occupation looms as the scenario that pushes Brent oil futures above $US100/bbl because it raises the risk that the Israel Hamas conflict expands and potentially draws in Iran directly," Dhar said.
Biden is set to visit Israel on Wednesday to show support for the country in its war with Islamist militant group Hamas. The White House said he will make clear he does not want the conflict to expand.

Also supporting oil prices, U.S. crude stocks fell by about 4.4 million barrels in the week ended Oct. 13, according to market sources citing American Petroleum Institute figures on Tuesday. That was much steeper than a 300,000 barrel draw that analysts had forecast.
Official U.S. government data is due later on Wednesday.
On the demand side, China's economy grew faster than expected in the third quarter, official data on Wednesday showed, suggesting a recent flurry of policy measures is helping to bolster a tentative recovery.
China's official data also showed that the country's oil refinery throughput in September hit a record daily rate, up 12% from a year earlier as refiners increased run rates to cater for strong demand for transport fuel over the Golden Week holiday and improving manufacturing.
But analysts sounded cautious on China's economic growth as the real estate sector remains a drag.
"The September data likely guarantee that China will hit its 'around 5%' growth target this year. That said, it will struggle to better it. The economic recovery is still in its infancy," Moody's Analytics economist Harry Murphy Cruise said in a note.

Meanwhile, U.S. retail sales increased more than expected in September, spurring expectations of another interest rate hike by the Federal Reserve by year-end. Interest rate hikes to curb inflation can slow economic growth and reduce oil demand.
Venezuela's government and its political opposition on Tuesday agreed to electoral guarantees for 2024 presidential elections, paving the way for possible U.S. sanctions relief that could eventually boost oil supplies.

Oil jumps 2% as hospital blast increases Middle East tensions
By Arathy Somasekhar and Muyu Xu
October 18, 20232:16 PM

https://www.reuters.com/business/energy/oil-prices-jump-2-supply-worries-after-large-us-stock-drawdown-2023-10-18/

Oct 18 (Reuters) - Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region.
Brent crude futures advanced $1.75, or 2%, to $91.65 a barrel at 0609 GMT. West Texas Intermediate crude (WTI) futures were up $1.91, or 2.2%, at $88.57 a barrel.
In earlier trade, both benchmarks gained more than $2 to touch their highest levels in two weeks.

Markets factored in risk premiums after hundreds of Palestinians were killed in a blast at a Gaza City hospital on Tuesday that Israeli and Palestinian officials blamed on each other.
Jordan then cancelled a summit it was to host with U.S. President Joe Biden and Egyptian and Palestinian leaders.
"The cancellation of a summit between Biden and Arab leaders reduces the likelihood of a diplomatic solution to the Israel Hamas conflict," Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a client note.
Markets are nervous about a threatened Israeli ground offensive in Gaza.
"A long occupation looms as the scenario that pushes Brent oil futures above $US100/bbl because it raises the risk that the Israel Hamas conflict expands and potentially draws in Iran directly," Dhar said.
Biden is set to visit Israel on Wednesday to show support for the country in its war with Islamist militant group Hamas. The White House said he will make clear he does not want the conflict to expand.

Also supporting oil prices, U.S. crude stocks fell by about 4.4 million barrels in the week ended Oct. 13, according to market sources citing American Petroleum Institute figures on Tuesday. That was much steeper than a 300,000 barrel draw that analysts had forecast.
Official U.S. government data is due later on Wednesday.
On the demand side, China's economy grew faster than expected in the third quarter, official data on Wednesday showed, suggesting a recent flurry of policy measures is helping to bolster a tentative recovery.
China's official data also showed that the country's oil refinery throughput in September hit a record daily rate, up 12% from a year earlier as refiners increased run rates to cater for strong demand for transport fuel over the Golden Week holiday and improving manufacturing.
But analysts sounded cautious on China's economic growth as the real estate sector remains a drag.
"The September data likely guarantee that China will hit its 'around 5%' growth target this year. That said, it will struggle to better it. The economic recovery is still in its infancy," Moody's Analytics economist Harry Murphy Cruise said in a note.

Meanwhile, U.S. retail sales increased more than expected in September, spurring expectations of another interest rate hike by the Federal Reserve by year-end. Interest rate hikes to curb inflation can slow economic growth and reduce oil demand.
Venezuela's government and its political opposition on Tuesday agreed to electoral guarantees for 2024 presidential elections, paving the way for possible U.S. sanctions relief that could eventually boost oil supplies.

