Top 20 shareholder from Simply Wall update on 1st Sept
7.01% MAA Group Berhad, Asset Management Arm 233,001,800
3.2% Inter Merger Sdn. Bhd. 106,465,805
1.8% Aveda Assets Capital Inc 59,753,100
1.75% Kumpulan Wang Persaraan 58,120,800
1.74% Cheow Har Ooi 57,740,300
1.73% Kenanga Investors Berhad 57,427,500
1.53% Norges Bank Investment Management 50,898,470
1.52% Tokio Marine Asset Management Co., Ltd. 50,440,000
1.45% Swee Lee 48,232,652
1.42% Siew Gan 47,296,250
1.02% Bank Julius Bär & Co Ltd., Asset Management Arm 33,800,000
0.81% LGT Capital Partners (FL) AG 27,000,000
0.66% Petroliam Nasional Berhad 22,091,500
0.62% Yoon Chee Wong 20,550,000
0.47% Genting Utama Sdn Bhd 15,500,000
0.47% Soon Puay Er 15,500,000
0.39% Gaik Eng Lim 13,000,000
0.37% Dimensional Fund Advisors L.P. 12,449,420
0.32% Tuan Kwee Teo 10,500,000
0.31% AIIMAN Asset Management Sdn. Bhd. 10,372,300

Look like kumpulan wang persaraan, Kenanga Investors Berhad & Genting Utama Sdn Bhd aslo optimistic on KNM after change management...gogo borsig

dont forget to vote on agm and EGM As well

all minority shareholder should unite to vote out lse family

Please Vote AGAINST resolution
1 dato halim
2 madam gan
6 dato khalid
8 related party transaction

EGM will be after AGM on the same day, vote AGAINST for the private placement

Breaking Insider news!!!!!

Proxy form voted against resolution or blank forms probably already hijacked by LSE GSL, LEONG CHOON MENG parties, please re-send your proxy form copy to Boardroom service for record and co-sec directly via email address,
cosec@knm-group.com
all shareholders please check and to ensure your rights is protected and exercise accordingly.

risk8888
You must kidding,The Borsig group eventhough is profit making but it is not justifiable for the super high purchase price of euro350 mil in 2018. This is another reason why the KNM share price collapsed after the Borsig acquisition jn 2018.
The WTE UK project initiated by LSE is another evidence causing huge losses to the group since 2012 land acquisition. Another laughing case of WTE project done by LSE.
Ethanol factory project in Thailand managed by the daughter Sara Lee and the Lee family INCURRED huge losses for the group and at the same time the daughter granted 25,000,000 esos in reward because causing the huge losses to the group. This is really a joke!!! And abuse of power by the mother GSL and the Esos committee just approved without question. Please check and study carefully in KNM AR page 94, don't simply posting nonsense article and misleading shareholders here.

wingman9898

This is very serious issue, shareholders shall report to police and authorities to take action immediately and protect your rights and your hard earned money.

Chew fook sin (brother in law of GSL) retired from KNM board in may 2018 but granted huge allocation of ESOS (18,000,000) in 2019, and LSE exercised ESOS 40,000,000 after his retirement, this practice is not compliance company policy.
Furthermore the huge ESOS 25,000,000 was allocated to LSE and GSL's daughter Sara Lee without SHH approval and announcement.
GSL (executive vice chairman and then ED), never come to office to work, also not justifiable for the 40 mil esos allocation. All these esos has been exercise by lse , gsl and lee family should be excluded in the coming AGM or EGM to vote.

proxy form voted against resolution probably already hijacked by third parties, please re- send your proxy form copy to Boardroom service for record, all shareholders please check and to ensure your rights is protected and exercise accordingly.

Dear KNM shareholders, in order to avoid your proxy form mis place or hold by third parties, please send your proxy form direct to Boardroom service and for those already sent, please kindly resend again to boardroom service office. Thank you and stay safe

vote AGAINST resolution
1 dato halim
2 madam gan
6 dato khalid
8 related party transaction

EGM will be after AGM on the same day, vote AGAINST for the private placement

vote AGAINST resolution
1 dato halim
2 madam gan
6 dato khalid
8 related party transaction

The rest vote FOR

EGM will be after AGM on the same day, vote AGAINST for the private placement

4- Since 2000’, the Company has been renting a four storey shoplot office located at Taman Sg Besi Indah from the landlord, inter merger Sdn Bhd, a related company where LSE and GSL are the shareholders of the company.

