MacDee34

MacDee34 | Joined since 2019-07-31

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1 month ago | Report Abuse

Tunku Yaacob Khyra: The Mastermind Behind KNM Group Bhd’s Vote Rigging Scandal:

Wow, you have to remember to check the internet news with a proxy or VPN these days. So much is blocked about KNM and the crooks running it. Shame on our MCMC for supporting fraudsters Like Tunku Yaacob Khyra and his failed MAA management running KNM.

If you can't access the link below, here is a small part of it exposing Tunku Yaacob:
Unfolding Allegations and Key Developments:

The scandal has unraveled further with the disclosure of communications from shareholders in reference to the KNM extraordinary general meeting (EGM) results from the 16 October 2023 election. These shareholders have expressed their outrage upon discovering that their names and shares were used without their consent, seemingly to secure Tunku Yaacob’s position at the helm. This misuse of shareholder identities has severely compromised the EGM’s integrity and placed Tunku Yaacob as the primary beneficiary of this fraudulent scheme.

The gravity of the situation was highlighted by the CCID’s intervention, where documents were seized from the Company Secretary’s office and the voting registrar. The focus was on suspected forged proxy forms. More than ten shareholders have reported that they were contacted by the CCID and interviewed, only to discover that their names were used and signatures forged.

https://businesssuntimes.com/tunku-yaacob-knm-vote-rigging-scandal/

We need to find honest people to run public companies.




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2 months ago | Report Abuse

TY forced MAA to buy 91 million KNM shares at double the market price with an immediate loss of RM 7,280,000 because TY made a personal deal with his friend to help him win the KNM EGM? How can the MAA shareholders absorb a loss like this without shareholder approval? I thought this was a public company. Can we hold the Board personally liable for this loss? how can Bursa allow this? Where is the SC?

T. YAACOB VIA MAA PURCHASE OF 2.25% STAKE IN KNM ON 8.02.2024

Ref. is made to the 2.25% KNM stake purchase at double market price by T. Yaacob, equivalent to 91,000,000 KNM shares.

This off-market deal at 0.165sen/share follows the announced intention to deal within a closed period (announced on 6.02.2024) and was made on 8.02.2024 with MAA Berhad (TY) increasing its stake in KNM at the same price paid in October 2023 by Datuk Seri Mahmood Taib, who entered as significant shareholder with a 5.06% stake, later reduced below the threshold amount of 5%. T. Yaacob was committed to buying back all of DS Mahmood shares at the same price paid by the latter. This deal represents for MAA a loss of 0.080 per share [0.165sen less 0.085sen].

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2 months ago | Report Abuse

TY forced MAA to buy 91 million KNM shares at double the market price with an immediate loss of RM 7,280,000 because TY made a personal deal with his friend to help him win the KNM EGM? How can the MAA shareholders absorb a loss like this without shareholder approval? I thought this was a public company. Can we hold the Board personally liable for this loss? how can Bursa allow this? Where is the SC?
T. YAACOB VIA MAA PURCHASE OF 2.25% STAKE IN KNM ON 8.02.2024
Ref. is made to the 2.25% KNM stake purchase at double market price by T. Yaacob, equivalent to 91,000,000 KNM shares.
This off-market deal at 0.165sen/share follows the announced intention to deal within a closed period (announced on 6.02.2024) and was made on 8.02.2024 with MAA Berhad (TY) increasing its stake in KNM at the same price paid in October 2023 by Datuk Seri Mahmood Taib, who entered as significant shareholder with a 5.06% stake, later reduced below the threshold amount of 5%. T. Yaacob was committed to buying back all of DS Mahmood shares at the same price paid by the latter. This deal represents for MAA a loss of 0.080 per share [0.165sen less 0.085sen].

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2 months ago | Report Abuse

Haha.. there is a photo of the land title in the article. Very strait forward. Who are you @gmsyhy88 to define the news for people. We smart enough to decide what is right and wrong without your help.

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2024-01-23 14:21 | Report Abuse

Hcthey, just read the auditors report. Check the news all posted in the past here in the forums. These are not things to discuss and form opinions. They are just the facts. The YU family has caused all this mess in the market with books that after 18 months can't be audited resulting in the auditors to resign. JV deposits showing as an asset are not assets as currently booked. How to collect 1.2b in deposits from a bunch of RM 2 companies?

