Posted by OtisKL > 2023-10-12 20:38 | Report Abuse

@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.

Posted by OtisKL > 2023-10-12 20:50 | Report Abuse

@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.

Posted by UpUpRocket > 2023-10-12 21:13 | Report Abuse

@OtisKL

You say you are student. Then you gotta realise the money business world is really a jungle.

If you don't believe me just go and Google, "fraud cases involving big five audit firms" then you understand what I mean.

There is always more than meets the eye. That's why I always advise people don't all-in no matter how good the odds. We never know.

That's from the heart of one investor to another. There are a lot of people who believe in auditors, professional and authorised people. You can't imagine the amount of scam in the market. Take it from me, an old man in the market. Peace...

Posted by OtisKL > 2023-10-12 22:01 | Report Abuse

@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. 👍

Posted by Dawneagle > 2023-10-12 22:49 | Report Abuse

@macdee34 I suspect you're an insider a.k.a keyboard warrior for the German Group 😁. Keep up the good work in scaring people with negative news.

Posted by UpUpRocket > 2023-10-12 22:51 | Report Abuse

We have to always remember, whenever there is money involved people will become genius and come up with wonderful ways to cheat. Humans are capable and very creative. Never underestimate.

Posted by UpUpRocket > 2023-10-13 08:06 | Report Abuse

https://www.thestar.com.my/business/business-news/2023/10/12/borsig-ipo-to-alleviate-knms-financial-woes

Borsig boss says, "If the upcoming EGM on Oct 16 results in favour of the current management of KNM, it has the potential to not only enhance the value of Borsig through its IPO but also uplift the entire KNM Group,” he commented.

Posted by dompeilee > 2023-10-13 09:44 | Report Abuse

I have a 100% win record on KNM, ever since my 1st foray into it in 2010 (remember buying for $1.70+ back then & selling in the high $2s), then 2012, 2014 & finally 2019( bought 31.04c, SOLD 34.64c). This co. has a reputation for destroying shareholder value & is GUILTY till proven innocent!

Posted by Adagold > 2023-10-13 11:06 | Report Abuse

I think dompeilee gave a fair comment. The performance of KNM for the past ten years is anything but inspiring.

His comment of guilty until proven innocent is tongue in cheek and frustration of an investor. His investing skill is very good with such a good winning record. Clap hand.

To be fair the current management took over less than a year ago. They already hit the ground running but there is lot of shit to clear first before they get back on track.

We can't sack the manager after losing a few games.

Better let Tunku do his work, don't disturb him for a while. Maybe he sell off the loss making businesses then list Borsig see how. If he can't do this as promised then we review again loh. What do you think?

Posted by Ogopogo > 2023-10-13 11:23 | Report Abuse

Fair enough

Posted by Ogopogo > 2023-10-13 11:35 | Report Abuse

Incumbent KNM board claims support of creditors

https://www.freemalaysiatoday.com/category/highlight/2023/10/13/incumbent-knm-board-claims-support-of-creditors/

Posted by Cipta > 2023-10-13 11:47 | Report Abuse

TY, beware, the real target of mafia may not be KNM but MAA.

Posted by TheEqualizer > 2023-10-13 12:03 | Report Abuse

Reader here. After reading so many news.
I got the impression german side are no longer trustworthy.
Plus german side fighting seems to be slowing down...like no momentum dy....

Looks like it

Posted by TheEqualizer > 2023-10-13 12:04 | Report Abuse

If u firmly believe u are right and golden goose deserves to be handled by the right hands... fight till u die.
Like elon musk on his gigafactory

Posted by TheEqualizer > 2023-10-13 12:06 | Report Abuse

German billionaire should also have few billionaire german friends to bring in to counter TY ma. Right?

Posted by Jonathan Keung > 2023-10-13 12:36 | Report Abuse

To be fair Borsig is involved in a highly competitive boiler & component processing parts manufacturing business. In Europe business is not exactly booming. Due to external conflicts and challenging fiscal factors . This is partly contributed to lack of suitors for the Borsig. Remember KNM bought over the Borsig business for the past decade. Not to mentioned KNM is cash strapped and carries a loan of 2 + billion which need to address immediately. Not an easy rask.

Posted by Plantermen > 2023-10-13 12:48 | Report Abuse

Listing in SGX due to KNM GROUP financial position and PN 17 status. Bursa listing are very clear on secondary listing of subsidiary. In addition KNM lmajority of their sales revenue is derives from the Borsig industrial group. Meaning the rest of KNM GROUP is dormant and lack lustre. We cannot rule out possibility of assets injection or private placement by the Board for shares in the KNM GROUP. Just my 2 sen worth

Posted by EatCoconutCanWin > 2023-10-13 14:49 | Report Abuse

Delisted is the best solution. Don't argue that who is the best to drive. The problem is this company having big trouble to continue. Push stop n let it go

Posted by OtisKL > 2023-10-13 14:51 | Report Abuse

@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.