Oil jumps 2% as hospital blast increases Middle East tensions
By Arathy Somasekhar and Muyu Xu
October 18, 20232:16 PM

https://www.reuters.com/business/energy/oil-prices-jump-2-supply-worries-after-large-us-stock-drawdown-2023-10-18/

Oct 18 (Reuters) - Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region.
Brent crude futures advanced $1.75, or 2%, to $91.65 a barrel at 0609 GMT. West Texas Intermediate crude (WTI) futures were up $1.91, or 2.2%, at $88.57 a barrel.
In earlier trade, both benchmarks gained more than $2 to touch their highest levels in two weeks.

Markets factored in risk premiums after hundreds of Palestinians were killed in a blast at a Gaza City hospital on Tuesday that Israeli and Palestinian officials blamed on each other.
Jordan then cancelled a summit it was to host with U.S. President Joe Biden and Egyptian and Palestinian leaders.
"The cancellation of a summit between Biden and Arab leaders reduces the likelihood of a diplomatic solution to the Israel Hamas conflict," Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a client note.
Markets are nervous about a threatened Israeli ground offensive in Gaza.
"A long occupation looms as the scenario that pushes Brent oil futures above $US100/bbl because it raises the risk that the Israel Hamas conflict expands and potentially draws in Iran directly," Dhar said.
Biden is set to visit Israel on Wednesday to show support for the country in its war with Islamist militant group Hamas. The White House said he will make clear he does not want the conflict to expand.

Also supporting oil prices, U.S. crude stocks fell by about 4.4 million barrels in the week ended Oct. 13, according to market sources citing American Petroleum Institute figures on Tuesday. That was much steeper than a 300,000 barrel draw that analysts had forecast.
Official U.S. government data is due later on Wednesday.
On the demand side, China's economy grew faster than expected in the third quarter, official data on Wednesday showed, suggesting a recent flurry of policy measures is helping to bolster a tentative recovery.
China's official data also showed that the country's oil refinery throughput in September hit a record daily rate, up 12% from a year earlier as refiners increased run rates to cater for strong demand for transport fuel over the Golden Week holiday and improving manufacturing.
But analysts sounded cautious on China's economic growth as the real estate sector remains a drag.
"The September data likely guarantee that China will hit its 'around 5%' growth target this year. That said, it will struggle to better it. The economic recovery is still in its infancy," Moody's Analytics economist Harry Murphy Cruise said in a note.

Meanwhile, U.S. retail sales increased more than expected in September, spurring expectations of another interest rate hike by the Federal Reserve by year-end. Interest rate hikes to curb inflation can slow economic growth and reduce oil demand.
Venezuela's government and its political opposition on Tuesday agreed to electoral guarantees for 2024 presidential elections, paving the way for possible U.S. sanctions relief that could eventually boost oil supplies.

Oil jumps 2% as hospital blast increases Middle East tensions
By Arathy Somasekhar and Muyu Xu
October 18, 20232:16 PM

https://www.reuters.com/business/energy/oil-prices-jump-2-supply-worries-after-large-us-stock-drawdown-2023-10-18/

Oct 18 (Reuters) - Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region.
Brent crude futures advanced $1.75, or 2%, to $91.65 a barrel at 0609 GMT. West Texas Intermediate crude (WTI) futures were up $1.91, or 2.2%, at $88.57 a barrel.
In earlier trade, both benchmarks gained more than $2 to touch their highest levels in two weeks.

Markets factored in risk premiums after hundreds of Palestinians were killed in a blast at a Gaza City hospital on Tuesday that Israeli and Palestinian officials blamed on each other.
Jordan then cancelled a summit it was to host with U.S. President Joe Biden and Egyptian and Palestinian leaders.
"The cancellation of a summit between Biden and Arab leaders reduces the likelihood of a diplomatic solution to the Israel Hamas conflict," Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a client note.
Markets are nervous about a threatened Israeli ground offensive in Gaza.
"A long occupation looms as the scenario that pushes Brent oil futures above $US100/bbl because it raises the risk that the Israel Hamas conflict expands and potentially draws in Iran directly," Dhar said.
Biden is set to visit Israel on Wednesday to show support for the country in its war with Islamist militant group Hamas. The White House said he will make clear he does not want the conflict to expand.

