Posted by OtisKL > 2023-10-11 15:58 | Report Abuse

@bullkobear, hope your prediction is right and correct.
Borsig listing is like a child coming to maturity, standing on her own, building up her own destiny. By doing so, Borsig can realise its vision of having their wishes like production facilities for their products in this part of the world, setting footprint firmly here. Unlike outright sale, it only benefits KNM or the next buyer like slavery, but listing gives independence to Borsig.

Posted by THE ROCK > 2023-10-11 16:00 | Report Abuse

Whatever had been said or written in this forum has no guarantee it is real or not. At the end of the day, whether it will turnout good or bad....the only answer we get is....I TOLD YOU SO.....As for me, if you want me to believe what has been said by Tengku that by supporting them, KNM share price will be at least 40 cents.If he is so confident then he should have said....Whoever holding KNM shares below 40 cents....if one wants to sell...Tengku will buy it back at 40 cents. Just like Lee Kah Shing said to his shareholders when that Financial Crisis erupted many years ago....Talk is nothing...
As for me, like the old saying goes.......
YOU TALK....
i..LISTEN

Posted by OtisKL > 2023-10-11 16:01 | Report Abuse

One day, I hope to see Mr Stegger sits on KNM board too. Great to tap on Mr Stegger's expertise and experience to maneuver KNM as well.

Posted by Nch21396 > 2023-10-11 16:02 | Report Abuse

True & facts will prevail. Fake news & conman will die off eventually !!!

Posted by Alex Chua > 2023-10-11 16:02 | Report Abuse

Thinking if today is the registration cutoff for voting ..if i sell all tmr still can vote?

Posted by sonyx123 > 2023-10-11 16:03 | Report Abuse

The current batch management yet to deliver anything tangible, and share price has been going downhill.... might be worth to give the Germans a chance to turn things around

Posted by theboss9009 > 2023-10-11 16:05 | Report Abuse

mixture of commentators here. Don’t know who to trust also.

Posted by mf > 2023-10-11 16:10 | Report Abuse

First U.S. weapons arrive in Israel, Biden calls Hamas attack 'sheer evil'

Posted by OtisKL > 2023-10-11 16:16 | Report Abuse

@theboss9009, like the saying goes, "the proof of the pudding is in the eating." Wait till tomorrow's court convened creditors meeting. If the consensus is that the creditors accepted the plans of the current board, then, you roughly can gauge which direction the wind blowing. But it's not the firm results, October 16th will determine the results if the plans comes to fruition or not. Without the current management it may not be possible to execute as planned, as its greatly connected to the type of "cables" laid to come to such plans. The "special cables" may not be there as the "engineers" or the person at driver seat no longer there.

Posted by EatCoconutCanWin > 2023-10-11 16:19 | Report Abuse

Don't fight. Cont pn17 easy

Posted by OtisKL > 2023-10-11 16:26 | Report Abuse

The Star carries the hints of the situation of KNM:

https://www.thestar.com.my/business/business-news/2023/10/10/knms-fate-hingeson-two-meetings

Posted by MacDee34 > 2023-10-11 16:35 | Report Abuse

Tunku Kamariah would be appointed as the new chairman if her camp, led by German billionaire Andreas Heeschen, secures majority support from KNM’s shareholders.

The Johor princess referred to Heeschen as a “friend” who was “invited to invest in Malaysia with the hope of restructuring KNM from its financial struggle while bringing in foreign direct investment and job creation”.

https://www.thestar.com.my/business/business-news/2023/10/11/a-battle-royale-for-control

get the news from legitimate sources, not these paid trolls below:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

Posted by OtisKL > 2023-10-11 16:48 | Report Abuse

I am paid by @MacDee34 with McDonald's vouchers to buy MacDee burgers..... poor cry baby once a newbie too.

Posted by kyliew > 2023-10-11 17:30 | Report Abuse

Lesson learned, don't chase high

Posted by TheEqualizer > 2023-10-11 20:01 | Report Abuse

Put your money where your words is. German n johor side please buy knm shares. If not dun just talk only. Action speaks louder than words.
lol
Dun just beli sikit buy more! lol
TY buys much more wor

Posted by TheEqualizer > 2023-10-11 20:03 | Report Abuse

That being said, looks like tussle getting big. Btw anyone knows why johor n negeri sembilan royalty are battling? sounds like got issues only

Posted by Auntylee > 2023-10-11 20:06 | Report Abuse

https://www.klsescreener.com/v2/announcements/view/5804039
Apa sudah jadi???

