Whatever said and done:-
1. 2 ex executive directors case management is next week, since its in the courts, time will reveal the truth to the public. "Setinggi Tupac melompat, akhirnya jatuh ke tanah just." Bertaubat lar, Tuhan akan memaafkan hambanya yang bertaubat Dan mengharungi jalan yang sebetulnya. Amin."

@KimChun31, hiding behind new usernames ain't going to change anything, more so fallen Lucifers returning to work. Just go get a life... do shopee or grab instead repeating the same old stories.

@MacDee34, how come you get 1st hand misinterpreted information when we all know the puppies and lickers will not even swing one bloody directors of the KNM Chairman?
We all know who was the law firm purportedly representing the creditors Free of Charge and we know too who are people instigating them, just trying to proof God know whatever had disgruntled about. Fallen Lucifers are bygone, please let it go and move on. Dreaming of lavish dinners on company's account, 1st class flights, golfing at expensive resorts, will never come back. Lord Shani has been residing on top of the heads, so be humble and carry on life whatever leftover. God bless you.

@MacDee34, oh, you are back, glad to see you here. It's been so damn quiet here without you. So, how's life? It's been raining every evening, so it's nice to take a nap...

@Kimchun31, thanks for the information, good insights. Have you google the history of MMM prior to writing your comments here? Please tell me how Ravi made MMM drown when the period from his resignation and MMM entered into PN17 were 3 years? Why was Tunku Yaacob not listed as a director if he was controlling the company?
Malaysian Merchant Marine Berhad
Date of Appointment as Managing Director - 8 Feb 2007 - Ravindrasingham Balasingham
Date of Redesignation as CEO - 17 April 2007 - Ravindrasingham Balasingham
Date of Resignation as CEO - 1 November 2007 - Ravindrasingham Balasingham
Date of MMM coming into PN17 - 9 March 2010
Date of Bursa KL delisted MMM - 17 March 2011

Did anyone read the below article on corporate governance? It's an interesting article as the defeated group questioning the transparency of corporate governance in KNM. Its a valid question alright, but I wonder, if the Voting system is managed by one independent party, then it's being audited by another independent party, whereas the KNM management involvement not sure which part they played. Now, even I want to know if those independent parties are really independent and transparent, how does it work. How Bursa KL monitors on such activities?

Having said that, my condo-mate told me once the story of Ramayana, where Sita, who was rescued by Hanuman from Ravana's fort in Sri Lanka, upon meeting Rama for so long, but Rama didn't even look at her. Sita was devastated because Rama doubted her chastity as she was in another man's fort. Rama's brother, Laksmana built a pyre and lit fire. Sita in deep sorrow walked into the pyre, but Fire God did not burn her to ashes, instead she stood vibrantly glowing, because she was pure. Moral of the story is, corporate governance is a very delicate matter, it involves, dignity, honesty, transparency, truth and fairness. When a party accuses another party of cheating, fraud, etc, although it could be fought with defamation suits etc, that's not the issue, the issue here is the sanctity of the company, the material and perceived consequences, and impacts it will bring to the investors, to the creditors, to the customers, to the authorities, etc. End of the day, even if the party succeeded its mission, the sanctity of the company is gone. "Unless you lick what you have spit..." Does it have to be such harsh ways to prove a point? Is it worth the cause?

https://www.msn.com/en-my/news/other/corporate-governance-in-the-spotlight-knm-group-bhd-s-contentious-egm/ar-AA1ijrjC

WOW, so quiet in here already after the big storm yesterday. Share price stagnant, volume so low. Emm, maybe another counter more happening? MYAirline.my owner's counter? Or Astro's price diving stunt? better go fishing lar... hihihi.

Even the Company Secretary was found at fault when some questions raised were disregarded as irrelevant, I am sure she has her reasons for declining those questions not pertaining to current resolutions related topics. Company Secretaries are professionals, they handle hundreds if not thousands in their portfolio. How on earth such silly thing can become an issue. Any shareholder for that matter always write in to get written answers from the company, as simple as that. Aiyoo, grow up lar, we are in AI era, even a software can give answer to any question.

She also raised concerns over five submitted live questions that were deemed irrelevant by the company secretary Lily Yin Kam May, who also serves as the company secretary for MAA Group Bhd. 

The questions were disregarded prior to voting on the resolutions during the EGM.

https://www.google.com/amp/s/www.nst.com.my/amp/business/corporate/2023/10/967817/knm-shareholders-retain-current-board-defeated-group-led-german

They will find faults in every step the board makes, create obstacles, provoking and instigating others all the way till the AGM, then till next AGM, and another EGM, EGM, and EGM, in the end entangled with suits after suits and counter suits... sigh, some people just don't know how to accept defeat and move on, try luck somewhere else lar 😕 costs of flights, accommodation, legal fees, food, etc etc etc, just because of ego.

