Posted by Medusa > 2023-10-30 16:48 | Report Abuse

TERENCE TAN KOON PING cannot be traced

Habislah geng mafia

Runnnnnnnnnnnnnnnnnnnnnnnnnn

Kikiki…

During the Case Management vide E Review on 27th October 2023, which was attended by the Plaintiffs’ solicitors Jeeva Partnership, the Court has given the following directions:-

The First Defendant, Flávio Porro, to file his Statement of Defence on/before 16th November 2023.

The Plaintiffs to file Reply to 1st Defendant’s Statement of Defence on/before 30th November 2023.

Parties to file by interlocutory application (if any) on/before 14th December 2023.

The matter is now fixed for case management on 15th December 2023.

Further, due to the inability to serve the cause papers i.e. Writ and Statement of Claim on the 2nd Defendant thus far, the court has now fixed 06th November 2023 for case management to update on status and to file the necessary application for substituted service.

Posted by doubleup > 2023-10-30 17:24 | Report Abuse

Yes, OtisKL, the company secretary was negligent to allow the resolution to be tabled in the first place. Probably Tunku over-confident did not give her the instructions.

So, technically Mr Ho can be reinstated and even counter-sue German guy. But due to this turn of events he may not want shareholders to call him thick skin, so he gentlemanly excused himself loh. But the repercussions can be horrifying, leaving Tunku and Ravi to carry on holding the flag now...

Posted by doubleup > 2023-10-30 17:25 | Report Abuse

Medusa, where did you get the news so fast? Terrence Tan absconded? Haha like they say, he must have shit on his body. Otherwise why run away?

It's interesting to see how he and Flavio will survive this court thingy...

Posted by KW L > 2023-10-30 18:13 | Report Abuse

inability to serve court paper can be due to many reasons.

Posted by OtisKL > 2023-10-30 18:20 | Report Abuse

@Medusa, one of the defendants cannot be traced? Hahaha. No wonder the forum here is so quiet, some fellows have bet on the wrong horses.

Posted by Adagold > 2023-10-30 22:28 | Report Abuse

OtisKL,

Although Flavio and Terrence Tan kantoi, Tunku side also not completely without casualties. As it is, with the exit of one of Tunku's team mates Mr Ho, the whole project is now endangered. It's understandable bcos when you fight a war you need to expect some casualties. It turns out that Tunku's casualties also quite high...

Posted by rotikong > 2023-10-30 23:07 | Report Abuse

Now, the counter is cleaning up, just be patient and wait.

Posted by bullrun168 > 2023-10-31 09:37 | Report Abuse

Guys, have you all been off loaded with hugh profits at @0.18 recently ?
If yes, then congrats to you all !

Posted by bullrun168 > 2023-10-31 09:38 | Report Abuse

科恩马申请延后1年呈重组
https://www.sinchew.com.my/news/20231030/finance/5094315

Posted by bullrun168 > 2023-10-31 09:42 | Report Abuse

KNM is now to apply extension for another one year from Bursa to submit its regulation plan,
so, from now till next year September 2024 , it's price might plunged again till as low at one to three cents,
then maybe if the next white horse team same like the German team who want to take over again KNM by held again the EGM, then it's price might spike up again to the price around @0.18 then you maybe can unloaded again for another round of hugh profits !
Cheers to all of you guys !

Posted by KW L > 2023-10-31 10:28 | Report Abuse

Apply means approved meh? Can be rejected also right?

Posted by OtisKL > 2023-10-31 11:26 | Report Abuse

Good morning everyone, it's a sunny day, hope its a fruitful day for everyone.

@bullrun168, thanks for the tips. Cheers

Posted by OtisKL > 2023-10-31 11:31 | Report Abuse

@KWL, yes, you are absolutely right. It can be approved, and otherwise rejected, too. It can go both ways. As @doubleup mentioned in this forum, one of the resolutions put forward by the German team was the removal of the Chairman of the creditor's group, Mr Ho. Unfortunately, Mr Ho was voted to be removed from the board by the shareholders. So, the situation is uncertain, whether it will affect KNM materially or not.

Posted by Adagold > 2023-10-31 15:26 | Report Abuse

Earlier one member mentioned that if we buy Team Malaysia or Team German also will die. At first I thought his comment sounds funny. Right now, it seems he could be right. We voted for Team Malaysia and they won. Unfortunately, they may still suffer from creditors' wrath and trip themselves on the RO.

Posted by OtisKL > 2023-10-31 15:40 | Report Abuse

@Adagold, obviously the Malaysian team would die too, given the fact that the Creditors' group Chairman is planned for expulsion from the board by the German team. I wouldn't be surprised to hear that the RO has been retracted.

If a person is requisitioning the removal of directors from a company's board, naturally they would have studied the background of each director and whom they are representing, or where the nomination came from for the director to be eligible to be appointed to the board.

So, either way, the bilis are dead caught by the sharks...

Posted by OtisKL > 2023-10-31 15:44 | Report Abuse

Posted in Bursa KL announcement:-

Reference is made to the Company’s announcement dated 21 September 2023.

The Board of Directors of the Company wishes to announce that the High Court of Kuala Lumpur has reserved its decision on the Company’s RO Extension Application until 2 November 2023. Further development in relation to the RO and SOA will be announced in due course.

This announcement is dated 30 October 2023.

Posted by Adagold > 2023-10-31 16:58 | Report Abuse

Maybe we can say Team Malaysia did their best to save KNM, barring a small misstep or negligence on Tunku's part. Sometimes in life a small misstep can be fatal. I had a young friend who died recently at age 37. He stepped on a rusty nail and delayed consulting a doctor. He just applied some cream and the wound became septic and fatal for him.

I hope KNM can survive this. Tunku's team worked very hard and deserve a break.

