Still unable to break 1.10 ....poor hibiscus

moved like a turtle .... Oil already USD90++ yet traded below RM1.20...

Rubbish counter

KUALA LUMPUR: Practice Note 17 company KNM Group Bhd's chief executive officer and managing director Ravindrasingham Balasingham today (September 8) made a public appeal to shareholders of the company to back the current set of board directors and management amid an attempt by a group of shareholders, including German billionaire Andreas Heeschen, to replace the entire board with a new one.

Heeschen and eight other shareholders who own more than 10 per cent of KNM Group on September 5, 2023, asked for an extraordinary general meeting (EGM) to be convened to remove the entire board, which includes MAA Group Bhd's executive chairman Tunku Yaacob Khyra, and appoint seven new directors to the board of the company.

Among notable names to be appointed on to the new board include Jiankun International Bhd CEO Edwin Silvester Das, former chairman of Magna Prima Bhd Datuk Abd Ghani Yusof and CN Asia Corp Bhd executive director William H Van Vliet II.

The notice for EGM must be sent within 14 days of the requisition notice and held not more than 28 days from the day the notice of EGM is sent.

Ravindrasingham's principal argument against the change is that the move to replace the current board and management, which has earned the confidence of a majority of the creditors, could derail the company's plans to secure an extension to its restraining order in place to stop creditors from calling on its loans.

The company is up for an-interim restraining order court hearing on September 20, 2023.

"The potential plan to replace the current board of directors and management of KNM Group, could impact the court's decision solely because this creates doubt on the current draft scheme of arrangement and as previously occurred, lead to another postponement of decision on this restraining order by the court, until after the requisitioned EGM," Ravindrasingham said.

He said the current board of directors and management feel that with the support of majority of the RM1.167 billion external creditors, there is a shared vision of KNM Group to pare down the debt in an orderly monetization exercise whilst simultaneously achieving a restructured KNM Group with a sustainably profitable future for the shareholders is achievable.

For the twelve months ended June 30, 2023, KNM Group posted a net loss of RM157.06 million on RM1.07 billion revenue.

The group has two months to submit its regularisation plan under the PN17 of the Main Market Listing requirements to the relevant authorities for approval.

It is considering selling, or listing on a stock exchange, its prized asset, Borsig GmbH, after a deal to sell its stake for Euro 220.8 million (RM1.03 billion) to Vorsprung Industries GmbH fell through last November due to financing issues.

"More immediately, under the professional leadership of Tunku Yaacob as its chairman, the current management have been instructed to do its utmost to defend and uphold the best interest of all stakeholders even if it warrants that the matter be taken to court. Given the issues highlighted, we are in discussion with our lawyers, advisors, and forensic specialists on the appropriate course of action," Ravindrasingham added in a statement released to media today.

yes... volume increased / highest in three months.. i think wil be continued downtrend

Property counters blood washing today

KYY set a trap for all of us.... DAMN

Still better than KPPROP...

What a rubbish counter... RM0.80 also can't sustain

LOL....how come there is unsound minded here.. scary

so where is the red bath ??? Don't creating panic selling...

Dow slumps 600 pts... How low Harta can go ??

yes... looks like no support at all. pre open RM0.555 q sell over 100+ lots

AYS no support at all now sinking all the way to RM0.555... despite steel price 4,800

Pullback below RM1.00 ...RM0.98 now.. really a TRAP

huge volume done RM1.01... not sure will going up or sharks doing distribution to small anchovies like us

This counter still sleeping....zzzzzzz

Careplus price higher than Comfort now ... sighs

All glove counters going up except this Comfort , What happened ?? factory flooded ??

Keep doing low.... 0.47 breaking soon

AnnJoo price in three months low....time to accumulate

Steel price going up but AYS & HiapTiek performed better than AnnJoo

Keeps breaking the new low....

Index up/ market does not mean VS will up

So if yr statement is right then the price will forever RM0.55....LOL

Powerless.... turning red... hard to surge above RM1.30

No sign of rebound, volume also thin despite market up

No volume... market so good price also stagnant

I hate holding a counter which calling for Private Placement. For sure the price will go down,,,

Very slow this counter......

looks like well distributed above RM0.62 level and down under RM0.60...

Trap ??Trap ???

Mayday ,Mayday... RM0.70 broken

One day show this counter from RM1.54 to RM1.70, now RM1.70 to 1.58......

How high AYS will go ?

OTB here is real Ooi Teik Bee ??

RM0.725 0.73.... getting lower and no support at all

Volume still thin... unable to stand firm above 0.80

Sold all 0.73...

@iPlay what make u think today AYS will take a breath ?

skyz so what you mean the price will stagnant at this level forever ??

directors disposed leh

making billion company From RM9.00 to RM3.90... really donno how 2 value this counter...

Is a fact... yes.. i made the wrong decision

Others up Comfort did not follow others down it drop further... rubbish counter

Donoo can hold 2.20 level... this counter up less than other glove counters but always drop more compared to the rest

Just wonder why Bursa never take action to catch those syndicates... Volume is so huge easy to trace all the sellers/ dumpers

Now, i just wanna see how low it can go......

This is conman's counter.. worth nothing at all.... I already said cut loss or never yesterday.. some still believe that it will bounce back...

Yes.. very chun RM0.395 now