Im Bina Sdn Bhd, a related company where both LSE and GSL are the substantial shareholders of the company, had awarded hundred millions of turn key contracts from KNM in the past 10 years, the company has became dormant in 2018 following the failures in delivery of all projects to KNM.

Given that LSE and GSL failed practice good corporate governance, we urge the shareholders to scrutinise the proposed RRPT and to vote against the RRPT to deter conflicts of interests and to protect the interest of the shareholders of the Company.

5- After his retirement, LSE has claimed a compensation in lieu of unutilised leave since 2003 totalled RM2.3 mil and such amount was paid out to LSE commencing Jan 21 progressively. This claim is dubious due to:

⁃ Whether LSE is eligible to a compensation in lieu of unutilised leaves as the Company does not have a policy to allow employees to carry forward yearly unutilised leave after March of the following year. Any unutilised leaves are to be forfeited after Mar the following year. Therefore, it is highly questionable why LSE enjoys such privileged treatment, which was only surfaced and claimed after his retirement.

⁃ Whether this compensation subject to members’ approval prior to the payout started in Jan 2021,

⁃ Whether the basis of this compensation is being carefully reviewed and approved by the board as the unutilised leaves that LSE claimed e.g. 28 days every year are apparently without taking into consideration of his personal overseas holidays which he had enjoyed during this period.

It is noticeable that this claim was secretly put thru for payment in Jan 2021 with direct instruction from his spouse, GSL who is a director of HR as well as the VEC of the Company. This is a clear conflict of interest.

We would like to highlight to you that the above transactions have caused a serious concern over:

⁃ Abuse of power of director of hr, VEC

⁃ The members of board have failed to seek clarification on the basis of the ad-hoc claims made by LSE.

⁃ Breach of governance, mandate from members are not secured.

⁃ Unforeseen cash outflow caused loss in cash

⁃ Inaccurate disclosure in the past financial statements since 2003

⁃ The integrity and the independence of the senior board members are in question as to how they could continue to protect the Company and the members from any future loss due to personal advantages of individual.

We urge the shareholders to reassess the capabilities and the performance of the directors who have been afraid to seek clarification over the dominance of LSE and GSL. We also urge the authorities to take appropriate action against the persons who are committed to take advantages from the Company illegally.

2- On 29/4/2020, ,a civil action was initiated by SC against LSE for an alleged breach of section 188(2) of the Capital Markets and Services Act 2007 (CMSA) for insider in respect of the disposal of KNM Group Berhad shares by LSE. As a senior and key member of board of the Company, LSE and his spouse, GSL failed to inform the Board members of the Company and make announcement timely as required under the Listing Requirements on the allegations and the civil action taken against him by SC, during his term as a group ceo and a senior board member of the Company.

LSE announced a sudden retirement on 9 Jul 2020 and offered himself a new role as a Special Adviser to the Board. It is noticeable that the board not only accepted his new appointment but also promoted his spouse, GSL being the vice executive chairman (“VEC”, a new role created with ultimate control over the day to day operations of the group). GSL, who is also an existing director of HR, hardly come to office, without industrial knowledge of the operations, has officially took over the supremo roles of LSE despite a new group CEO, a senior officer who has been working in the group for 8 years before his promotion.

The sudden appointment of Special Advisor and the rationale of appointment of a new role as VEC were not explained to shareholders of the Company until today. The rumours viral pertaining to LSE‘s insider trading case followed by the announcement in the SC website after 26 April 2020, has dented the Group’s image this is because LSE was not only holding high profile roles in the Group but also was a person in-charged to uphold a high level of integrity as well as good corporate governance of the Group. The board members continue to allow him and his spouse to undertake active roles in the operations of the Group during his investigation period. This is obviously unusual and was done without clarity and transparency to the shareholders of the Company.

 We urge the shareholders to vote against the reappointment of Dato’ Halim, Dato’ Dr Khalid and GSL as directors of the Company as they have failed to practise good corporate governance and safeguard the best interest of the Company and shareholders.