Also supporting oil prices, U.S. crude stocks fell by about 4.4 million barrels in the week ended Oct. 13, according to market sources citing American Petroleum Institute figures on Tuesday. That was much steeper than a 300,000 barrel draw that analysts had forecast.
Official U.S. government data is due later on Wednesday.
On the demand side, China's economy grew faster than expected in the third quarter, official data on Wednesday showed, suggesting a recent flurry of policy measures is helping to bolster a tentative recovery.
China's official data also showed that the country's oil refinery throughput in September hit a record daily rate, up 12% from a year earlier as refiners increased run rates to cater for strong demand for transport fuel over the Golden Week holiday and improving manufacturing.
But analysts sounded cautious on China's economic growth as the real estate sector remains a drag.
"The September data likely guarantee that China will hit its 'around 5%' growth target this year. That said, it will struggle to better it. The economic recovery is still in its infancy," Moody's Analytics economist Harry Murphy Cruise said in a note.

Meanwhile, U.S. retail sales increased more than expected in September, spurring expectations of another interest rate hike by the Federal Reserve by year-end. Interest rate hikes to curb inflation can slow economic growth and reduce oil demand.
Venezuela's government and its political opposition on Tuesday agreed to electoral guarantees for 2024 presidential elections, paving the way for possible U.S. sanctions relief that could eventually boost oil supplies.

Sailang all my belongings till underwear to buy in Lionind at @0.345

Sailang all my belongings till underwear to buy in IWCity at @0.625

Top up more Ekovest at @0.48

Sailang all my belongings till underwear to buy in KNM at @0.10

Sailang all my belongings till underwear to buy in Mkland at @0.24

Sailang all my belongings till underwear to buy in Ekovest at @0.49

TillyLovers, today lowest is 49 cents, how can u get it at 38 cents, maybe in year 2030 lah...

Tommorrow probably will dropped below 10 cents…
Closed around 8 to 9 cents…

If TY team won will be nightmare for KNM’s future, it’s price might plunged till 0.005 cent and delisted…

Anyone who attend the EGM?
What is the outcome of the vote ?
TY team win or German team win ?

Oil surges nearly 6% after Israel begins ground raids into Gaza
By Stephanie Kelly
October 14, 20233:46 AM GMT+8

https://www.reuters.com/markets/commodities/oil-climbs-us-sanctions-stockpile-forecasts-raise-supply-concerns-2023-10-13/

NEW YORK, Oct 13 (Reuters) - Oil prices leapt nearly 6% on Friday, with Brent posting its highest weekly gain since February, as investors priced in the possibility that the conflict in the Middle East could widen as Israel began ground raids inside the Gaza Strip.
Israel's announcement marked a shift from an air war to ground operations to root out Hamas fighters a week after the militant Palestinian group's deadly rampage in southern Israel.

Brent futures settled up $4.89, or 5.7%, at $90.89 per barrel. U.S. West Texas Intermediate (WTI) crude gained $4.78, or 5.8%, to $87.69 a barrel.
Both benchmarks posted their highest daily percentage gains since April.
Brent also recorded a weekly gain of 7.5%, its biggest such increase since February. WTI climbed 5.9% for the week.
The conflict in the Middle East has had little impact on global oil and gas supplies, and Israel is not a big producer. Investors and market observers, however, are assessing how it could escalate and what it might mean for supplies from nearby countries in the world's top oil producing region.

Some residents in Gaza were abandoning their homes on Friday to escape from the path of an Israeli onslaught, after Israel ordered more than a million people to leave the northern half of the territory within 24 hours. Hamas told them not to go.
Iran's Oil Minister Javad Owji said on Friday oil prices are expected to reach $100 per barrel due to the current situation in the Middle East, according to the ministry's news agency SHANA…

Oil surges nearly 6% after Israel begins ground raids into Gaza
By Stephanie Kelly
October 14, 20233:46 AM GMT+8

https://www.reuters.com/markets/commodities/oil-climbs-us-sanctions-stockpile-forecasts-raise-supply-concerns-2023-10-13/

NEW YORK, Oct 13 (Reuters) - Oil prices leapt nearly 6% on Friday, with Brent posting its highest weekly gain since February, as investors priced in the possibility that the conflict in the Middle East could widen as Israel began ground raids inside the Gaza Strip.
Israel's announcement marked a shift from an air war to ground operations to root out Hamas fighters a week after the militant Palestinian group's deadly rampage in southern Israel.

