@macdee34, based on your comments whether the current board has depth of knowledge to differentiate between a compressor and a bottle, is irrelevant. Hence the hired engineers and experts running the operations.
Look at the proposed new board lineups. Please point who has O&G background? The proposed CEO was a banker running a construction company. Mr Heeschen is a businessman. Most of them are in IT companies totally unrelated to O&G. Mr Porro gained his O&G experience while in KNM, nothing more to put on the table. He was put for re election, he flopped big time.
If the new lineup comes from credible Shell or ExxonMobil or Total Energies or at least Petronas, then, its an intellectual fight.

@ragrag, based on notice of EGM, the cut off date in October 11th. But upon share purchase, your name needs to be registered with the Registrar. If you are buying via a nominee, chances are slim your name will be registered so soon, as it takes 7days to take effect.

@dompeilee, looking at your comments, you are old-timer here. Your comment is fair, coming from an experienced person. Nobody will do charity to buy bulk shares almost instantly to take control without ulterior motivation, that's a nature of Corporate people. Same goes to the past, current or new board. To what extent these motives affects the well being of the company that remain to be seen. As long as the board safeguards the minority shareholders while not killing off the golden eggs laying geese, robbing in daylight, that should be penalised.

@macdee34, if newbies aren't allowed to comment, what makes you to be superior among the rest to comment? One time before you were newbie too, please remember that. Anybody got to start somewhere, these people knowing current board capabilities, bought shares into KNM. I am annoyed with your stereotyping commentators here, its their opinions, whether we accept or not, it's individual rights.
Moreover, now I wonder why all your comments posted here only regarding KNM? I am sure you are a capable person in O&G. Somehow, your "human perception " seems to be anti Lee family.
The Lee family founded the company, and established what it is today. Since 2016, based on annual reports since 2017, a few key managers that joined the company in 2016, had consequences that what it is now. Based on your comments you sounded one of disgruntled persons that fallen off the ladders of KNM.
Just because the current board sided and upheld Lee family doesn't make them bad people.
Mr Porro was put to re election during December 2022 AGM, he was booted out miserably, those booted out need to accept the fact that they are no longer needed in the company. Just move on...

@Macdee34, good evening. Hope you are in best of health.
Thank you for sharing the article on the press conference, finally they have come together to present their side of points, which is good. Mr Heeschen in the article looks positive as compared to the rest sitting there looked tensed. Anyway, we wouldn't know what was discussed during that time when photographer took the picture.

Question: During the past AGM, Mr Porro was Voted Out and not re-elected to the board. Mr Porro initially resigned from the board too. What actually transpired during the period? What will make Mr Porro be re-elected this time round?

*Analysis of Past AGM Polling Results* (for academic purposes only)

GENERAL MEETINGS: Outcome of Meeting
KNM GROUP BERHAD
Type of Meeting General
Indicator Outcome of Meeting
Date of Meeting 13 Dec 2022
Time 10:00 AM
Venue(s) online meeting platform at https://meeting.boardroomlimited.my
as provided by Boardroom Share Registrars Sdn Bhd
Malaysia
Outcome of Meeting The Board of Directors of KNM Group Berhad ("the Company") is
pleased to announce that all the Ordinary Resolutions except
Ordinary Resolution 1 as set out in the Notice of the 20th Annual
General Meeting ("20th AGM") dated 14 November 2022 were duly
passed at the 20th AGM of the Company held earlier today.
The voting in respect of all the resolutions was carried out by way of
poll, results of which was validated by SKY Corporate Services Sdn
Bhd, the Independent Scrutineer appointed by the Company.
Details of the results of the polling in respect of all the resolutions at
the 20th AGM is set out below.
Voting Results

1. Ordinary Resolution 1

Description: "To re-elect Mr Flavio Porro who retires pursuant to Clause 113 of the Company's Constitution"

Shareholder’s Action For Voting

Voted. For. Against
% of Voted Shares. 3.7% 96.3%
Result: Rejected

@The Rock, this tussles should not have gone this far. If the dissatisfied group has better things to offer to the company, they could have done differently, like volunteering themselves into the board, and collaborate with the board to turn around together. Throwing off the whole management and board is totally wrong move to start with.
Why would an unknown party suddenly buys Block of syndicated shares overnight to claim ownership and authority to manage a company owned by 35K other owners that's been there for ages? So, shocking, uncalled for and disruptive, if this is not named "hostile" move, then what is it? Is it love for Malaysia and Malaysians? Which I personally doubt it, correct me otherwise please. Best thing to proof is, offer an interest free "shareholder advance" to settle defaulted loans, debts and bonds, as well as a blueprint of the company 5year plans.
Coming into a company while drawing director fees, offering advices how to monetise or incur more debts, isn't a sincerely good service.