Posted by Auntylee > 2023-10-11 20:08 | Report Abuse

Reference is made to the Company’s announcement dated 25 September 2023, and the Notice of Court Convened Meetings following the High Court Order dated 15 December 2022, 9 March 2023, 11 August 2023 and 20 September 2023.



The Board of Directors of the Company wishes to announce that the Company attended a hearing before the Kuala Lumpur High Court on 11 October 2023, where the Court directed that the Court-Convened Meetings initially scheduled on 12 October 2023 be adjourned to a subsequent date. The Company will thus convert the Court-Convened Meetings into an informal meeting to seek the views of the Scheme Creditors with regard to the Proposed Scheme of Arrangement. The time and venue of this informal meeting will remain the same.



Further development in relation to the RO and SOA will be announced in due course.



This announcement is dated 11 October 2023
so, no support from creditors liao, apa macam.???

Posted by OtisKL > 2023-10-11 20:33 | Report Abuse

KUALA LUMPUR (Oct 11): In the on-going shareholder tussle over control of cash-strapped KNM Group Bhd, its current management has contended that the upcoming extraordinary general meeting on Monday (Oct 16) could mark a turning point for both KNM and its German-based wholly-owned subsidiary Borsig GmbH should shareholders vote to maintain the management and board, which are planning to list Borsig on the Singapore Exchange.

https://theedgemalaysia.com/node/685683

Posted by OtisKL > 2023-10-11 20:34 | Report Abuse

“The outcome of the upcoming EGM on Oct 16, where stakeholders will vote on the current management, could have a significant impact. A favourable result for the current management may not only enhance the value of Borsig through its IPO but also uplift the entire KNM Group,” Borsig chief executive officer (CEO) Jurgen Stegger said in a statement on Wednesday.

Stegger said that the listing of Borsig — slated in the second quarter of 2024 on the Singapore Exchange - was a strategic move by the current management of KNM to address the considerable financial losses incurred under the previous management.

Posted by doubleup > 2023-10-11 20:39 | Report Abuse

Well said. The Borsig listing is on track. But some ppl still have doubts. If it's not a done deal then why are all the investment bankers in KL for them today show. Unless they think the road show is fake news. Adoi...

Posted by OtisKL > 2023-10-11 20:51 | Report Abuse

PETALING JAYA: The current line-up on the KNM Group Bhd board of directors has received a much-needed boost in the ongoing battle for control of the company.

The company’s wholly-owned German unit, machinery and equipment producer Borsig GmbH, broke its month-long silence today to throw its lot behind current chairman Tunku Yaacob Khyra and his team.

https://www.freemalaysiatoday.com/category/highlight/2023/10/11/knms-german-unit-borsig-voices-support-for-tunku-yaacob/

Posted by Auntylee > 2023-10-11 22:23 | Report Abuse

OtisKL, Lu banyak rajin, tulis banyak banyak 108 dalam satu bulan, hari ini tulis 16 comment, lagipun semua tulis CERITA KNM SAHAJA! Boleh share tak berapa upah team Malaysia bayar kamu?

Posted by Auntylee > 2023-10-11 22:34 | Report Abuse

Doubleup, are you working in KNM group? Wonder 🤔 you said met up the German huy
met with the boss of Borsig Mr Juergen two days ago. He specially flew down to give a comprehensive presentation of Borsig to the investment bankers for his listing project on SGX. When they hit on the topic of Flavio you can see he was visibly upset but he maintained his cool and only said it was "irritating" that Flavio chose to play his takeover game at this critical time.

Posted by Auntylee > 2023-10-11 22:36 | Report Abuse

You tak cukup rajin seperti OTISKL, hanya tulis 33 comment (semua CERITA KNM sahaja)😂

Posted by calvintaneng > 2023-10-11 23:09 |

Post removed.Why?

Posted by supersaiyan3 > 2023-10-11 23:43 | Report Abuse

Its so strange, substantial holders don't buy can go to 17c, now substantial holders buy drop to 11c.

I mean, things get unusual must have monster.