Brent futures settled up $4.89, or 5.7%, at $90.89 per barrel. U.S. West Texas Intermediate (WTI) crude gained $4.78, or 5.8%, to $87.69 a barrel.
Both benchmarks posted their highest daily percentage gains since April.
Brent also recorded a weekly gain of 7.5%, its biggest such increase since February. WTI climbed 5.9% for the week.
The conflict in the Middle East has had little impact on global oil and gas supplies, and Israel is not a big producer. Investors and market observers, however, are assessing how it could escalate and what it might mean for supplies from nearby countries in the world's top oil producing region.

Some residents in Gaza were abandoning their homes on Friday to escape from the path of an Israeli onslaught, after Israel ordered more than a million people to leave the northern half of the territory within 24 hours. Hamas told them not to go.
Iran's Oil Minister Javad Owji said on Friday oil prices are expected to reach $100 per barrel due to the current situation in the Middle East, according to the ministry's news agency SHANA…

Oil surges nearly 6% after Israel begins ground raids into Gaza
By Stephanie Kelly
October 14, 20233:46 AM GMT+8

https://www.reuters.com/markets/commodities/oil-climbs-us-sanctions-stockpile-forecasts-raise-supply-concerns-2023-10-13/

NEW YORK, Oct 13 (Reuters) - Oil prices leapt nearly 6% on Friday, with Brent posting its highest weekly gain since February, as investors priced in the possibility that the conflict in the Middle East could widen as Israel began ground raids inside the Gaza Strip.
Israel's announcement marked a shift from an air war to ground operations to root out Hamas fighters a week after the militant Palestinian group's deadly rampage in southern Israel.

Brent futures settled up $4.89, or 5.7%, at $90.89 per barrel. U.S. West Texas Intermediate (WTI) crude gained $4.78, or 5.8%, to $87.69 a barrel.
Both benchmarks posted their highest daily percentage gains since April.
Brent also recorded a weekly gain of 7.5%, its biggest such increase since February. WTI climbed 5.9% for the week.
The conflict in the Middle East has had little impact on global oil and gas supplies, and Israel is not a big producer. Investors and market observers, however, are assessing how it could escalate and what it might mean for supplies from nearby countries in the world's top oil producing region.

Some residents in Gaza were abandoning their homes on Friday to escape from the path of an Israeli onslaught, after Israel ordered more than a million people to leave the northern half of the territory within 24 hours. Hamas told them not to go.
Iran's Oil Minister Javad Owji said on Friday oil prices are expected to reach $100 per barrel due to the current situation in the Middle East, according to the ministry's news agency SHANA…

Oil surges nearly 6% after Israel begins ground raids into Gaza
By Stephanie Kelly
October 14, 20233:46 AM GMT+8

https://www.reuters.com/markets/commodities/oil-climbs-us-sanctions-stockpile-forecasts-raise-supply-concerns-2023-10-13/

NEW YORK, Oct 13 (Reuters) - Oil prices leapt nearly 6% on Friday, with Brent posting its highest weekly gain since February, as investors priced in the possibility that the conflict in the Middle East could widen as Israel began ground raids inside the Gaza Strip.
Israel's announcement marked a shift from an air war to ground operations to root out Hamas fighters a week after the militant Palestinian group's deadly rampage in southern Israel.

Brent futures settled up $4.89, or 5.7%, at $90.89 per barrel. U.S. West Texas Intermediate (WTI) crude gained $4.78, or 5.8%, to $87.69 a barrel.
Both benchmarks posted their highest daily percentage gains since April.
Brent also recorded a weekly gain of 7.5%, its biggest such increase since February. WTI climbed 5.9% for the week.
The conflict in the Middle East has had little impact on global oil and gas supplies, and Israel is not a big producer. Investors and market observers, however, are assessing how it could escalate and what it might mean for supplies from nearby countries in the world's top oil producing region.