@The Rock, everyone can vote provided they own the shares and successfully registered into their name. Then, go to registrar of stocks register, get yourself registered if first time and don't possess an account. It's a bit tedious like registering a Grab account. You need your home identity card, passport, your share ref numbers, an active email address, mobile numbers, and yourself, step by step procedures. Go to KNM Group website, download the EGM notice and administration notes, tells you in great detail.
On registered, you can vote for any online general meetings, including now KNM. On Oct 16th, login using your username created, and just like Zoom, raise hands, pose questions, etc. And separately you can login in the register to vote what you shout vote by resolutions. Vote in favour or against. So READ the resolutions first, don't vote wrongly either due to misreading Hahaha 😁😂🤣 most often people get mistaken. 😉

@The Rock, I can sense your feeling of yearning belongingness with the people living around us. It can be any race for that matter. As far as Germans are concerned, I guess their long history of wars, deprivation, starvation, competition and discrimination, coupled with difficulties in lives and living, made them resilient and reserved, try "marrying" into their families, the world of difference awaits you. Otherwise, come to Basel, Switzerland, here there is an area of 3 different cultures in 1 city! Only thing is everyone moves slower than the outside world. My second home of Paris, will not go wrong either. Full of colour, coldness, and privacy. Get to know Parisians and you will discover world of beautiful things that we neglected all these while living in Asia.

Finally, one personal question that's disturbing my mind for some time. Sorry if touched moral or religious elements. (Just for academic purposes only)

The volunteering shareholder is a wealthy person but his leadership in dealing with arms, grenades and guns, all boils down to "blood money". Malaysia advocates peace and World free of killings. How would such money becomes halal or ethically be used in KNM? Even proceeds from sale of cigarettes, alcohol, gambling or even pork items already have differing opinions among most Malaysians. How would minority shareholders of Malaysian origin will take this "indecent marriage" proposal? I know its very narrow thinking but addressing it will remove fearsome mentality and instill acceptance of such "blood money".

@CyrusQ, thanks for sharing the article. It brings back to my queries- what are the collaterals to undertake such new borrowings or debts? The only available entity is income generating debt free Borsig, so pledging Borsig shares to obtain loan? Okay, what are the backup arrangements as financial risks mitigation plans? Interest rate in Europe is record high 4.5%, inflation at 9.9%, how are they going to mitigate such high variables?
Pledging company shares as collateral for loans or other obligations carries several primary risks, including:

1. **Loss of Control:** When you pledge shares, you may lose some control over the company, especially if the lender has the right to vote those shares or take ownership if you default.

2. **Default Risk:** If you're unable to meet your loan obligations, the lender can seize and sell the pledged shares, potentially at a lower price than their market value, leading to financial losses.

3. **Market Volatility:** Share prices can fluctuate significantly. If the value of the pledged shares drops, you may be required to provide additional collateral or repay the loan, which could be challenging.

4. **Margin Calls:** If the value of the pledged shares falls below a certain level, the lender may issue a margin call, demanding additional collateral or repayment. Failure to meet this call can result in forced liquidation of the shares.

5. **Lender's Actions:** Depending on the terms of the agreement, the lender may have the right to vote your shares or take other actions that could affect the company's direction.

6. **Legal and Regulatory Risks:** Pledging shares may involve legal and regulatory complexities that could lead to disputes or complications.

7. **Dilution Risk:** If the company issues additional shares, your ownership stake may be diluted, potentially reducing the value of your pledged shares.

While I was going through the opposing party's vision, and strategies, although they were not in great detail, both Mr Heeschen and Mr Porro gave assurance that its "business as usual" after EGM, until a time if deem fit to do adjustment. So, my mind keep wondering:
1. Assuming a new syndicated debts to takeover old debts arranged facility in Europe. What's the collateral for this exercise? Available assets of losing entities and Borsig shares pledged? form of financial risks mitigation plans that should be in place provided the minority shareholders interests safeguarded? A backup payment plans to this new debts?
1. If business as usual, then why calling EGM, spending money, creating uneasiness and demoralised among creditors, clients and employees, when POKET TARAK DUIT LOR MAKAN SUSAH, dude? Better use that money wisely for the betterment of the company instead.

