Yes, we are wondering whether Tunku and his team actually know how to do business. Guess what? Tunku is placing his bet on it. In fact, he is slowly increasing his bet. That should say something. It's like he's telling us, don't worry, we know what we are doing.
We certainly hope so. So far, they have not met their KPI of selling off their loss-making businesses and listing Borsig on SGX as promised. The deadline was June 2024. But in the process they have overcome a few obstacles like getting rid of German guy, going through with their EGM and recent AGM without problems and lately getting a temporary relief from their creditors.
News is not out yet from the management. We only know they are still trying hard to save the burning ship and set it on the right course. The last we heard is that we should hang on tight and good news will be forthcoming soon. As investors we actually enquired about a new date and we were told to bear with them for another 3 months till September.
Well, me and my few friends would hold on to our position and perhaps slowly add a little bit more. Keeping our fingers crossed and waiting patiently for that good news that would make us richer. Banking on the fact that Tunku has more to lose than us.
There's no good news on the Borsig listing so we have to assume it didn't materialize for some reason. Nevertheless the senior staff at KNM seem to be very upbeat lately. And their boss is accumulating more shares. Something must be brewing quietly. I was told they are working hard to get off PN17 and there is some light at the end of the tunnel. It's getting a bit mysterious. They didn't say more. Maybe this time they want to keep things under wraps first? Let's hope they give us some good news. Can't wait...
I contacted some senior staff earlier before their EGM. I still keep in touch with them. Last time they give me lot of information but lately they also didn't say anything about listing Borsig. So I have to assume the project didn't go through. But they remain confident KNM will get a breakthrough soon. No details yet. I will update once I got some news.
A lot of people are scared about MCMC new Act. Personally, I believe it has something to do with politics, like silencing the opposition.
Wow, Tengku and his MAA keep on accumulating KNM shares. Any good news.....brothers and sisters. Just for a laugh....looks like they are taking KNM private....
Unconfirmed good news. Yes, they are selling at good price which will generate huge cash and improve cash flow. They will not take KNM private but lift it out of PN17. But still waiting confirmation. As we can see, MAA and KNM seem very optimistic. We are holding our breath and waiting to confirm.
@ SGX6138....i was just kidding to say KNM would go Private. If it should go private it is no good for existing shareholders. If the price is high by going Private it will be a big welcome but if the Privatization price is low then it will be a bad news for the existing shareholders.bWhen Tengku and his MAA gang keep on buying up KNM shares....i am quite worried that this will happen. Hopefully not because it is not a healthy thing to do for existing shareholders....
Any idea in which direction the process will go? Japanese company still interested in buying BORSIG? And do you think that Oct 2024 will be the final extension point?
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Orson Chin
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Posted by Orson Chin > 2024-07-03 17:45 | Report Abuse
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