Posted by OtisKL > 2023-10-12 06:37 | Report Abuse

@Auntylee, lu tarak pegi universiti tapi tau kira betul2, bagus banyak pandai. Waa emak dulu jual sayur sana market, tarak masuk sekolah, tapi ah pandai carik duit. Waa rasa Aunty pandai carik duit jugak. Aunty, waa tengah buat thesis atas KNM, buat research untuk universiti. KNM tarak duit, mana boleh kasi duit sama waa?
Apa pasal orang sini mesti register 20 tahun dulu baru boleh tulis ah? Aunty, waa register ini akaun pasal waa ta mau pakai akaun biasa, ta mau campur2, nanti jadi sui-yok...

Posted by OtisKL > 2023-10-12 06:46 | Report Abuse

@Auntylee, waa suka aunty cakap waa team Malaysia. 😍 waa jumpa aunty sana klse, yum-cha belanja sama aunty.

Waa tengah "observe" people's reactions and remarks as " Human perceptions" (newspapers, tv, magazines, forums, etc livor online or printed) influencing the share prices. KNM group was recommended by my invigilator, as its a counter that doesn't pay dividends, consists of more minority shareholders than others, but the volatility of share prices are amazing.

Posted by MarketPredictor > 2023-10-12 07:48 | Report Abuse

Heeschen ups stake in KNM ahead of key EGM to oust current chairman and directors
By Justin Lim / theedgemalaysia.com

Posted by OtisKL > 2023-10-12 07:54 | Report Abuse

https://www.bfm.my/podcast/morning-run/morning-brief/tourism-hospitality-sector-incentives-budget-2024-wishlist

Posted by bullrun168 > 2023-10-12 07:59 | Report Abuse

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.

Posted by OtisKL > 2023-10-12 09:05 | Report Abuse

David Iben put it well when he said, 'Share prices volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is.

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control.

Posted by MacDee34 > 2023-10-12 09:09 | Report Abuse

As you can see from the real news, the German investor brought in by Johor princess Tunku Kamariah did not sell off and run away. He added more and appears to be the single largest shareholder of KNM.


https://theedgemalaysia.com/node/685794

Shareholders on KNM know its value to Malaysia and what to do to get rid of TY and his cronies. Vote for change. We did it before, and we will do it again.

Don't listen to the noise coming from the paid Tunku Yaacob Trolls who only spreads lies and unfounded stories of the fake mafia listed below. Notice what day these accounts were created and look at what they post vs what is in the real news:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

Posted by MacDee34 > 2023-10-12 09:14 | Report Abuse

I see the creditor meeting scheduled today has been canceled and replace with a KNM Creditors social event. Seems there was some type of legal activities yesterday where the court adjourned the meeting. I can't wait to see what this is all about. I guess the creditors have spoken and do not support TY and his plans to sell off KNM assets either.

Let's vote and get rid of these incompetent baffons.

Posted by doubleup > 2023-10-12 09:16 | Report Abuse

Early morning fun. The Edge highlighted Heeschen's purchase of 13.6m shares. But they forgot to highlight Tunku bought 37m shares. Twice. Hehe... a bit biased reporting, don't you think so? But that's not the joke. That 10m shares that Heeschen bought on the 10th cannot vote based on the ROD as of 11th to vote. He's being taken for a long garden ride by his local partners.

Posted by doubleup > 2023-10-12 09:21 | Report Abuse

Let's see what Borsig boss has to say about their listing and how it will help KNM. Again it's The Edge. They have to be unbiased at times too, to maintain their credibility.

The title says, "KNM could turn around if EGM vote goes to current management, says Borsig CEO"

KNM could turn around if EGM vote goes to current management, says Borsig CEO.

“The outcome of the upcoming EGM on Oct 16, where stakeholders will vote on the current management, could have a significant impact. A favourable result for the current management may not only enhance the value of Borsig through its IPO but also uplift the entire KNM Group,” Borsig chief executive officer (CEO) Jurgen Stegger said in a statement on Wednesday.

Stegger also expressed his deep trust for KNM's current management led by Yaacob. "His [Yaacob] steadfast leadership has earned stakeholders' trust and is warmly welcomed by financial partners and premium investors, making the journey towards IPO highly anticipated and promising," he said.

OK, guys. My morning coffee reading is done. Again, no fake news. You can read for yourselves. See whether got more news later. Enjoy ya. Good luck for the day.

Posted by doubleup > 2023-10-12 09:22 | Report Abuse

The link is here,
https://theedgemalaysia.com/node/685683

Posted by OtisKL > 2023-10-12 09:26 | Report Abuse

@doubleup, good morning and have a nice day ahead... 😊 I am heading to the library for more materials, then maybe try to drop by klse awhile..