Some residents in Gaza were abandoning their homes on Friday to escape from the path of an Israeli onslaught, after Israel ordered more than a million people to leave the northern half of the territory within 24 hours. Hamas told them not to go.
Iran's Oil Minister Javad Owji said on Friday oil prices are expected to reach $100 per barrel due to the current situation in the Middle East, according to the ministry's news agency SHANA…

Oil surges nearly 6% after Israel begins ground raids into Gaza
By Stephanie Kelly
October 14, 20233:46 AM GMT+8

https://www.reuters.com/markets/commodities/oil-climbs-us-sanctions-stockpile-forecasts-raise-supply-concerns-2023-10-13/

NEW YORK, Oct 13 (Reuters) - Oil prices leapt nearly 6% on Friday, with Brent posting its highest weekly gain since February, as investors priced in the possibility that the conflict in the Middle East could widen as Israel began ground raids inside the Gaza Strip.
Israel's announcement marked a shift from an air war to ground operations to root out Hamas fighters a week after the militant Palestinian group's deadly rampage in southern Israel.

Brent futures settled up $4.89, or 5.7%, at $90.89 per barrel. U.S. West Texas Intermediate (WTI) crude gained $4.78, or 5.8%, to $87.69 a barrel.
Both benchmarks posted their highest daily percentage gains since April.
Brent also recorded a weekly gain of 7.5%, its biggest such increase since February. WTI climbed 5.9% for the week.
The conflict in the Middle East has had little impact on global oil and gas supplies, and Israel is not a big producer. Investors and market observers, however, are assessing how it could escalate and what it might mean for supplies from nearby countries in the world's top oil producing region.

Some residents in Gaza were abandoning their homes on Friday to escape from the path of an Israeli onslaught, after Israel ordered more than a million people to leave the northern half of the territory within 24 hours. Hamas told them not to go.
Iran's Oil Minister Javad Owji said on Friday oil prices are expected to reach $100 per barrel due to the current situation in the Middle East, according to the ministry's news agency SHANA…

Oil price spike up crazily !
Brent $90.89 +4.89 +5.69 %

Oil price spike up crazily !
Brent $90.89 +4.89 +5.69 %

Oil price spike up crazily !
Brent $90.89 +4.89 +5.69 %

Oil price spike up crazily !
Brent $90.89 +4.89 +5.69 %

Oil price spike up crazily !
Brent $90.89 +4.89 +5.69 %

Heeschen ups stake in KNM ahead of key EGM to oust current chairman and directors
By Justin Lim / theedgemalaysia.com
12 Oct 2023, 12:02 am

https://theedgemalaysia.com/node/685794#:~:text=Heeschen%20ups%20stake%20in%20KNM,oust%20current%20chairman%20and%20directors&text=KUALA%20LUMPUR%20(Oct%2011)%3A,stake%20in%20the%20open%20market.

KUALA LUMPUR (Oct 11): Germany billionaire Andreas Heeschen has upped his stake in KNM Group Bhd to 8.249% following the acquisition of a further 13.6 million shares or a 0.336% stake in the open market.
Interestingly, Heeschen’s purchase of the shares occurred a few days before the group's extraordinary general meeting (EGM), which is scheduled for Oct 16.
In a bourse filing on Wednesday, KNM said Heeschen bought the block of shares in two tranches, of which 3.6 million shares were bought at 14 sen per share on Oct 9 and the remaining 10 million shares were bought the following day at 11.99 sen per share.