Posted by Dawneagle > 2023-10-13 14:57 | Report Abuse

If there is one truth about knm. This guy or girl -dompeilee has spoken the actual knm movement.

I also have 100% success rate in knm. I bought 4x in the past 5 years. I got stuck the same 4x. I average down 4x and sold with marginal profits. So ya, my track record is 4 win and 0 lose in knm.

It's the same pattern over and over again, no matter who the BOD or CEO.

I think there are more bilis in knm than any other klse counters. You guys move the price up and down. Sharks move in-between and eat all the profits.

I have a question. What you all think, will happen to the price after the EGM?

Remember buy on rumours and sell on news!! It works time and time again.

dompeilee

I have a 100% win record on KNM, ever since my 1st foray into it in 2010 (remember buying for $1.70+ back then & selling in the high $2s), then 2012, 2014 & finally 2019( bought 31.04c, SOLD 34.64c). This co. has a reputation for destroying shareholder value & is GUILTY till proven innocent

Posted by Dawneagle > 2023-10-13 14:59 | Report Abuse

I don't want to talk about Tunku n German. So boring reading the same drama for the last 2 weeks.
Let's talk about price movement and how to make money here.

Posted by Dawneagle > 2023-10-13 15:02 | Report Abuse

See how they dump. Anyone notice. Before they dump, the buyer all hilang. Then they dump, that's why you see sharp spike down. All fake buyers.

See for your self. Sit down and monitor the movement if got time.

Posted by OtisKL > 2023-10-13 15:03 | Report Abuse

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.

Posted by OtisKL > 2023-10-13 15:15 | Report Abuse

@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.

Posted by Jonathan Keung > 2023-10-13 15:35 | Report Abuse

Remember EGM on the 16/10 {Monday} at 10 am. Exercise your rights as a shareholder.

Posted by Za1234 > 2023-10-13 15:49 | Report Abuse

better buying MMAG....1 sen,

Posted by Adagold > 2023-10-13 15:59 | Report Abuse

What happened to the SOA?

The scheme of arrangement (SOA) was ordered by the court and supposed to be held on 12/10/2023. It was subsequently postponed by the court to a later date to be fixed. We thought that was the end of the story for now.

Well, it seems that the management and the creditors went ahead with the SOA despite court adjournment. They did it on an informal, unofficial basis.

This shows that (1) the current KNM management is transparent and have nothing to hide, (2) they are confident their plans to repay all creditors in full without haircut is credible, doable and will be welcomed by all creditors.

According to this article, sufficient majority of creditors support their plans. And, this same plan would receive the same approval when it is tabled officially.

OK, does this give confidence to investors? I bet it sure does. Unlike some people who stated that their plans will not be approved by creditors. This proves that such a statement earlier was mere speculation.

You can read for yourself the details here,
https://focusmalaysia.my/knm-board-sufficient-majority-of-creditors-remain-supportive-of-our-scheme-of-arrangement/#:~:text=A%20SUFFICIENT%20majority%20of%20creditors,cash%2Dstrapped%20KNM%20Group%20Bhd.

Posted by Adagold > 2023-10-13 16:29 | Report Abuse

Weekend Fun

It seems that a last ditch attempt was made by German guy to salvage whatever little hopes left in the attempted takeover. Tengku Kamariah invited their fans and reporters to a free breakfast and sumptuous lunch at a leading hotel to tell them about their plans to save KNM. (The other two guys probably malu to spearhead this attempt.)

Too little, too late, right? The EGM is just around the corner. Say so earlier ma, what plans you have. Their best plan earlier is to follow Tunku's plan, plus raise loans from Europe at higher interest to repay current creditors with lower interest. And some hot air on how to take KNM to the peak again.

The joke is that he is challenging Anwar who is delivering his budget today. Hmm... still got reporters so free to do his story meh. 😂

Posted by TheEqualizer > 2023-10-13 16:42 | Report Abuse

reader here. Just curious. If billionaire IS billionaire, why need others to help pump in money? or get a loan?
Straight offer to inject funds in knm ma. Better right? straight away shareholders got confidence in him right?
Still dun want to use own money.....suspicious

And i really wonder if his so called institutional investors will even invest in a bond funding knm. I know institutional funds or pensions wont do that one. They dun speculate wan....very very strict investment criteria

Posted by TheEqualizer > 2023-10-13 16:44 | Report Abuse

billionaire injecting Eu100m is sup sup water water right? Eu100= myr500m...can help pay loan dy.
but then again RM500mil still not enuf for 1bil knm debt eh....curious

Posted by Jonathan Keung > 2023-10-13 17:02 | Report Abuse

KNM total borrowings 2.5 billion

Posted by Adagold > 2023-10-13 17:04 | Report Abuse

@TheEqualizer,

Exactly my thoughts. That's the logic.