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2024-01-23 10:46 | Report Abuse

Those comments about NTA are just wrong. The NTA is stated at 2.20/share. This in a qualified audited where 1.2B in assets from phony JV deals is included. The math is simple here. 2.20*NOSH 528 million shares is RM1.167b. Less the bad assets of 1.2b means the NTA is below Zero....

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2024-01-22 11:19 | Report Abuse

You cannot simply trust everything in the financial statement. It's got issues, lah. The Auditors, they cannot confirm if these "JV" deals listed as assets in the balance sheet are of any real value. You need to remove 1.1B in assets from the balance sheet before you start analyzing the numbers. If not, you'll definitely make a mistake in your calculations. Also, you should know that most of the debt facilities, including the bonds, are defaulted and are just waiting for foreclosure or to be frozen. The assets that the management is claiming are not legitimate, as confirmed by the auditors. Yu Kuan Huat, Yu Kuan Chon, and Daniel Chan are all going to be held responsible for all these dodgy assets. This situation has really affected the whole market, lah. These three are going to have a tough time explaining themselves to the lenders and those who depended on them. Really, I wouldn't want to be in their shoes.

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2023-12-15 14:18 | Report Abuse

Raid or no raid lah.. it is not the beach club. The point is an investigation is confirmed about all the never ending hanky panky of Tunku Yaacob and his incompetent management. It never ends. Can't even do an honest EGM.

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2023-12-15 10:35 | Report Abuse

It seems the wheels of justice are finaly turning. Now the authorities are seizing documents for an investigation. Must be about that phony guarantee that Tunku Yaacob gave to FBM in the whistleblower report.

https://focusmalaysia.my/bukit-aman-cops-raid-knms-cosec-and-registrar-offices-seize-biz-documents/

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2023-11-12 09:58 | Report Abuse

It is good to see more truth being revealed on this knm management team. It has not been a secret that Golden Powers would not be able to approve the fbm deal. They just wanted to use it to appear as if they were doing the job. Clearly TY and his yes men have no clue what they are doing.

I learned last week that in thailand that CGIF has started foreclosure proceedings on the Thai asset. This is thenethanol plant that needs to be turned back on to produce revenue for KNM.

This should have been a material announcement to the market. Not hidden behind a bogus plan to asset strip the company.

It is time this KNM Board of Directors stands down. The level of incompetence is overwhelming.

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2023-11-05 19:57 | Report Abuse

It is much more revealing to look at your account opened yesterday:
Alister88 | Joined since 2023-11-04

You are the troll.

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2023-11-05 17:53 | Report Abuse

Trolls trolls and new trolls... please welcome todays new troll:

YusufM | Joined since 2023-11-05

it is always an interest to see how Tunku Yaacob, Ravi, and the respective Trolls try to twist the truth away from even the High Court Judge ruling.
Kindly ignore whatever these trolls have to say. these accounts were set the moment that the EGM to try to kick out Tunku Yaacob and his yes-men was noticed:

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

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2023-11-05 14:01 | Report Abuse

Well, there you go again Trolls, trying to rewrite my words into some false narrative and now creating conspiracy and links that don't exist. You just can't discuss the facts and the truth of the situation.

Tunku Yaacob had nearly 2 years with his Yes men in charge and they accomplished only to spend millions to end up with an Explanatory Statement that was thrown out by the Judge before it could even be voted upon. it was described as an asset-stripping exercise that would result in less for the creditors and shareholders than a liquidation. I should have never believed him and I will no longer support him like the rest he screwed over. That makes me angry, he is as incompetent as his trolls to think we are just going to stand by. Directors need to be held accountable to stakeholders for this waste of money and time.

Tunku Yaacob sells FBM, a golden power company in Italy. They purposely failed to notify and apply for permission for the sale because they were selling it to a buyer they knew would not qualify. I want to see a detailed audit of where those funds went. Ravi and Tunku Yaacob both well know that this transaction can never be approved and therefore how can they represent that it will to creditors and shareholders?

The Story about an IPO in Singapore for a company that does business with Iran is also a knowingly false representation. The laws about doing business with sanctioned companies in Singapore and very strict and clear. Even if Borsig can legally do so in Germany, they won't be able to in Singapore. Do you see any great mitigation of that issue, or are you trolls and Tunku Yaacob's Yes men covering up the facts with more false narratives?