@doubleup, based on your information and research materials that I gather so far, Yg Mulia Tunku has solid corporate background, and his involvement in the O&G and Banking have more weights and acumen if I say. Although his family business in insurance which they had disposed I think 🤔
As Yg Mulia Tunku laudly said it, Bring it On! Well, Malaysia team win win win... !

@maxwin69, holy sh** biar betul nie?!! Evidence of police lodgement doc won't tell lies.
As my personal principles which I remind myself at all times: "Never 'bite' the hands that feed you " - whether its betrayal, lies, slander or stealing and not disclosing although knowing it or covering up.
If a lawyer cum board member didnt disclose the exit & severance clause content, EITHER he is a RETA**D of highest order OR his standard practice to receive self-gratification benefits doing work.

@haziqaz, thanks for sharing the article. Based on the report, those proposed directors are mostly from public companies appearing frequently in the Top Loser counter listing, share prices are 2sen or 3 sen around there. How would these directors will contribute towards the turnover of KNM? Sorry, I didn't research or have research materials on those companies, something seems not rightly here. What shall it be? Will KNM back into its mediocre share prices if the new board walks in? Or is it KNM will materially give synergy to their companies?

@Dawneagle, whatever it is, my support for Malaysia, as I am Malaysian first. But it got to be level playing game, ▶️ and generally non existence in the corporate 🌎

If Borsig listing presentation by I assume by investment bankers next monday as above stated, creditors giving confirmation on October 12th in articles, I feel the current management will continue as it is. Malaysia team will have a clean sweep then. Then, all these tussles and "human perceptions" targets the share prices to escalate? FV shows 38sen, eventually it will reflect in the share prices, what can we learn from this?

@doubleup, if I ever get the chance to rub shoulders to get favours, perhaps I would seek a chance to work for Borsig Germany and learn & experience working with brilliant minds of engineers. My parents always keep reminding me that "everyone around us can and may take away everything including the drops of water available to drink, but nobody can take away the knowledge and experience from us." It has very deep meaning to it, so that we are equipped with knowledge to survive and consistent & disciplined to achieve whatever we aspire ❤️

@doubleup, lucky you having the invite for the 1st hand hearing of Borsig listing presentation. Later, please do update us, 👍 most people here don't get the chance to rub shoulders like you to get direct invitations, so don't be stingy of sharing them if it's possible, unless there are terms prohibits it, better avoid, I don't want anyone be in trouble, alright.

@purple70, cool 5 years in this arena. About "newbies", the way you describe it so hilarious 😂 let it be, I guess everyone got to start from somewhere... sounds like "nah 1 ringgit, pergi main jauh2".

Chivas Regal whisky, great blend of drink, used to be my favourite 😍 no longer drinking due to practising yoga and meditation 😊 In Sweden and Denmark, there are aplenty centres that teaches Sanathan Dharma and ahimsa.

@doubleup, I like your confidence ♥️ a true Malaysian. 👍 good to see KNM to become strong 💪 and be the proud Malaysia brand, in turn, its good for the country.

@purple70, thanks for taking the time to detailing out in points, truly appreciate it. 🙏 great to learn from experienced people.

From my observations of the current trends of clean energy, the strengths, technology and patents KNM possesses, the peculiar technology on "nuclear fusion" trending now, the breakthrough of printable solar plates, and gas-fueled energy like hydrogen for vehicles could in fact the "insights" that the world may progress, and KNM has these know-how knowledge! What is your opinion on the future directions of KNM should be?

@Macdee34, I respect the depth of knowledge you command in your past comments, very enlightening indeed. Sorry if I offended you by reading your past comments. 🙂

Absolutely 💯 factual and business sense put into deriving detailed analysis of projects backdated from 2010 like Impress Ethanol. Oh goodness, years passed by and yet it didn't generate any value-added benefits to the group. Another classic was the Waste to Energy project, backup plans for financial risks non existence since Day 1.

The unique structure of KNM consisting of minority shareholders thats holding majority shares makes it a true public company. 👍

We all know raising new rounds of bonds or debts are not an option any longer, the company in PN17, core issue is cash flow, it has good back orders or at least assume it has looking at steady stream of revenues, how would monetization exercise of non core assets will ruin its survivability? Please share your views if its OK. Thanks.

@purple70, thank you for your compliments. Sorry to say that based on your comments here, they are the "Human Perceptions" which I admire.

But perhaps you did not follow the published data of the company, KNM is progressing well. My opinion was based on the AI scores, not on what they had done in the past.