I have sources that tell me the foreign guys earlier oredi tried to obtain funding from Europe but failed. It seems that nobody wants to lend to KNM. We are not exactly a household name in Europe, unlike Borsig.

But I cannot prove what I say. It would be like spreading fake news. So, please ignore what I said. Use your own logic. Do you think Flavio/Heeschen can raise any funds? And, even if they can, what's the point? They would be using those funds to repay existing creditors. And their ultimate wonder strike would be to ask for a steep haircut from the creditors. It's normal for any distressed borrower to ask for haircut. It doesn't take much skill to do that. Only thing is that it will damage the borrower's credibility and honor badly.

Posted by TheEqualizer > 2023-10-13 17:28 | Report Abuse

Well, unlike some ppl who either doesnt read reports or just talk kok,
Total short n long term debt for knm is only 1.18bil. With short term at 1bil.
☆Think i duuno how to read report ka☆
Lol

Posted by TheEqualizer > 2023-10-13 17:31 | Report Abuse

Well, to borrow in europe u may need to put up something for collateral. I think borsig lo

Posted by dragonz98 > 2023-10-13 17:35 | Report Abuse

KNM GROUP BERHAD
EXTRAORDINARY GENERAL MEETING
Mon 16-Oct-2023 10:00 AM

Register at https://investor.boardroomlimited.com/
For Submitted eProxy Form , Register for RPEV, Submit Question
Closed On Sun 15-Oct-2023 10:00AM

Posted by OtisKL > 2023-10-13 17:48 | Report Abuse

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

Posted by OtisKL > 2023-10-13 17:56 | Report Abuse

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

Posted by yowza2288 > 2023-10-13 20:46 | Report Abuse

Hi everyone, am I late for the party? hihihi
Lucky me to have enough interest to follow this sparkling moment, but little to lose.
And lucky me not to be a KNM creditor and have to trust again in the revitalization plans.
On the one hand, Tunku is asking creditors to ignore the situation for other six months so he can write the accounts as PN17 requires and then hopes to solve everything with Borsig's IPO.
On the other, Heeshen venture wants to cover debts by resorting to more debt and would appear to want to revise planned and ongoing asset investment and divestment projects.
Princess dream seems a 50/50 perfect plan and maybe she will talk about it during the weekend, sipping champagne with friends.

The "real" actual value of KNM shares varies with the management seasons and the narrative convenience of the parties: it was 0.58 just now, then 0.38, for some 0.21. Probably someone is here since when it was 0.70 or even more.
Except for a six-month turnaround, reabsorbed over the next six months (June 2019 / June 2020 - 0.46 peak - when the Lee family had trouble) the stock has been declining steadily since 2015. The latest "shake", the one we are in, is due to the euphoria followed Heeshen venture and the related drama.

Tunku got into KNM when the stock was around 0.20 and again, last week, at less. Heeshen bought something directly last week but it is not known who "transferred the management" of the 2/3 of his share and who the EGM partners are and therefore not even at what price they got in. Mr. 5% has already lost a chunck of its money in a few days. It is difficult for smaller investors to understand the real value of their wallet and to imagine or predict how the market will react after the 16th...and in the next hot months to come.
Adding yesterday the 25th October to the management agenda for Porro's civil suit, from what has been published since today, on October 31, KNM intends to close the sale of FBM Hudson italia (although the conditions include the possibility of postponing to another date) to Petromat fzco, but both Porro and Princess have hinted that the deal has technical and legal grey areas and clear valuation anomalies. No idea what to think about and how relevant to the share price is the matter, but if Porro, the Italian lawyer accused of being a criminal, has cards up his sleeve to play in his favor, I believe he will not hesitate to do so.

Here you can read Bursa's requests of clarification and KNM's statement regarding the status of FBM Hudson proposed disposal.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3385155

So...Buckle up!

Posted by EatCoconutCanWin > 2023-10-13 22:33 | Report Abuse

I as investors support bosick.

Posted by EatCoconutCanWin > 2023-10-13 23:15 | Report Abuse

Bosick I trust this guy. He billionaire in Germany. Why knm Malaysia trouble? Because the name knm - Kan ni ma

Posted by MacDee34 > 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

Posted by Bullcoming > 2023-10-14 07:00 | Report Abuse

Just like UMNO ruled Malaysia for past 60 plus year, or ancient China Empire ruled for sometime, what happened? Country go LONG-KANG. Similar to KNM, after ruling KNM for sometime, KNM get rotten, is about time to transfomasi, hahaha

Posted by Bullcoming > 2023-10-14 07:05 | Report Abuse

Most of the time people hardly to accept changes, especially aging people, but changes transforming better tomorrow, why not?