3- We were informed that the chairman of Audit Committee (“AC”), LSE and GSL were attempted to influence the external auditors, KPMG to amend contents of the independent auditors’ report for FY2020. Their attempts to exert undue influence over the independent auditors have breached the corporate governance. KPMG insists no change in the independent auditors’ report as issued.

 We urge the shareholders to demand the Board of Directors to remove the existing Chairman of AC and to appoint a new qualified independent non executive director to be the new AC Chairman of the Company.

We also urge SC and Bursa to take necessary actions against SYY, LSE and GSL on their attempts to exert undue influence over audit independence.

1- On 18/4/2014, the Company’s shareholders had approved the establishment of an ESOS to all eligible employees including directors of the Company and its subsidiaries.

 On 25/7/2014, a total number of 212,491,400 ESOS had been granted to 654 eligible employees at an exercised price of RM0.65 per share and a contractual life of 8 years (“ESOS Batch 1”). Out of which, a total of 71,292,800 ESOS were allocated to the Directors of the Company including 62,645,607 ESOS were allocated to Lee Swee Eng(“LSE”), spouse, Gan Siew Liat (“GSL”) and brother-in-law, Chew Fook Sin (“CFS”), represented 34% of total ESOS granted under ESOS Batch 1.

 On 27/3/2019, a total number of 194,338,000 ESOS had been granted at an exercised price of RM0.11 per share and a contractual life of 3 years to all the eligible employees (“ESOS Batch 2”). Out of which :

60% of the total ESOS Batch 2 representing 116,500,000 ESOS were allocated to the Directors of the Company including LSE (60 mil), GSL (40 mil), Dato’ Halim(2.5 mil), Dato’ Dr Khalid (2 mil), Soh Yoke Yan (“SYY”, 2 mil), Rizal bin Bahari (10 mil, a director of a loss making subsidiary in Thailand, who was later joined the Company as a non independent non executive director on 25/11/2020 and recently resigned on 30/5/2021) and,

⁃ 23% of total ESOS batch 2, representing 44,600,000 was allocated to the family members of LSE and GSL, including daughter Sara Lee Mei Ching (25 mil, who was a director of a loss making subsidiary in Thailand, resigned in Jan 2020), CFS (18 mil, who retired as a director of the Company in 2018 and now a director of a RM2 paid up capital loss making subsidiary) and a cousin of GSL, Wong Lay Fong (2 mil, a HR manager).

It is noticeable that under the ESOS Batch 2:

⁃ all directors of the Company as well as CFS are allowed to have an advantageous privileged vesting condition to exercise all options granted in immediately as compared to other employees’ vesting condition of over 3 years. This is a breach of the Listing Requirements and ESOS bylaws where such amendment in vetting condition require shareholders’ approval.

⁃ Both Rizal and Sara Lee did not play any active role in the operation of the subsidiaries, as well as in the Group. Sara Lee (and GSL) also hardly came to office for the past 10 years.

⁃ A total of 75% (145.3 mil) of ESOS batch 2 has been allocated to LSE, GSL and their connected persons. Out of which, 118 mil are to be exercisable immediately.

 We have also been informed that in the latest allocation of ESOS at RM0.165 per share (ESOS Batch 3), GSL and the persons connected have been allocated significantly more ESOS than other KNM employees combined.

In accordance with ESOS bylaws 4, the ESOS committee will have to follow a set of guidelines adopted after taking into the consideration amongst other criteria, the grade, length of service and performance of the eligible employees as the basis to determine the allotment and maximum allowable allotment. Based on an internal source, the ESOS committee failed to provide the approved guidelines to the external auditors, KPMG for audit purpose in fy2020 therefore the basis of allocation of 80% of total ESOS Batch 2 allocated to LSE, GSL and their connected persons together with Rizal, and their privileged vesting conditions, not only highly questionable but also already robbed the entitlements of all other employees within the Group. However, the ESOS committee did not explain its rationale to clear the public doubts, and this remains an outstanding audit issue posted by KPMG in 2021.

 We urge the shareholders to seek full particular of the transactions and to reassess the performance and the capabilities of ESOS Committee as well as the basis of the substantive amount of ESOS allocation to Rizal, LSE, GSL and their connected persons.