I always believe that "the proof of a pudding is in the eating..." lets see if they convinced the creditors prior to the EGM.

Guys, you should listen to this, BFM just interviewed the current board Chairman, https://bfm.my/podcast/morning-run/the-breakfast-grille/knm-borsig-takeover-board-debt-german-share
At least my research and the information aired over the BFM radio did not sway. Now, I am eager to listen the opposing party's vision, strategies and action plans to almost immediately revive the company. 🤔🙂

@The Rock, for that matter, any company that falls into wrong hands will have its shares hover between 1sen and 3.5sen, there are plenty of companies similar situation, due to stripping of crown jewels and carting away those golden-eggs laying geese out of the company. KNM is not an exception, current management is a credible one. CEO Ravi is based on a market reputation that is a "turnover from losses to profits" guru, similar Vikram Pandit of Citibank, John Thain of Merrill Lynch and Joseph Cassano of AIG.

Let's see who wins the tussle. If I can't afford to take such high risks, then, I will dump shares before EGM maybe even before that like October 10th, and pick up afterwards if the current board is still around after October 16th, KNM fair value is 38sen, it won't go wrong, and perhaps may go up to 70sen in 12 months time (long term holding), no banks will give you 100% returns in 12 months time though even if we pick up after EGM, looking at today's trend, the holding power is strong, scary at the same time it's exciting...

@speakup, grossly 38sen to 40sen is the current fair value, BUT if the requisitioners managed to unseat the current board, it's 1sen outright, even that you may need to pay transaction fee and perhaps you still owe the broker...
This tumbling down isn't about the requisitioners, it's about the circumstances, the situation is, its in the Catch-25 situation, creditors won't wait till the cows come home, the creditors will strip away the company and we will be left with nothing....

@MarioBros, those holding KNM O&G shareholders are true Malaysians, Malaysia Boleh!

Good morning @The Rock, the KNM fans and followers all around the world....

@Adagold, wow, so much of information to digest...

Its profit-taking day, so it may reach 250mil, with 17sen, if we are lucky.

@Dawneagle, thanks.

@theboss9009, yes, spot on! 👌 KNM fundamentals are strong, no reason to fear holding on.

The posting by Securities Commission as below:

https://www.sc.com.my/resources/media/media-release/frequently-asked-questions-answers-on-recent-amendments-to-securities-laws

@Dawneagle, the rule of 5% shares as a substantial shareholding was changed to 2% since Nov 1, 1998, and required to declare within 7 days. So, anyone who has purchased more than 2% by Oct 4th based on my rough calculation (correct me if I am wrong) will need to declare by Oct 13th. So, you will know who they are. For those buying today onwards until Oct 11th, nominees may vote on their behalf as time limitations for such declarations. Nevertheless, substantial/beneficial shareholders will appear eventually. I guess the regulations have gone the prolonged tried periods to ensure its reliability.

@Michael Kwok, thanks for the tips. I guess many takes acct n profit taking the next 2 days, so it tapers towards the weekend.

My lecturer passed me this article and requested me to measure the extent of human perception vs share prices volatile situations and fundamentals of companies while registering losses during the period. (Strictly For academic purposes only). Well, its huge task to analyse. Interestingly, decisions by shareholders in their own hands...how would we learn what's good or bad instead? These are hypothesised questions to ponder.

https://theedgemalaysia.com/article/special-report-hidden-hands-behind-penny-stock-surge

Dawneagle, oohhh, triangle 🔺️ tussles will be epic but we don't pray for it to happen in KNM lar, the last I heard was the Scanwolf Corp Bhd.

CyrusQ, yeah, someone got to sell to enable another to buy up... 😎 spot on.

@Woodswater, you're most welcome brother...my pleasure.

Based on my studies so far, the fair value of KNM (currently not taking into consideration Borsig's prospects of public listing) it should hover between 38sen, with market capitalization of RM668mil, it stands a good chance of pulling out of PN17, assuming everything "ceteris paribus..."
In terms of yield vs market, Borsig's listing will give everyone a fair share of rewards by the board. Based on cash runway analysis, KNM has sufficient cash runway for more than 3 years if it keeps its current positive free cash flow level. (long term assets - 1.3B, physical assets of 1.2B, receivables 578mil, Cash&equiv 235mil vs LT debts 1.2B, liabilities 802mil, payables 601mil, equity - 772mil), short term liabilities exceeds long term liabilities - good. short term liabilities vs short term assets - not favourable, though. Debt to equity ratio - 152%, interest coverage ratio - 0.4times. ROA company 0.6% vs industry 6.3%, ROE (-14.2%), not favourable. KNM reduced losses over past 5 years at 18.6% per year - very good. COS is high after pandemic, unavoidable but an area to look into seriously now. Price-to-Sales ratio 0.5times vs Competitors 0.9times, favourable. (competitors - perdana pet, uzma, deleum, sapura).

