Posted by SGX6138 > 2023-09-09 15:36 | Report Abuse

KNM started off as a beautiful business. Now it's kinda mid-life crisis but the business is still beautiful with high technology and renewable energy projects. With a new board at the helm for a year things are looking very bright. So bright that it attracted the attention of German tycoon. Otherwise who would want a PN17 company?

Posted by gemtech8888 > 2023-09-09 17:21 | Report Abuse

The taker well prepared

Posted by gemtech8888 > 2023-09-09 17:22 | Report Abuse

It's a love n business rivalry movies.

Posted by gemtech8888 > 2023-09-09 17:24 | Report Abuse

The company was overtaken but the couple ends well

Posted by gemtech8888 > 2023-09-09 17:25 | Report Abuse

The story tells in business world the strongest stand.

Posted by gemtech8888 > 2023-09-09 17:57 | Report Abuse

Also the greed of human nature

Posted by gemtech8888 > 2023-09-09 18:00 | Report Abuse

Knm story actually very easy, everyone knows borsig got values n upon selling off borsig they get billions. That's the moral of the story.

Posted by gemtech8888 > 2023-09-09 18:03 | Report Abuse

It's like u bought a land in islander johor n wait for 10 over years n u knew that land can double treble or 5 or 10 times more given times.

Posted by gemtech8888 > 2023-09-09 18:05 | Report Abuse

Also land in Selangor or penang

Posted by gemtech8888 > 2023-09-09 18:07 | Report Abuse

Someone must have some interest in it so they prepared long enough to stage this.

Posted by gemtech8888 > 2023-09-09 18:09 | Report Abuse

The time is ripe for action

Posted by gemtech8888 > 2023-09-09 18:10 | Report Abuse

Wise n patience ppls always win

Posted by doubleup > 2023-09-09 20:53 | Report Abuse

Borsig is a gem. Everybody knows that. That's why the management make sure their sales and operations continue to develop. Besides that, they ensure that it remains an asset under KNM and that nobody can sell off Borsig. Disposing Borsig would mean taking off its prized asset. Therefore, as KNM investors we must make sure the current management continue to be in charge. Bcos we don't know whether a new management might sell it off and leave KNM without its most important asset. Our long term interest may suffer.

Posted by Leoleo > 2023-09-09 22:27 | Report Abuse

the ethanol biz venture to Thailand is questionable. someone get the 350m RM loan. now unable to pay it.
why they spend 350m in thailand, now the ethanol biz can earn how much for knm ?

Posted by Leoleo > 2023-09-09 22:28 | Report Abuse

that time the mr Lee is incharge

Posted by vespa > 2023-09-10 02:45 | Report Abuse

TY is untrustworthy ...anything he touches turns to mud

Posted by vespa > 2023-09-10 02:46 | Report Abuse

These clowns treat listed companies
as ATMs

Posted by Vhydro > 2023-09-10 05:32 | Report Abuse

Look like full of keyboard warriors here

Posted by speakup > 2023-09-10 09:55 | Report Abuse

Spammers, keyboard warrior sama je

Posted by zzzzz > 2023-09-10 21:42 | Report Abuse

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.

Posted by doubleup > 2023-09-11 00:32 | Report Abuse

Yes, it is in the interest of all shareholders including the hostile ones, to let the current management pare down its debts in an orderly manner, via sale of assets and resuming profitable operations like Borsig. Any potential actions to derail this course will result in the two main creditors taking action to protect their interests and this will bring down the whole KNM business and result in great losses for all shareholders. I am in this counter for the long haul bcos it's a darling amongst PN17, a real gem with great long-term potential.

Posted by Vhydro > 2023-09-11 09:14 | Report Abuse

Who kept throwing?

Posted by CyrusQ > 2023-09-11 09:56 | Report Abuse

https://www.thestar.com.my/business/business-news/2023/09/11/trading-ideas-knm-group-pan-malaysia-corp-tt-vision-and-ecm-libra

Posted by maxwin69 > 2023-09-11 10:33 | Report Abuse

KNM selling off FBM Hudson will improve their cash flow. This is a good move by the management whichever way we look at it. The business is too competitive and FBM is making losses, unlike Borsig. BTW whatever FBM can do Borsig also can do.

Posted by CyrusQ > 2023-09-11 12:06 | Report Abuse

Any news ?

Posted by Shines > 2023-09-11 13:06 | Report Abuse

Taking loo long to get out of PN17, only when got outside interest then only say this and that, can the current board be trusted

Posted by Vhydro > 2023-09-11 13:10 | Report Abuse

Maybe the disposal of fbm Hudson will fail and cancel too...

Posted by Dawneagle > 2023-09-11 14:04 | Report Abuse

I will support the German group. It's been so long and the current group is so secretive, no update and so action. Now German come in and the CEO is begging for support.

What's the story with the whistleblower?

Who is the broker who is handling the FBM SALE. How much current team going to pocket from the broker. Broker take 1% and BOD get 1%?? Just asking. Remember tony's case on the Boeing sale.

