Flyhigh369 Fellow investors, I heard that Mr Lee had disposed 23.5m shares thru certain put and call on 16th to raise cash to buy more shares (36m shares on the 17th). Mdm gan also reported to buy 36m on 17th. Can u guys enlighten me what they tried to do ?
23/06/2021 8:55 AM

I suspect they transferred 36 million shares each to a financier as security to obtain a loan on 16th June. With the change of ownership, this block of 72 million shares is free to vote in their favor during the AGM. At the same time, to maintain their shareholding in KNM, the loan was used to buy back the 72 million shares from the market on 17th June. This is some sort like share warehousing and he manipulated it.

If my guess is correct, he will reverse this transactions after AGM by selling at market and redeem his shares from the lender via DBT. This is illegal and a very cunning move to create 72 million votes. Only SC and Bursa can find out who is the beneficiary of this DBT and decide whether it’s allowed. We must report this to SC and Bursa to start an investigation.

This is getting ridiculous. They spent RM350million to build a Barbie castle in Thailand to find Ken? When it is due for repayment after 5 years, she just resigned and the company have to bear the responsibility. Is all in their blood. We have to do cleansing this AGM.

https://freesuntimes.com/knm-group-berhad-empress-ethanol-thb2-7-billion-bond-scandal-exposed/

In desperate attempt, Lee Swee Eng which without holding any executive role in the KNM, hired Leong Choon Meng as Special Advisor to Gan Swee Liat to cover their wrongdoing. His appointment is without approval from the board of directors and management. His role in the company is not made known. Something fishy is going on.

He was previously MD of a PN17 companies, YFG Berhad and scandal hit Asia Media. If he succeeded in keeping Gan as major shareholders, he will be next CEO to helm KNM. Avoid this controversial guy at all cost!!!

Smelly Sardin
PP is not the only way to pay debts but this PP is their only way for them to garner more shares at lower price and dilute our holdings. No worries of PN17, their net assets is still healthy

RISK8888 LSE is in control of the company after the share cap increase from 2.3 to 3.2 bil...no way small fish can win...they pump im $$ to PP to increase their holding. recycle a few round already in control...now they want to further take control by adding another 30% via another PP...actually is good that they want to take control of the company...but too bad that all the meat is eaten by them and only left bones to small fish like us...really unethical business man...

We cannot allow the PP to be passed. Pls vote against. We urge Bursa reject their PP application b4 table for voting

Thai bond is another time bom. This THB2.7b bond due end of this year and the phase2 of the ethanol plant is still yet to commence construction. This project should have started operation 2-3 years to generate enough income to redeem the bond. To add more salt to the wound, Lee Swee Eng is using KNM to issue the corporate guarantee for this bond. He is bringing all of us down together with him.

The insider trading still haunting them after 10 years with the hearing set on 22 May

https://businesssuntimes.com/knm-ceo-lee-swee-eng-insider-trading-charges-tied-to-prior-reprimands-and-fines-to-8-of-the-knm-board-of-directors/

SC is not letting him go easily. Next hunt will be on esos and pp