KNM fundamentals are strong enough to grow to the next heights. The current management's extraordinary performance, if prolonged for the next 12 months, will bear fruit for all stakeholders. The frontliners should be appraised soon it turns over without delay.

Wow, it touched 17sen.... cool!

@CyrusQ, I guess the bilis realized that if they are in a small cluster, they are swallowed, but at KNM, the minority shareholders are holding a majority of voice, Malaysia Boleh maa.... just like badminton Thomas cup or harimau Malaya games, everyone comes together....

@Woodswater, obviously, single sided, systematic, but is a good way.
At the end of the day, everyone wants something - to be rich, powerful, winning and/or simply be happy, either by hitch-hiking, tag along, disruptive, opposing, suppressing, or putting efforts to achieve.

Hello KNM fans....another round of rally...nice to see it's being pushed up progressively. 16sen is a good performance. Wonder why nobody is asking at 16.5sen then? hahaha. Very clever and calculated trading, a beauty to observe such unique movements, particularly highly volatile counters.

Have any of you guys using browse AI to collect market data and information to analyse stock price movements? Well, super powerful tool, like a genie in getting data. And wowww, the Empire strikes back... (need to bulk buy caramel popcorn from Shopee 10.10 sale...) super hotty... !!! Hot from the oven in Focus Malaysia:

https://focusmalaysia.my/knm-groups-creditors-want-to-stick-with-current-management-bod-any-pending-change-is-seen-as-disruptive/

@UpUpRocket, yeah... must do justice to the visionary Mr Lee family, he is one those Malaysian businessmen that picks up history-rich branded businesses and assets, very similar to Warren Buffet 's style, keeping them for long term. As much as a visionary man, if his then-Finance team assist to stack up these businesses well by not spreading too thinly, in my prediction, the group wouldn't be bad like now. Of course the 2year pandemic changed the business landscapes, strong company fundamentals will not fail anytime. A wheeler-dealer could have got a strong corporate strategist to keep everything on track, pacing out well, it will be in the list - Fortune 500 companies in the world 🌎

@The Rock, FBM Hudson Italia isn't producing ethanol, as you said. Impress Thailand is the ethanol factory.

FBM Hudson Italiana SpA, founded in 1941 is a renowned manufacturer for air cooled heat exchangers, process gas waste heat recovery systems, heavy duty heat exchangers and special shell & tube heat exchangers such as threaded, flanged & ring locked closures heat exchangers and special equipment such as ammonia reactors, urea strippers, methanol converters, Cr-Mo alloy reactors, etc for the oil, gas, petrochemicals and desalination industries.

The company is a leading manufacturer holding long and reputable track record in thermal design for air cooled heat exchangers, process gas waste heat recovery systems, and shell & tube heat exchangers.

@The Rock, based on the collected articles and market research, Borsig was earmarked for sale since 2021 itself under previousboard, not in recent months. Although it was a misled decision earlier, the current board initially "letting it go", as there wasn't backorder for Borsig. Somehow the management pulled together some deals and the crown jewel started sparkling again. When the buyer dragged his legs for payment to complete the S&P, the current management finally cut it off, and turned to the SGX listing instead, which you or I would rationally do given the backorder pileups, right? Where would the current board had gone wrong? They were putting off fire 🔥 and finding best possible measures to minimise the risks. Well, these are facts available publicly, powered with university taught theories, we can derive good recommendations to pursue. However, misleading information will swerve the direction in the wrong way if not careful.

@The Rock, based on my research materials, the factory isn't operational, the 2nd phase of construction is stalled. It needs serious funding to resume construction. Upon completion, it has another issue, the raw materials to produce ethanol, which is cassava no longer available vastly in Thailand. Although in theory it is the right direction, but the project conditions no longer viable to continue, as low demands of ethanol and low export prices. Based on its fundamentals, disposal will be better option. Even if the group decides to keep the division, its more viable to do in Indonesia (East Java) being largest producer of cassava in SEA. See this article:
https://theedgemalaysia.com/article/knm-bags-rm159m-epcc-job-ethanol-plant-expansion-thailand