KNM Group Bhd said the Asian Development Bank’s trust fund, Credit Guarantee and Investment Facility (CGIF), has made repayment on behalf of the group to its bondholders in Thailand. KNM said it has received a reimbursement demand notice from CGIF via email on Wednesday, after the latter made the repayment to the bondholders. KNM said it “will enter into bilateral negotiations with CGIF in order to satisfy the reimbursement demand in a timely manner.”
The new management must investigate where the money of Thai Bonds RM352mils go.. the bond is for IEL expansion project.. but somehow the project is delayed and cancelled.. where the money go?
@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.
@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?
Meanwhile, a longer-term timeline of six to 12 months has been set for the proposed initial public offering of Borsig Group — its largest income contributor — “at a suitable stock exchange”.
• *KNM Group Bhd* has proposed a slew of corporate exercises to improve its financial position, including disposing of its Thai and UK plants and listing Germany-based Borsig Group. This comes as the group is seeking to resolve its recent default on its 2.78 billion baht (RM346.76 million) Thai bonds, and “unlock the sum-of-the-parts value of KNM Group for its shareholders”.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Godofgambler
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Posted by Godofgambler > 2021-12-17 08:38 | Report Abuse
KNM Group Bhd said the Asian Development Bank’s trust fund, Credit Guarantee and Investment Facility (CGIF), has made repayment on behalf of the group to its bondholders in Thailand. KNM said it has received a reimbursement demand notice from CGIF via email on Wednesday, after the latter made the repayment to the bondholders. KNM said it “will enter into bilateral negotiations with CGIF in order to satisfy the reimbursement demand in a timely manner.”