I will never support crooks, corruption or liars. Tunku Yaacob promised us when he took over he would not Asset Strip KNM. read the articles yourself. He is a liar. That is exactly what he proposes to do and will never get approval to do so.

To those buyers of the "pre-ipo" shares of Borsig that will never be listed in Singapore, you better find collateral from Tunku Yaacob, because that money will be eaten like flies on shit the moment the Yes men get in control of it. When the company defaults on its promises to bring the company public, you will be so far down in line to get your money back, that they will charge you for postage to just tell you there is not enough money to pay you back.

I support whoever can bring fresh money to the company and invest in its ideal assets to get them performing. this creates jobs, tax revenues and return on investment for us Shareholders. it also pays back the Debts owed to the Creditors.

Tunku Yaacob and his companies do not have money to do anything. This has been proven by the financial statements and lack of performance. He is so over-leveraged with KNM that he will do anything to stay in control so we won't see what he is really up to. The Explanatory Statement is a legal document explaining his plan. that plan screws everyone over and was thrown out as worse than a Liquidation. This is said by a Judge and experts. it is why KNM could not get an advisor to endorse it. These are the facts and why I am angry. To see you trolls continue to spread false information different than the facts in writing to justify Tunku Yaacob and his obvious incompetence as a Businessman also makes me angry.

What makes me happy is KNM and its success.

No more fake stories Trolls......

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2023-11-04 23:32 | Report Abuse

OtisKL, you are full of hot air, it is better to listen to the judge and not the false narrative you pump:

YA Puan Liza Chan Sow Keng, presiding, noted the petitioners' failure to lodge a statement of particulars within the stipulated period. Furthermore, the appointment of director Ho Soo Woon was challenged due to concerns over independence and the omission of certain debts in the voting procedure.

The court also ascertained that the proposed arrangement scheme was "doomed to fail" as it lacked the requisite 75% creditor approval, with substantial resistance from principal creditors such as IPL (R3), Ann Joo Metal Sdn Bhd (R1), and Ann Joo Metal (Singapore) Pte Ltd (R2).

Reflecting on a precedent-setting judgment by the Federal Court, it was established that affiliated parties should not be amalgamated into the same creditor class as independent third-party creditors due to potential interest conflicts. This principle was enforced in the present case, where the majority of debts in Class B2 were attributed to entities closely linked to the petitioners, potentially skewing the scheme's voting process.

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2023-11-04 18:01 | Report Abuse

https://focusmalaysia.my/impatient-shareholders-take-knm-head-honcho-to-task-after-kl-high-court-rejects-restraining-order-extension/

For context, the KL High Court had on Thursday (Nov 2) shot down an application for the prolongation of the RO on grounds that the petitioners, KNM Process Systems Sdn Bhd and its associated bodies did not fulfill the stipulations delineated in Section 368 of the Companies Act 2016 which includes the obligation to submit timely statements of affairs and the impartial nomination of directors.

Apart from failure to lodge a statement of particulars within the stipulated period, the re-appointment of director Steve Ho Soo Woon effective yesterday (Nov 3) – just barely a fortnight after he was ousted on Oct 16 – was challenged due to concerns over independence and the omission of certain debts in the voting procedure.

The court also ascertained that the proposed arrangement scheme was “doomed to fail” as it lacked the requisite 75% creditor approval, with substantial resistance from principal creditors such as Ann Joo Metal Sdn Bhd and Ann Joo Metal (Singapore) Pte Ltd.

The court further underscored the scheme’s lack of transparency and inadequate financial disclosure concerning the proposed asset liquidation intended for debt settlement.

This is when the presiding judge Liza Chan Sow Keng stressed that the proposed disposals of assets including Borsig GmbH, FBM Group, Thai Assets and UK Assets were projected to fall short in generating sufficient funds to satisfy the scheme’s debts, thereby rendering the scheme unfeasible.

Above all else, the court criticised the scheme for not offering a more favourable outcome than liquidation for the creditors and for its lack of contingency on shareholder consent which is of heightened importance given the current shareholder disputes within the company.