Posted by OtisKL > 2023-10-12 09:42 | Report Abuse

Mr Flavio Porro was the Executive Director from Jun 25th, 2021 till December 13th, 2022. That's solid 18 months at the helm of KNM Group.

https://www.klsescreener.com/v2/announcements/view/3384223

My queries:
a. What was the role of an Executive Director in KNM Group then? Coupled being Joint Managing Director of international subsidiaries.
2. Are there business plans that Mr Porro put in place did not materialise? If yes, what were the likely reasons?
3. During the same period, there were several times shareholders shares diluted. It happened in 2023 too. Is this a standard company strategy?

Posted by doubleup > 2023-10-12 10:07 | Report Abuse

I was told Flavio created a mess at KNM during his time, including at Borsig. I don't know some of the details but I understand his main crime was gasaking RM17 million doing the Borsig sale to his friend at Vorsprung. The deal didn't go through and Borsig had to pay compensation for it. He is lawyer and general counsel for the group.

Posted by doubleup > 2023-10-12 10:08 | Report Abuse

Better let the police investigate these allegations first since police report already lodged.

Posted by OtisKL > 2023-10-12 10:33 | Report Abuse

@doubleup... police issue, let them handle.

In the Tunku Kamariah's statement, she mentioned she want a unity board, how possible is that? Can the board invite Heeschen and Bekir Taib into the board, as well as Stegger as Borsig being listed into SGX?

Posted by doubleup > 2023-10-12 10:47 | Report Abuse

@OtisKL, I don't understand what she talking about. How to unity leh? The two foreign guys are crooks. Can work together meh? I think Bekir Taib not interested to do the business, he just want to invest only. So will be non-executive loh. If Tengku Kamariah is interested to work together maybe can. She is clean. But not for us to say. The boss decide.

Posted by Jonathan Keung > 2023-10-12 12:34 | Report Abuse

Everything is not so straight forward. Initially, the Borsig price { 2 years back } was agreed at 220Million Euro. But the deal fell thru despite numerous timeline contract extension. Now they mentioned Borsig valuation is worth 300 -320 Million Euro. Without prejudice this may or maynot be termed as asset stripping selling at depressed pricing. Just exercised your rights and vote a the EGM

Posted by TheEqualizer > 2023-10-12 12:59 | Report Abuse

A lot of ppl are also confused by the term asset stripping dei.
Stripping means selling outright.
Does listing on sgx means asset stripping?
Dei

Posted by OtisKL > 2023-10-12 13:12 | Report Abuse

@MacDee34... Posted by MacDee34 > 3 hours ago | Report Abuse

As you can see from the real news, the German investor brought in by Johor princess Tunku Kamariah did not sell off and run away.

Your facts is misstatement and misleading. Please refer to KNM Group Announcement with regards to Borsig sale to 1st buyer - Andreas Heeschen. From earlier years, Mr Heeschen was involved in the affairs of KNM Group. So, the rethoric of Mr Heeschen introduced and accepted invitation to join KNM are mere attempts of burying hard facts. I am based on real materials produced in the official website and annual reports of KNM Group and its subsidiaries. Facts don't lie, but people snakes fallen Lucifer that eliminated the Lee family for self-gratifications will face the karma. What goes around comes around, dude...

Posted by UpUpRocket > 2023-10-12 13:13 | Report Abuse

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

Posted by MacDee34 > 2023-10-12 13:15 | Report Abuse

You you guys get paid for full time work or all these made up accounts under Steve Ho?

Don't listen to the noise coming from the paid Tunku Yaacob Trolls who only spreads lies and unfounded stories of the fake mafia listed below. Notice what day these accounts were created and look at what they post vs what is in the real news:

OtisKL | Joined since 2023-09-08
doubleup | Joined since 2023-09-07
Adagold | Joined since 2023-09-05
UpUpRocket | Joined since 2023-09-09
maxwin69 | Joined since 2023-09-07
SGX6138 | Joined since 2023-09-09

Posted by OtisKL > 2023-10-12 13:22 | Report Abuse

@doubleup, would you agree with me, the 2 guys are just the heads, KNM management should weed out all the loyalists of them so betrayals, information leaks, insider trading can be totally destroyed. These people are like cancer cells to the company.