Just my thought. All crooks

Posted by Orson Chin > 2023-09-11 14:05 | Report Abuse

Later government pump money inside ….. government become the big boss…. Haha

Posted by small_investor > 2023-09-11 14:22 | Report Abuse

this morning who whacks 120 million share at 0.12

Posted by CyrusQ > 2023-09-11 14:52 | Report Abuse

game over ?

Posted by OtisKL > 2023-09-11 14:54 | Report Abuse

The announcement of firming up FBM disposal is a strategic, timely, and calculated risk to mitigate loss-making units from further drowning KNM Group. Soon after this, creditors can be serviced, Borsig can continue to perform, and the current management relook at Thailand's ethanol unit and cut its losses by finding a buyer or financial restructuring to improve cash flow and reduce interest expenses, or even bring in technology/equipment related investors into the company to improve production efficiency, reduce waste, or increase capacity. Thailand's government does provide grants for such technology inflow efforts into the country. The ethanol business is still a good business. Efficient logistics and inventory management can improve cash flow, by optimizing the supply chain to minimize time and reduce inventory carrying costs. Environmental compliance is vital as ethanol does have environmental impacts, so ensuring the factory complies with environmental regulations, and adhering to sustainability practices may open up new markets or partnerships. Most importantly, a quality improvement that meets industry standards and customers' requirements, as high-quality ethanol commands premium prices and may attract more customers. The management should get international bodies to endorse its ethanol products once the back of the house is cleaned up to satisfactory levels.
The German group's appearance is a signal to the current management to continue to be on their toes, revive the business, improve cash flow, cut losses, put several measures for good and transparent governance, as well as bring in a couple of O&G experts into the management and corporate strategists into BOD.

Posted by CyrusQ > 2023-09-11 15:07 | Report Abuse

Woodswater

yes game over

“ Borsig ” will b sell 🔜

" T " remained in the board

@ What is T ?

Posted by vespa > 2023-09-11 15:12 | Report Abuse

As before don't be fooled by Melewar governance , nothing ever works with them

Posted by vespa > 2023-09-11 15:13 | Report Abuse

Perennial losers

Posted by Vhydro > 2023-09-11 15:17 | Report Abuse

Gone case

Posted by LuckyHuatHuat > 2023-09-11 15:19 | Report Abuse

There is udang sebalik mee. With all the big people involved now, something very big is coming. At this current price, it is considered a big discount for them. Grab first and see later. Who will know if next few months TP is RM 1.

Posted by CyrusQ > 2023-09-11 15:20 | Report Abuse

LuckyHuatHuat

There is udang sebalik mee. With all the big people involved now, something very big is coming. At this current price, it is considered a big discount for them. Grab first and see later. Who will know if next few months TP is RM 1.

# Status still PN17

Posted by BILLC > 2023-09-11 15:26 | Report Abuse

History has shown when all big people involved,,,,it’s inevitable for suiyee biliss suckers all kena telan hidup2,,,,

Posted by SHOB > 2023-09-11 15:36 | Report Abuse

good luck

Posted by CyrusQ > 2023-09-11 15:50 | Report Abuse

Buy / Sell ?

Posted by CyrusQ > 2023-09-11 16:01 | Report Abuse

No more sales ?

Posted by mrupai > 2023-09-11 16:02 | Report Abuse

knm = huge stage show

Posted by LuckyHuatHuat > 2023-09-11 16:13 | Report Abuse

This is a country where anything can happen with or without a reason. Dried salted fish also can come back to life.

Posted by DickyMe > 2023-09-11 16:16 | Report Abuse

Yes!. Such situation only exist in casino and gambling den.
In a blink of an eye, either you are a richer or pauper.

Posted by CyrusQ > 2023-09-11 16:26 | Report Abuse

Woodswater

@ Cyrus

Tunku

# Oh okay lool , I thought Terminator

Posted by supersaiyan3 > 2023-09-11 16:50 | Report Abuse

Jangan meremehkan kebijaksaan bilis. Lol.

The story just begin, far from over. Have patient and watch movie.

Posted by CyrusQ > 2023-09-11 17:23 | Report Abuse

supersaiyan3

Jangan meremehkan kebijaksaan bilis. Lol.

The story just begin, far from over. Have patient and watch movie.

# Lol watch movie ? Conclusion ?

Posted by Vhydro > 2023-09-11 18:39 | Report Abuse

MAA gang says german gang kacau will menakutkan creditors.
Bilis says MAA gang only came out to explain when german gang comes kacau. If no come, then they diam diam saje.

Both gangs also have bad intention?
Both gangs also wants to take advantage of cheap KNM share price and control the Borsig?

Bilis akan menang??? hahhahaha

Posted by ocbc > 2023-09-11 18:41 | Report Abuse

SGX comfirm welcome Borsig listing, rare to have European n profitable renewable energy counter around.