Nevertheless, the oil & gas (O&G) engineering outfit said it will appeal the KL High Court decision in the Court of Appeal. “In the meantime, an ad interim RO (Erinford Injunction) was granted. The next case management was fixed on Nov 14,” noted KNM in a Bursa Malaysia filing.

In all fairness to its shareholders, things have not really been looking up for KNM shareholders since its Oct 16 EGM. Its share price, for one, is still languishing even as the counter ended 0.5 sen or 5.26% higher at 10 sen at the close of yesterday’s (Nov 3) trading which valued the company at RM405 mil.

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2023-11-04 17:54 | Report Abuse

it is always an interest to see how Tunku Yaacob, Ravi, and the respective Trolls try to twist my words to fit some false narrative they create. Kindly ignore whatever these trolls have to say. these accounts were set the moment that the EGM to try to kick out Tunku Yaacob and his yes-men was noticed:

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

Tunku Yaacob won the EGM by just 2% of the vote. Many people do not accept the results including the Royal family in Johor. Not sure how that will work out, but the vote clearly shows Tunku Yaacob does not have any support other than himself, Micheal Tang, and Taib Mahmud's son Abu Bekir who showed up and the last minute just in time to loose 40% of his investment.

That means he will not receive the support of shareholders in the bogus IPO in Singapore. The court, not the trolls, made clear statements that the Explanatory Statement to us Creditors was not going to work and not even worthy of the Creditor Vote that Tunku Yaacob called. The majority of the Class B Creditors (less the intercompany creditors who did not belong) filed the complaint to remove Stev Ho and the ES from he playing field leaving KNM with nothing but a waste of almost 2 years. I wonder how much money Tunku has paid his consultants and Yes men to drum up the bogus transactions in that the Judge threw out.

Even the FBM transaction is bogus, it does not even have a Golden Power application required by law prior to selling technology used in the Nuclear Power Industry. They did not apply because the buyer won't qualify. Who are they trying to fool? Ravi is the Director of this mess in Italy and will be subject to a fine of up to 200% of the transaction and Jail time. I think we all look forward to that happening.

As far as who I support to control KNM, I would like to see new blood with new money step in. I don't care if it is German, Malaysian, Chinese or what. We all know that MAA, and all of Tunku Yaacob Companies are out of cash and not making money. He only can manipulate people as he normally does. He had a long opportunity to show us what he can do. that resulted in losing the Restraining Order, and having his bogus plan thrown out. Even the Judge made it clear that his plan was not feasible in writing.

Trolls, get lost. You shame the Shareholders and Stakeholders. The facts speak for themselves.

I speak for myself, nobody who says anything else can change that as they keep trying. The corruption in this country is so bad, that it is accepted as normal business. this needs to stop. Cheating, manipulating, and misrepresenting facts need to be stopped.

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2023-11-04 10:05 | Report Abuse

In Kuala Lumpur, the Malaysian High Court has decisively turned down an application (Enc 125) seeking the prolongation of a Restraining Order (RO) in connection with a corporate restructuring scheme, produced by KNM Chairman Tunku Yaacob Khyra, pinpointing numerous legal infractions and questioning the likelihood of the scheme's success.
The adjudication drew upon the Federal Court's articulations in the Mansion Properties case, underscoring the necessity of protective measures for minority creditors within arrangements of schemes. The court adjudged that the petitioners, KNM Process Systems (KNMPS) and its associated bodies, did not fulfill the stipulations delineated in Section 368 of the Companies Act 2016, which includes the obligation to submit timely statements of affairs and the impartial nomination of directors.
YA Puan Liza Chan Sow Keng, presiding, noted the petitioners' failure to lodge a statement of particulars within the stipulated period. Furthermore, the appointment of director Ho Soo Woon was challenged due to concerns over independence and the omission of certain debts in the voting procedure.
The court also ascertained that the proposed arrangement scheme was "doomed to fail" as it lacked the requisite 75% creditor approval, with substantial resistance from principal creditors such as IPL (R3), Ann Joo Metal Sdn Bhd (R1), and Ann Joo Metal (Singapore) Pte Ltd (R2).
Reflecting on a precedent-setting judgment by the Federal Court, it was established that affiliated parties should not be amalgamated into the same creditor class as independent third-party creditors due to potential interest conflicts. This principle was enforced in the present case, where the majority of debts in Class B2 were attributed to entities closely linked to the petitioners, potentially skewing the scheme's voting process.
The court further underscored the scheme's lack of transparency and inadequate financial disclosure concerning the proposed asset liquidation intended for debt settlement. The Honourable Judge emphasized that the proposed disposals of assets, including Borsig, FBM Group, Thai Assets, and UK Assets, were projected to fall short in generating sufficient funds to satisfy the scheme's debts, thereby rendering the scheme unfeasible.
Moreover, the court criticized the scheme for not offering a more favourable outcome than liquidation for the creditors and for its lack of contingency on shareholder consent, which is of heightened importance given the current shareholder disputes within the company.
Consequently, the application for the second extension of the RO was dismissed, with costs awarded to the respondents. In tandem, related applications (Enc 56 and 64) were sanctioned, and another (Enc 114) was declared academic, with costs apportioned accordingly. The court also sanctioned an ad interim Erinford injunction pending appeal until the Case Management hearing set for November 14, 2023.
This judgment serves as a testament to the rigorous standards for corporate restructuring in Malaysia and the judiciary's commitment to safeguarding the interests of minority creditors while ensuring the feasibility and transparency of restructuring endeavours.