Cumulatively, the blocks of shares would have cost him RM1.7 million.
To recap, on Aug 29 Heeschen, who is majority shareholder of German-based firearms manufacturer Heckler & Koch, emerged as KNM’s substantial shareholder with a 7.91% stake, or 320 million shares.
Out of the 320 million shares, about 200 million were via a transfer of title and interest to him under “the terms of governing agreement”. KNM’s share price closed at nine sen on Aug 29.
Subsequently, Heeschen, 63, with the support of eight other KNM shareholders, applied to hold an EGM to replace the directors. The shareholders are Azmi Osman, Tai Tean Seng, Kok Seng Ping, Jacqueline Lee Fei Fei, Chang Hui Kee, Sazini Abdullah, AZM Trading Venture Sdn Bhd and Gan SMT Sdn Bhd.
Heeschen, who together with the parties acting in concert held a 10.69% stake back then, attempted to oust the entire board of nine directors, including the company’s largest shareholder and chairman Tunku Datuk Yaacob Khyra, who holds a 9.5% indirect stake or 384.2 million shares held via Melewar Industrial Group Bhd.
Besides Yaacob, the group has proposed to remove the rest of KNM’s board — namely directors Tan Sri Zulhasnan Rafique, Ravindrasingham Balasingham, Yee Hong Ho, Steve Ho Soo Woon, Thulasy Suppiah, Datuk Uwe Ahrens, James Beltran and Datuk Naresh Mohan.
Meanwhile, seven new directors have been proposed comprising Heeschen; Johor princess Tunku Kamariah Aminah Maimunah lskandariah Sultan Iskandar; Flavio Porro, a former executive director of KNM, who exited the company last December, as well as former chairman of Magna Prima Bhd and Komakcorp Bhd, Datuk Abd Ghani Yusof; Edwin Silvester Das, who currently serves as Jiankun International Bhd CEO; Datuk Zaidi Mat Isa @ Hashim, executive director of SMTrack Bhd; and William H Van Vliet II, executive director of CN Asia Corp Bhd.
KNM owns renowned German-based machinery and equipment manufacturer Borsig GmbH, but is facing liquidity issues as it was unable to sell the asset to pare its debt.
Burdened by its debt obligations and tight cash flow, KNM had previously planned to part with Borsig for €220.8 million.
The deal failed to materialise, which led to KNM defaulting on three credit facilities totalling about RM416.8 million and subsequently triggering the Practice Note 17 (PN17) status.
It is worth noting that the Borsig deal fell through despite the longstop date for the share sale and purchase agreement for the disposal being extended various times.
Three weeks after the RM416.8 million default, the company announced it had defaulted on the principal payment of US$3.4 million with an outstanding interest of US$16,104, due to Bank of China (Malaysia) Bhd.
The group noted that the repayments would be dealt with or restructured under its proposed scheme of arrangement.
Since then, KNM has continued its dialogue with creditors and stressed its plan to accelerate the monetisation of non-core assets as well as Borsig.
As of end-June this year, KNM’s borrowings stood at RM1.18 billion, down from RM1.26 billion a year earlier. The group had been loss making for eight consecutive quarters. Negative reserves stood at RM1.21 billion, up from RM1.16 billion the year before.
On Wednesday, the share price of KNM closed down one sen or 8.33% at 11 sen, bringing the group a market capitalisation of RM445 million.
The counter has more than doubled this year from five sen per share, following a gradual increase first seen in June.

Hurrey, super damn hot man ICON today ! 

Now ICON already at
0.13 (+0.015 ) (+13 %)

birkincollector, german won’t giving up one,
he still own 7.91 % stake in KNM
Alex Chua, German group bought cheap cheap less than 10 cents then launch takeover, but he won’t sell any of his share one coz he is the one who organise the EGM to remove the existing not perform directors, if he already sold all his share, who is going to chair this coming EGM and he also know he will be guilty and against the Malaysia security law if he do so !

So, i think is the party of the existing board of directors who are knowing they already losing and will be removed from the board in this coming EGM so that they sold all their shares !

German billionaire-led group of shareholders seeks to remove KNM directors
By Izzul Ikram / theedgemalaysia.com
05 Sep 2023, 07:04 pm

https://theedgemalaysia.com/node/681385

KUALA LUMPUR (Sept 5): A group of shareholders of KNM Group Bhd, led by new substantial shareholder German billionaire Andreas Heeschen, has initiated a hostile takeover in the loss-making and cash-strapped engineering group.
Heeschen, who emerged as a shareholder of the Practice Note 17 (PN17) outfit with a 7.91% stake or 320 million shares last week, together with seven other shareholders have sought the removal of all nine directors in the company.
KNM chairman Tunku Datuk Yaacob Khyra is also a substantial shareholder in the company, with a 9.44% indirect stake or 347.2 million shares held via Melewar Industrial Group Bhd….