@investkl8, yes, all is well. Shareholders have spoken their minds, the board has received a renewed mandate from shareholders. Alhamdulillah.

Now, the board needs to deliver whatever is planned for the company. We hope to see share prices strengthen to its true value (as long the opposing party doesn't go on a dumping spree in revenge), and uplifted from PN17 status. Have strength and hold on until Borsig gets listed, insyaallah, everything will be fine.

@maxwin69, thanks a lot for the clarification, truly appreciate it. Now, I can summarize my thesis for submission, as my conclusion and the results are similar, which is good. Malaysia team, yay!

@maxwin69, oh i see, means although the removals were done, but nobody was voted in for the vacant positions, can I conclude that?

@sonyx123, ah, I was wondering why there isn't any resolution to vote in but 2 new directors as mentioned by few people here that it's confirmed those two new directors are in.

@signn, is it confirmed that the 2 foreigners voted in? By whom nominated? And seconded?

@maxwin69, yes, the an inspiring song from Namewee, "...the world has demons in all shades of colours including purple, so be careful..."

@maxwin69, hope the company survives to secure alot of Malaysian families rice bowl depending upon how the results turn out to be. Happy voting...

Financial data don't lie on the company's wellbeing in terms of its financial capacity to be sustainable in the long run. Well, this is exactly what my studies focused on too. The current board was established less than 1 Yr ago, mopping up shits left by the past board. How could the current board blamed for mishaps that KNM experiencing now? Seriously, if KNM goes backwards to reelect past board again, the choice in the hands of over 34 thousand people and institutions, please vote with your conscience what is best for all shareholders, be it substantial or minority shareholders.

@UpUpRocket, very fair comments. There are a number of studies done on KNM that many don't look into the details, in KNM all the mishaps triggered started back in 2020 itself to make KNM as where it is now at PN17 status. Even shareholders rejected the past board headed by Mr Porro to raise fresh debts.

https://www.linkedin.com/pulse/moodys-analytics-knm-group-bhd-case-study-gabriel-seow

Alternative Score captures Moody’s Analytics Credit Sentiment Score (CSS). The CSS is an AI based risk indicators capturing negative news sentiments which can explain credit risk deterioration. The higher the score, the more negative news are being captured.

 »     KNM Group’s CSS first spiked in Feb 2021, then later in May 2021 after a first attempt to raise debts was rejected by shareholders.

»     The CSS also picks up the more recent news capturing the default on a THB issued bond’s principal and coupon repayment.

@Auntylee, you can check if your mail put it into junk 📂 otherwise wait until tomorrow to check with registrar.

@UpUpRocket, only lovers attack individuals, because they lack of materials and valid facts to back their rethoric stories. When the foreigners team issues RM600mil shares if they succeeed to takeover, only then these losers will learn their lessons. And those fallen Lucifers hopeful of getting jobs back will know how they were being used.

It doesn't matter who I am, and I recall a French saying, "truth will prevail in the end no matter how evildoers holding on falsehood." And my support to the Malaysia 🇲🇾 ❤️ team, now and always. Merci... 0

Their guessing game of who am I, making them to pull their own hairs whatever left over due to aging. Although I am categorised as supporter of the incumbents board, its on blessing in disguise, although I am merely an outsider while doing my thesis found so many backstabbing by their past management 😅 they themselves didn't know their enemies are within themselves, 😉 how could they be so blinded when their own people leaked? So-called reliable and trusted alliance... the current board should dig to their graves all the wrongdoings happened the past 3 years and bring to justice.

@UpUpRocket, some losers having suspicious mentality due to inferior complex. Whatever they did to oust the Lee family and their team will get the fair share of karma, until even LRT rides will become luxurious in time to come. It will come and bite them for not being grateful and thankful 🙏
Moreover, they have declared lost so quickly even the battle day not even have begun. Shameful people...

TheEqualizer, you being a senior in the forum, has similar thoughts like mine, any logic and practical thinking people will conclude it.
The creditors postponed court convened meeting is a miracle in disguise for the current board, otherwise the aspirants board will just cart away all hardworks of the incumbents board, top it up with shareholders dilution, get creditors haircut, bundle Borsig with Eur100mil private placement bond, then push the car into the drain.