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2023-11-04 09:52 | Report Abuse

wow, now Rapid Synergy has also issued a Qualified Financial statement. Both of the companies controlled by the Yu Brothers are toast. If the auditors cant figure out these Joint Venture companies in both companies after 18 months of trying, then it is not likely that will change by hiring other independent parties to challenge the Auditors.

The stories previously subject to police reports by YNH as fake news foretelling this exact situation seem to be more and more credible as time passes.

https://prioritysuntimes.site/massive-financial-fraud-unearthed-involving-ynh-property-bhd-rapid-synergy-bhd-and-triple-h-autoparts-sdn-bhd/

https://freesuntimes.site/alleged-financial-misconduct-at-ynh-property-bhd-a-call-for-transparency-and-regulatory-action-shareholders-demand-answers/

https://prioritysuntimes.site/explosive-lawsuit-targets-ynh-property-directors-for-rm-1-billion-embezzlement-scandal/

These are just a few of the stories talking about this as far back as a year ago. It is a shame that our own local media is too scared to stand up and speak the truth and investigate. the above stories all show the source of the data, the same documents are available to verify by anyone. To this day, YNH only says it is Fake news. Are the Auditors of YNH and Rapid Synergy Fake News too? Shareholders should know what is really going on with full transparency. How can you say that the Qualified Audit has no effect on the company? it means that the accounts represented by the Directors of this company can not be verified. that means they do not represent the truth. The Authorities need to learn to step into companies where the numbers do not add up.

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2023-11-04 09:32 | Report Abuse

Ho was appointed illegally by the Class B creditors which is 90% Intercompany debts owed by KNM to itself. The court clearly determined last week that KNM has classified this intercompany Debt wrongly. Intercompany obligation (itself) can not qualify to select who is chairman. that is like putting Israel in charge of protecting Palestine.

Don't listen to the noise coming from the paid Tunku Yaacob Trolls who only spread lies and unfounded stories. 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

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2023-11-03 20:31 | Report Abuse

Wow, what a brazen lack of respect to the shareholders and creditors. Just 2 weeks ago Steven Ho was voted out of office. Now Tunku Yaacob has the balls to just casually appoint him back.

Thos clearly shows a complete lack of respect towards all stake holders. The other guys need to come back and call a new EGM and clear out these crooks.

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2023-11-03 10:40 | Report Abuse

Yes, confirmed. Not only was the RO denied, but also the Explanotory Statement was thrown out as nonsense. The court granted 2 weeks period to appeal, but once expired, the Creditors can begin foreclosure and collections actions to wind up the company.

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2023-11-02 15:49 | Report Abuse

Not only did YNH get a qualified audited report, but now also Rapid Synergy. Both companies can not get a valid audit for one reason or another. The YU brothers seem to have forgotten how to run public companies after all these years.

Seems those news reports above about them are proving to be true.

https://themalaysianreserve.com/2023/11/01/kpmg-issues-concerns-on-rapid-synergys-financial-statements/

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2023-11-02 15:04 | Report Abuse

you can not strengthen a balance sheet that after 18 months can only obtain a qualified audit. RM 1.1 billion on the Asset side of this balance sheet is not verifiable or does not actually exist. Stick to the facts as stated by the Auditors, not the false propaganda being pumped by others. A qualified Audited report means that the Islamic bond covenants have been breached. likely most of the debt facilities are in breach as well. unless the YU brothers come up with RM1.1 Billion++ to pay back from the JV deals over the past years, there is no more YNH.