Posted by Adagold > 2023-10-14 09:27 | Report Abuse

Going into the final stretch (EGM on Monday 16/10) we expect the battle to heat up. Team Malaysia given their plan in detail how to lift KNM out of PN17 and set it back on track. Team German last minute still not chet officially state their plans, but gave some hints like obtaining a haircut on loans.

There are some questions most of us are having at the back of our mind. We covered one of two of them earlier. Here's an article that mentions most of the things shareholders are puzzled about.

(1) Why Tengku girl say Mahmud is on her side?
(2) Why German bought only 13.6 million shares whereas Tunku bought 74 million shares?
(3) German say he will borrow more money to settle the RM1.2 billion. At what interest rate will the new loan be, considering the fact that interest rates all over the world is current so high as America is trying to rein in inflation?
(4) German say he will obtain haircut from creditors to benefit KNM? Why does he think that the creditors will like his plan more than Tunku's plan which does not request for any haircut?
(5) Borsig CEO Mr Juergen and Mahmud Taib stated clearly they fully support Team Malaysia. How are they going to work with German Team?

If you are already having overload of news on KNM, you may give this a miss. For me, this is the Battle of the Year in Bursa Malaysia. Probably Battle of the Decade. These stories from both sides are too juicy to miss.

Here you go. Enjoy...
https://focusmalaysia.my/puzzling-questions-on-knms-takeover-attempt-that-shareholders-must-ask-themselves-before-mondays-voting/

Posted by Adagold > 2023-10-14 10:02 | Report Abuse

I hope sharing news from various local and international media is not considered fake news or trolling. Here's more, for your indulgence.

Some of us are concerned; what kind of guy are these two European jokers Flavio and Heeschen. Some shareholders are not worried at all; whoever wins. They think maybe it's better if German win? Give him a chance; Europeans are cleverer than Malaysians. These shareholders don't realize it's not up to us to give them chance; it's up to the creditors. If they don't like these two guys or their plans, the creditors will dapao the company. Kena delisted then. I hope I'm not frightening German fans but it's a fact even though some think that the creditors will also think the same way - give German a chance. KNM is under PN17 with RO to be renewed.

OK, let's take a look at German guy. He is boss of Heckler & Koch gunmaker in Germany. This article will give us some idea how he is going to raise funds for KNM to settle debts. He says he got good jalan to do that, but this article says he can only get interest rate above 8% for his own Heckler & Koch company.

Reminder: Heckler & Koch is gunmaker helping to fan the fire for war.

https://www.ft.com/content/b7cebeb0-3618-11e7-bce4-9023f8c0fd2e

Posted by Adagold > 2023-10-14 10:24 | Report Abuse

OK, one last piece to help us understand Heeschen guy better.

This article is a fresh coverage of his press event yesterday morning. He says he's going to raise 110 million euros, or RM550 million. If that is for paying RM1.1 billion debt it's going to be haircut. Smaller and unsecured creditors will kantoi.

And another statement in the article accidentally revealed that he's lying. He said he tried to buy Borsig in early 2022 but withdrew in April 2022 because the asking price was not justifiable. Eh... strange, isn't it? He know the asking price from the beginning ma, if expensive then why he still want to buy? After start the tender process, few months later he say expensive lah, don't want to buy.

Also, our Tengku girl is mentioned as leading the German team together with Andreas Heeschen. She left the press conference early due to health reasons.
https://themalaysianreserve.com/2023/10/13/german-billionaire-plans-to-raise-e110m-bonds-to-rescue-knm/#:~:text=THE%20group%20led%20by%20Johor,control%20among%20two%20warring%20factions.

Posted by investkl8 > 2023-10-14 12:22 | Report Abuse

Whichever side win, the stocks will go up for sure.. currently NTA 0.21

Posted by UpUpRocket > 2023-10-14 12:31 | Report Abuse

Up Up! Sure win...

Posted by TheEqualizer > 2023-10-14 13:16 | Report Abuse

One thing i know. Action always speaks louder than words.
U can only trust those actually own shares in the company.
This means the owner of the big shares has more to lose than those who only keeps talking

Posted by TheEqualizer > 2023-10-14 13:19 | Report Abuse

And i just read, as i am a curious soul... this german guy has 200m shares transfered to him under an agreement.
Meaning he only bought 120m shares himself?
Only 3%? Apa ni....
Who owns the 200m?