Oil Jumps as Hamas’ Attack on Israel Fans Middle East Tensions
By Serene Cheong and Elizabeth Low October 9, 2023 at 6:05 AM

https://www.bloomberg.com/news/articles/2023-10-08/oil-rallies-by-more-than-3-after-hamas-attacks-against-israel

Oil surged 5% after Hamas’ surprise attacks on Israel over the weekend, the broadest and bloodiest in decades, threatened to inflame tensions in the Middle East.
West Texas Intermediate traded near $87 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
The latest events in Israel don’t pose an immediate threat to oil supply, but there’s a risk the conflict could spiral into a more devastating proxy war, embroiling the US and Iran. Any retaliation against Tehran amid reports it was involved in the attacks could endanger the passage of vessels through the Strait of Hormuz, a vital conduit that Iran has previously threatened to close...

Oil Jumps as Hamas’ Attack on Israel Fans Middle East Tensions
By Serene Cheong and Elizabeth Low October 9, 2023 at 6:05 AM

https://www.bloomberg.com/news/articles/2023-10-08/oil-rallies-by-more-than-3-after-hamas-attacks-against-israel

Oil surged 5% after Hamas’ surprise attacks on Israel over the weekend, the broadest and bloodiest in decades, threatened to inflame tensions in the Middle East.
West Texas Intermediate traded near $87 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
The latest events in Israel don’t pose an immediate threat to oil supply, but there’s a risk the conflict could spiral into a more devastating proxy war, embroiling the US and Iran. Any retaliation against Tehran amid reports it was involved in the attacks could endanger the passage of vessels through the Strait of Hormuz, a vital conduit that Iran has previously threatened to close...

Oil Jumps as Hamas’ Attack on Israel Fans Middle East Tensions
By Serene Cheong and Elizabeth Low October 9, 2023 at 6:05 AM

https://www.bloomberg.com/news/articles/2023-10-08/oil-rallies-by-more-than-3-after-hamas-attacks-against-israel

Oil surged 5% after Hamas’ surprise attacks on Israel over the weekend, the broadest and bloodiest in decades, threatened to inflame tensions in the Middle East.
West Texas Intermediate traded near $87 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
The latest events in Israel don’t pose an immediate threat to oil supply, but there’s a risk the conflict could spiral into a more devastating proxy war, embroiling the US and Iran. Any retaliation against Tehran amid reports it was involved in the attacks could endanger the passage of vessels through the Strait of Hormuz, a vital conduit that Iran has previously threatened to close...

Oil Jumps as Hamas’ Attack on Israel Fans Middle East Tensions
By Serene Cheong and Elizabeth Low October 9, 2023 at 6:05 AM

https://www.bloomberg.com/news/articles/2023-10-08/oil-rallies-by-more-than-3-after-hamas-attacks-against-israel

Oil surged 5% after Hamas’ surprise attacks on Israel over the weekend, the broadest and bloodiest in decades, threatened to inflame tensions in the Middle East.
West Texas Intermediate traded near $87 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
The latest events in Israel don’t pose an immediate threat to oil supply, but there’s a risk the conflict could spiral into a more devastating proxy war, embroiling the US and Iran. Any retaliation against Tehran amid reports it was involved in the attacks could endanger the passage of vessels through the Strait of Hormuz, a vital conduit that Iran has previously threatened to close...

Oil Jumps as Hamas’ Attack on Israel Fans Middle East Tensions
By Serene Cheong and Elizabeth Low October 9, 2023 at 6:05 AM

https://www.bloomberg.com/news/articles/2023-10-08/oil-rallies-by-more-than-3-after-hamas-attacks-against-israel

Oil surged 5% after Hamas’ surprise attacks on Israel over the weekend, the broadest and bloodiest in decades, threatened to inflame tensions in the Middle East.
West Texas Intermediate traded near $87 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
The latest events in Israel don’t pose an immediate threat to oil supply, but there’s a risk the conflict could spiral into a more devastating proxy war, embroiling the US and Iran. Any retaliation against Tehran amid reports it was involved in the attacks could endanger the passage of vessels through the Strait of Hormuz, a vital conduit that Iran has previously threatened to close...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Bravo, Now KNM already at 0.18 (+0.015) (+9.1 %)

Hurrey, super damn hot man KNM today !
Now KNM already at 0.175 (+0.01) (+6.1 %)

Bravo, Now KNM already at
0.17 (+0.02) (+13.3 %)

Both sides + retailers keep on top up more KNM shares till EGM to fight for who are the biggest share holding to take control of the company !

Probably it’s share price will spike up till above 80 cents before the EGM meeting !

KNM’s EGM Meeting is on
16-10-2023(Monday),
one week plus from now !