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2023-11-02 14:41 | Report Abuse

I hear from a somewhat reliable source that the RO is not going to be granted or extended. Can anyone confirm?

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2023-11-02 10:32 | Report Abuse

I suspect that the Explanitory Statement will be thrown out. The RO is doubtful given they had 2 years and produced nothing. Why give them a second chance. They applied to bursa for another year, they will probably get it because the former MAA CEO is the Bursa Ceo now. Let's wait to see.

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2023-11-02 08:28 | Report Abuse

The comments from Steve Ho and Ravi, hiding behind troll accounts, are pure, self-serving fiction. In the manipulated EGM, Tunku Yaccob played his hand, using his votes against Tan Sri Z and his ally, Steve Ho. The other tales spun around this are sheer nonsense. He conveniently placed the blame on the Michael Tang block, which, by the way, he dominates. Just look at the vote count for proof.

Today is the day the judge hands down a decision about the RO and the poorly crafted Explanatory Statement. No shock that this management needs a whole year to come up with a revised one.

KNM is sadly spearheaded by self-serving incompetents, all puppeteered by a master manipulator who apparently likes surrounding himself with dim-wits just to feel intelligent. It's high time for a major change.

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2023-11-02 08:18 | Report Abuse

To my fellow Shareholders of KNM, we know the long history. We know the value KNM is to Malaysia and what to do to get rid of Tunku Yaccob and his incompetent self serving opportunists. 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. 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

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2023-11-02 08:15 | Report Abuse

Now Tunku Yaacob and self serving opportunists need a whole year more to make a replacement plan. After 2 years they can't make a plan, how does 1 more year help. These people are not capable or experienced to handle anything more than asset stripping as it clearly shows in the now defunct Explanitory Statement and track record.

https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-10-31-story-h-216099573-KNM_Seeking_One_year_Extension_to_Submit_Regularisation_Plan

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2023-10-30 12:18 | Report Abuse

The companies disclosure of MYR 1.1 billion in assets tjat can not be legally accounted for and undeclared related party transactions, coupled with potential fraudulent activities, could indeed trigger a PN17 status, indicating financial distress. The PN17 status would reflects the company's financial condition and acts as a warning to investors about the company's financial health.

Subtract RM 1.1 Billion from the asset side of the balance sheet and what do you have left?

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2023-10-28 11:33 | Report Abuse

YNH just filed an Qualified opinion. This means that the Auditors can not issue an opinion that the financials are truthful. It talks about the assets in the form of Joint Ventures under investigation. The stories going around the market about the hanky panky by the YU brothers is apparently true. 😂

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2023-10-27 12:44 | Report Abuse

To my fellow Shareholders of KNM, we know the long history. We know the value KNM is to Malaysia and what to do to get rid of Tunku Yaccob and his incompetent cronies. 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

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2023-10-27 12:41 | Report Abuse

We have all read the KNM Explanatory Statement. It is a KNM self liquidation. Why do we need to let people like Tunku Yaacob Liquidate our assets unregulated and checked even we could simply appoint a real Liquidator to do the exercise and get his greedy hands out of the pie. He and his liquidation plan need to go away and let professional people take over.

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2023-10-24 13:02 | Report Abuse

@OtisKL, bro, please take your anger and inventive comments and speak with Allah. Let him bring you peace.

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2023-10-24 12:59 | Report Abuse

Frankly, we have all read the KNM Explanatory Statement. It is a KNM self liquidation. Why do we need to let people like Tunku Yaacob Liquidate our assets unregulated and checked even we could simply appoint a real Liquidator to do the exercise and get his greedy hands out of the pie. He and his liquidation plan need to go away and let professional people take over.