End of the day, those MALAYSIAN leaders and decision makers that think Westerners whom are superior than Malaysian locals to lead a Malaysian business still being colonialised in their brains.

Some people here with selfish motivation only call others illiterate or scammers or fraudsters, but they themselves are the real theives to slaughter and cart away monies.
With all these vengeance induced culprits, there are thousands of local Malaysian families and children depending on KNM employments, and thousands others whom are support contractors of KNM depending on that little business to feed their families.

TheEqualizer, the private bond of Eur110mil with Borsig as collateral is the answer! That private placement is his team who will conveniently default and take away the collateral that's worth Eur300mil. 😉 RM600mil of new shares, will dilute everyone and share prices back to 3sen.

I think rather than letting the new board to kill the creditors, the creditors just go and secure your interests.

The current board is assuring the creditors will get 100% their money back, secured or unsecured both. And Borsig get listed not to be outright sold or mortgaged.
Moreover, minority shareholders don't get diluted by RM600MIL wei as the aspirants board finally highlighted.. you hold 10 lots, it's going to be worthless.

There you go, Mr Heeschen's plans as predicted, appeared in FMT:

"In a statement issued by Heeschen and shareholders seeking the board’s removal, the group proposed to issue a €110 million (RM550 million) bond to European institutional investors.

“We will use certain collateral of KNM’s assets and begin paying back creditors within 90 days of taking over the board.”

After the bond is issued, they said a shareholder capital increase estimated at up to RM600 million will be placed.

1. All minority shareholders get diluted with issue of RM600mil shares...
2. Strategic and profitable business that will be used for Eur110mil private bond is Borsig. So, Borsig now goes for Eur110mil to a "private " party...😅🤣😂

https://www.freemalaysiatoday.com/category/highlight/2023/10/13/heeschen-questions-knm-boards-singapore-ipo-plan-for-borsig/

@i3lurker, thanks for your comments 🙏 At least you could identify what's a failure means, because you just couldn't come out of it. Rot there mate, and be well. 😋

@Felix999, yes, agreed with your comments 💯 percent.

@i3lurker, Emma, at least I learn that there are sadists in the share market too 🤣😂 best part is there are followers of such people. 😂🤣 what kind of world is this... anyway, you enjoy whatever you do best. Cheers mate. 😘 let me finish my thesis, I need to submit to my invigilator this Monday as final draft before proceeding to next topic.

@i3lurker, you just suspicious, we'll, details were given to me and highlighting what's real doesn't give you any information about who I am, and its doesn't matter who I am, only matter to me is my money and my shares in KNM. That's all.

@i3lurker, absolutely, you do not need to read anything that I write, no problem 😊 facts will not derail, only "human perception" manipulate those facts for whichever it benefits. 😉

@i3lurker, well said. Thanks mate.

@EatCoconutcanWin, you are correct in your analysis, an European billionaire sure got a couple of Euro millions to spare for KNM, why being petty 🙄 Tunku Yaacob has Ringgit millions and he plowed into the company shares. Compare who is more serious of the company? Tunku Yaacob stands to lose so much by himself alone than any of them collectively.

@TheEqualizer, spot on. I did ask the same question earlier, who is lending him 200mil shares to come to Malaysian soils to challenge our Malaysians?

@Adagold, thanks for sharing the article, truly eye-opening one. @MacDee34 was saying the aspirants board will not see asset, but clearly Mr Heeschen declared otherwise, he will strip assets of the company, excerptof the article below:

“The reason I’m here is because this got to change. It’s a good company, it has great portfolios. We need to sort this out. This is not a hostile takeover. This is a request from shareholders to change what is going on,” he said.

On their part, the current KNM team plans to list Borsig on the Singapore Stock Exchange, with plans said to be underway.

Heeschen did not rule out sale of assets should he and the alternate team are successful in taking control of the KNM board, adding that they do not have enough information on the company to make the call at this juncture.

@Adagold, IPOs are not assets stripping activity, its unlocking fullest potential of a particular organisation. The incumbents board has more affirmative plans to make KNM a debt-free company, rather than still indulging in larger debts covering the smaller debts, excerpt of the incumbents board:

The statement also said that aside from Heeschen, ‘all other aspirant directors are not shareholders of the company, and therefore stand to lose nothing if their turnaround plans fail.’

On the contrary, it said Tunku Yaacob as an indirect substantial shareholder and chairman, will push through the company’s strategic plans to ensure KNM is profitable and debt-free in nine months.

@TheEqualizer, you are sharp reader, otherwise you won't be in the share market. Spot on 😊

@Za1234, oh yeah, MMAG is 1sen... Nice leh. Few others also attractive, Komarkcorp is 4sen, and SMTrack is 2.5sen.