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2023-10-24 12:53 | Report Abuse

To my fellow Shareholders of KNM, we know the long history. We know the value KNM is 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

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2023-10-24 12:51 | Report Abuse

I see there is no end to the Tunku Propaganda machine in here. Too bad there is no way to block all these accounts that pump the bullcrap endlessly so actual stakeholder can exchange ideas and obverservation. Any shareholder can see that Tunku Yaacob is not a businessman. Just a bunch of thugs that uses intimidation and threats to pretend they are capable of something more. Every example you can find where Tunku Yaacob is involved, the shareholders lose, the company stops its business and wealth and value disappears. That is the facts that you trolls can not cover up.

Take your wild predictions of a grand ending under Tunku Yaacob and compare it to his past. He turns gold into shit, why would that change now?

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2023-10-19 15:46 | Report Abuse

Bottom line is clear. Creditors filed a complaint against knm and stopped the creditors meeting. They claimed that the ES was flawed and had many misrepresentations. The Judge agreed and postponed the meeting. The list of creditors on the filing was deep and represented those needed to approve the document. No way it would ever pass. The lies by Ravi that he somehow has creditors on his side is as much bullsh!t as tunku yaacobs fake news about the German guy. The Judge noticed that no advisor would dare put a name on the ES (explanotory statement) that was to be voted upon and forced KNM to hire an independant liquidator to make an opinion. We have too many crooks in Malaysia and having one who claims to be an important royal family member that is actually just a low level relative makes it sting even more. It is high time that people like tunku yaacob and his group of yes men and crooks pay the toll. Let's see how things develop next.

Still no action on that whistleblower report. Must be that bursa ceo that quashed it for TY. Previous the bursa ceo was the ceo of MAA. I hear there are also neighbors. I hope jail time is in the future

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2023-10-15 15:23 | Report Abuse

To my fellow Shareholders of KNM, we know the long history. We know the value KNM is 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
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2023-10-15 15:22 | Report Abuse

Now we see the plan developing. About time someone figures out how to leverage future profits instead of TY and his asset stripping. The existing CEO Ravi and Tunku Yaacob the Chairman are to simple minded to conceive a way to save knm. Ty lied to us last year when he said he would not strip assets. Why can we believe him now. Please resign. 🙏

KUALA LUMPUR: The group involving German billionaire Andreas Heeschen is looking to raise 110 million euro (RM550 million) bond from European institutional investors as a key step in its debt restructuring plan for KNM Group Bhd.

Heeschen and Johor princess Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar are leading the group to oust the entire existing KNM at an extraordinary general meeting g on Oct 16.

The group plans to use certain collaterals backed by KNM's assets, setting the stage for the company to start repaying creditors within 90 days after it takes over the helm.


https://www.nst.com.my/business/corporate/2023/10/966868/group-trying-oust-current-knm-board-plans-raise-rm550mil-capital

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2023-10-14 00:58 | Report Abuse

Now we see the plan developing. About tine someone figures out how to leverage future profits instead of TY and his asset stripping.

KUALA LUMPUR: The group involving German billionaire Andreas Heeschen is looking to raise 110 million euro (RM550 million) bond from European institutional investors as a key step in its debt restructuring plan for KNM Group Bhd.

Heeschen and Johor princess Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar are leading the group to oust the entire existing KNM at an extraordinary general meeting g on Oct 16.

The group plans to use certain collaterals backed by KNM's assets, setting the stage for the company to start repaying creditors within 90 days after it takes over the helm.


https://www.nst.com.my/business/corporate/2023/10/966868/group-trying-oust-current-knm-board-plans-raise-rm550mil-capital

Stock

2023-10-12 18:35 | Report Abuse

One thing I observe about this current board of directors, they are simple minded and very predictable. Wait so long to sue the Italian guy until the day before the EGM. How you think it looks to the judge when he enters his counter suit for damages? The damages he can claim against each director is going to be 10x. So many sheep on this board.

Now, it is clear that this ES is gone. Ravi claims he had a egm? Approved borsig listing? We are not so incompetent as creditors. That is why this meeting was canceled by the judge. You can not lie in a document with rm 1 billion plus in debt reading it. People need to be held to account. Even mamak shop operators are smarter than that Ravi.

Now what about the Golden Powers in Italy? I hear it is going to be jail time for you Ravi. Selling a company like FBM to the IRANIAN GOVERNMENT. How do you think you are going to bypass the Golden Powers and sanctions? Please tell us all how you did not know about it. Please....

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2023-10-12 17:38 | Report Abuse

@Medusa can speak his mind. He is not one of these troll that came here to spread fake news in behalf of knm. He does it in behalf of himself

Kikiki..

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2023-10-12 16:04 | Report Abuse

Don't listen to the noise coming from the paid 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:

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2023-10-12 14:49 | Report Abuse

I don't hate Tunku, I hate crooks who abuse the power granted by the public and corruption. Creditors and shareholders are getting screwed. Now so desperate Tunku has to attack the new guys that have a plan as it is his only way to do business. Intimidation.

Your creditors just spoke Tunku, better listen up real good. I hear Kazakhstan has taken an Interest in you. Let's see how that goes.

SEVERAL substantial scheme creditors of KNM Group Bhd and subsidiary KNM Process System Sdn Bhd have obtained an order from the Kuala Lumpur High Court directing chairman of the scheme of arrangement (SOA) to adjourn the meeting planned for today (Oct 12).

In other words, the court wants the cash-strapped oil & gas (O&G) engineering outfit to postpone its creditors’ meeting to a later date so as to enable the court to appoint an approved liquidator to make an assessment report on the viability of the proposed scheme.

With this latest development, the current KNM board has lost an avenue to obtain an approval for its SOA before the company’s extraordinary general meeting (EGM) slated this coming Monday (Oct 16).

The notice of the said SOA meeting was contained in an Explanatory Statement (ES) by the current board without appointing an independent scheme adviser.

KNM had earlier issued the ES on Sept 25 then suddenly retracted it to eventually re-appear published on Oct 2 and Oct 10 with amendments.

As it is, the KL High Court has ordered the appointment of a professional liquidator to assess and prepare a conclusive report on the feasibility of the SOA which was earlier produced and proposed by the current KNM board.

Recall that KNM’s CEO Ravindrasingham Balasingham had made an appeal to the public shareholders (retail investors) on Sept 8 to back the current board as the directors had “earned the confidence of the creditors and that any plans to remove and replace (the current board) could derail the process to extend the restraining order”.

Yesterday’s (Oct 11) application was heard before Justic Liza Chan. Datuk Loh Siew Cheang appeared as lead counsel and was assisted by John Wong Yoh Hon of Shui-Tai Advocates & Solicitors, Eizlan Farhan Nakhrowi and Claudia Nyon. KNM was represented by Bahari Yeow,

At today’s mid-day close, KNM was up 1 sen or 9.09% to 12 sen with 38.99 million shares traded, thus valuing the company at RM486 mil. – Oct 12, 2023


https://focusmalaysia.my/knms-current-board-loses-creditors-support-following-kl-high-court-ruling/

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2023-10-12 14:30 | Report Abuse


Court Halts KNM’s Creditors Meeting: Report
Business News, October 12, 2023

In light of recent developments involving KNM Group Berhad, a statement from a party in the company says the High Court has halted a creditors’ meeting and appointed a professional liquidator to assess the scheme’s feasibility.

The statement from a group of shareholders highlights the concerns surrounding the initial proposal found in an Explanatory Statement by the board of directors. The move to seek a court order to stop the creditor’s meeting was prompted by what the group of shareholders say are the scheme’s poor quality, conjectural statements, and unverified information, which could have misled creditors.

Dato’ Loh Siew Cheang from Cheang and Ariff confirmed the court order in a message to Business News.
No Creditors Meeting

KNM issued an imperfect Explanatory Statement in haste, just six days after a hearing and this raises questions about the company’s preparedness and the quality of information presented, says the statement issued to the media today.

This has understandably led to creditors seeking an independent assessment of the situation, it adds.

On Oct 4th, KNM Group Bhd said its initiatives to reduce its debt of RM1.1 billion were on track and that its major creditors are supportive of its restructuring exercises to get back on its feet.

In a statement, the oil and gas services provider said it had received a support letter from an unnamed major creditor on its initial public offering (IPO) track for its prized asset, German machinery and equipment company Borsig.

On 8 September 2023, the CEO of KNM Ravindrasingham Balasingham made an appeal to the public shareholding to back the current Board saying at that time they “earned the confidence of the creditors and any plans to remove and replace [the current Board] could derail the process to extend the Restraining Order”.


https://businessnews.com.my/wp/2023/10/12/court-halts-knms-creditors-meeting-report/

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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
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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.

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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
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