@dawneagles, you are absolutely 💯 right. This KNM counter is where anchovies breeding pool. Bilis in tons, mostly swallowed up by sharks. So have to smartly swim to survive being small in nature.
New board may abort Borsig listing, do a loan with Borsig being collateral, to raise funds. Cancel FBM sale and try to list it. Bring in new partners into Peterborough and Impress projects by doing collateral too. These will stop bleeding for very short time. Then, as time passes, all get defaulted and whoever extended the loans get to keep the collaterals. KNM itself doesn't have its own strength to generate enough earnings to sustain itself, won’t have the capacity to improve its revenue pools due to overly competitive market its in for its products. Easy work 👌 This my sole prediction based on the published articles on 5year plans.

It will not be in KNM best interests to do outright asset/project disposals at this material time, given the fact that all the world's recession cycle almost near, and if crude oil prices continue to go higher due to Ukraine war for another 2 years, volatility in fuel prices, pressures due to ESC issues, increasing number of countries banning fossil fueled vehicles into the cities, and so many other factors like steel prices increases, etc etc, best decisions and proactive moves expected from the board and management, rather than deliberating on past ideas that doesn't work.

@UpUpRocket, good day to you and rest of KNM fans.

I quickly did a research on Borsig strengths and weaknesses as well as challenges and opportunities based on available materials. Looks like Borsig has other expertise in the company that can be tapped. I was focusing on what if " salvaging Waste-to-Energy Petersborough UK project via Borsig by injection of this asset prior to IPO and revive the project to open up its real value. This way, Borsig footing on diversification is materialised as well as kick-start WTE project that will give better chance to survive for KNM. Its fairly viable to execute without much obstacles, rather than outright disposal of it.

Another white elephant of KNM ie Impress Ethanol project. It happens to be that it's cassava farms has export agreement to China. Its will be in KNM benefits to dispose part of its shares in Impress group to this China company, bring them as business partners to kick-start the business. China partner has readily experts and able to revive the project almost immediately. China and Thailand has no political conflicts hence it will boost tripartite relations.

@UpUpRocket, money notes are printed using plastic, so it changed from the jungle to the ocean. 😁 okay, jokes aside, thanks for the advice, Sir. I am grateful and thankful to communicate with experienced and knowledgeable people. In universities, people are becoming stingy with knowledge...

It is scary to note such high level scales of scams and frauds like our 1mdb, and recently in Singapore that's digging massive fraud transfers etc. Its never ending. Thanks again. 👍

@UpUpRocket, in this sense, the HR dept plays pivotal part in ensuring honest and reliable people to be hired and continue to monitor and groom the manpower to be a credible team. Based on the records materials, few people climbed the corporate ladder too fast, with the trust put by the Lee family on them, in the end the Lee family themselves got ousted. I stand to be corrected (for academic purposes only) I am sure the Lee family has their own loyalists tested through time for their diligence and credibility, why audit committee or external auditors didn't raise red flags when coming across discrepancies or misinformation? Credible outsourced internal auditors like Deloitte or many others may be needed to counter balance the company operations. Or the company gets certified ISO certification and get audited periodically.

@UpUpRocket, oh I see, now it's crystal clear, without proper forensic investigation to find hard credible evidences that can withstand in the courts, otherwise prima facie case pulak. The independent forensic auditors must have hard times digging documents on global scale as KNM subsidiaries are far away.

@UpUpRocket, I like your way of referring the Tengku girl.... 😃😁😀

@MacDee34, you are correct. Wonder why waited from December 2022 until October 2023, 11 months to take legal recourse against the culprits. Anything more than 6 months lapses has not much credible motivation to pursue it. KNM should breach the breakup fee pymt and instead initiate such legal recourse then. Well, its not too late to take that direction, however "human perception " may lean on the point of "selective prosecution" factor, coincidentally the boardroom tussles ongoing. Whatever it is, intentional wrongdoers must be penalised by the courts.

@UpUpRocket, oh I see. Okay Okay, now I get it. When Bekir Taib or his nominee votes, the screen won't show whom he votes, correct? Only tabulated percentage of in favour or against a particular resolution. Well, I am greatly confident someone enticed him to buy the shares, whoever brought him in will have his votes in favour 😉 we can reckon who that shall be... only results will speak out lauder, Bekir Taib won't issue statement to create rifts among his powerful 😎 friends, he is a businessman after all, decorum prevails.

@AnonymousJr, thanks for your insights and constructive comments, very refreshing and very useful 👍