Posted by KW L > 2023-10-31 17:18 | Report Abuse

The Thai bond default occured in Dec 2021 and by now just month shy from 2 years. Then, what progress has been made? KNM has any changes since 2 years ago? The answer is nothing, everything is status quo. How the court can be convinced that KNM is progressing with its regularization plan?

Posted by cK1973 > 2023-10-31 18:30 | Report Abuse

lagi ramai hungus di sini.....
what to do....

Posted by Apastock > 2023-10-31 19:06 | Report Abuse

apuh.. apa knm ini . mau gi holand Tu...

Posted by THE ROCK > 2023-10-31 22:49 | Report Abuse

Just look at the share price of KNM....It will reflect the court judgement....Still holding on @ 0.10 after today that means it will be alright

Posted by OtisKL > 2023-11-01 11:13 | Report Abuse

Good morning everyone, looks like there's going to be some good news in the making....just my gut feel.

Posted by kiwimelon > 2023-11-01 12:05 | Report Abuse

I kinda agree with MacDee34's statement. There are paid trolls in the forum...even the typing pattern is also similar :)

Posted by OtisKL > 2023-11-01 12:57 | Report Abuse

@kiwimelon, me too, paid trolls everywhere, but do you know how to enroll to be one? I need income for my studies.

Posted by KW L > 2023-11-01 17:07 | Report Abuse

count me in, which side pay better I join that side hehe

Posted by KW L > 2023-11-01 17:50 | Report Abuse

Tan Sri Mahmud disposed his shares and no longer a substantial shareholder. So fast.

Posted by OtisKL > 2023-11-01 19:27 | Report Abuse

@KWL, emm, if I get the opportunity, I will get you in too...

TS Bekir is a seasoned businessman, kuat main syer market kot. Beli sini, jual sana, etc. I am sure he will come back once prices going up...insyallah.

Posted by UpUpRocket > 2023-11-01 22:47 | Report Abuse

Tomorrow is a critical day for KNM. Their RO may be lifted by the court. Let's hope for some miracle so that Tunku and his team's hard work can continue.

Mahmud Bekir just want to help his friend the Tunku for the EGM. Now Tunku survived the EGM, Mahmud job is done. He can continue to hold his shares but avoid the limelight by becoming normal shareholder and not substantial shareholder. There are some disadvantages of substantial shareholder. They are watched closely and need to comply with regulations.

Yes, OtisKL, how nice if we can get some gaji as paid troll. So far I enjoy all my trolling everywhere including Facebook and Whatsapp. It's very fun. If I get paid it would be nicer.

Posted by MacDee34 > 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

Posted by MacDee34 > 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

Posted by MacDee34 > 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.

Posted by BigWhiteSand > 2023-11-02 09:19 | Report Abuse

What time is the announcement of court decision today?

Posted by MacDee34 > 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.

Posted by Auntylee > 2023-11-02 10:43 | Report Abuse

Macdee34
You help me , I help you 😁

Posted by MacDee34 > 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?

Posted by KW L > 2023-11-02 15:21 | Report Abuse

newspaper always quote reliable source

Posted by KW L > 2023-11-02 18:31 | Report Abuse

No news is good news?

Posted by KW L > 2023-11-03 09:43 | Report Abuse

KNM lost its case for extension of RO at High Court. Then they appeal to the Court of Appeal and waiting for case management on 14 Nov. Basically is in the ICU already and waiting for some more lab analysis.

Posted by MacDee34 > 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.

Posted by MrMojo > 2023-11-03 11:50 | Report Abuse

Oiks now german sausage can buy at damn cheap price. Lol
Come on german sausage

Posted by UpUpRocket > 2023-11-03 14:06 | Report Abuse

Wait... It ain't over until the fat lady sings...

After the EGM we thought Tunku won and German guy end of story. After the dangerous event yesterday suddenly it seems German guy won after all.

But is it the end for Tunku and Team Malaysia? Haha... More drama and suspense. Don't give up first. The story not ended yet.

But let's forget about Tunku and his gang first. Look across to the German camp. They also have interesting things going on. Flavio and Terence have to appear in court to answer to charges of misdeeds at KNM. They got rid of the Lee family which indirectly led to KNM's problems today. Let's focus on this movie first while we let Tunku lick his wounds in the aftermath of that EGM. He will be making a comeback to fulfil his promises of selling lots-making subsidiaries and listing Borsig. If he can't do that then mampus dapao loh. At this point we can only say that all is not lost.

Posted by MrMojo > 2023-11-03 14:46 | Report Abuse

German sausage billionaire ma. Sup sup water now knm so cheap.
Daring ppl will make money. Chicken ones dun buy. Hehe

Posted by Dawneagle > 2023-11-03 15:25 | Report Abuse

Actually the billionaire thing is over rated. At 0.10cent , knm total market cap is around rm400million. That is a mere 80million euro. What kinda billionaire don't have 80million. If really want to take over, buy la all the outstanding shares.
I'm sure he can collect huge amounts above 0.30cent-0.40cent. This was the last bear trap.

So I think both side equally f-ed up with limited financial resources.

Tunku keep your promises.

Posted by OtisKL > 2023-11-03 16:09 | Report Abuse

Hello everyone, hope all of you are in good health. Aiyaa, the above puzzle is simple. In accordance to CA2016 section 368(2), the court can extend another 9 months extension soon after the initial 3 months granted RO. So, whatever it is, the RO will expire by the end of 12th month. Now, the company has 2 choices, either going to COA, or applying a new Convening and Restraining Orders, with more structure, or perhaps set up a committee if not there, comprising all stakeholders, usually called the Corporate Debt Restructuring Committee, to go more in-depth of the SOA, either modify, etc, and be accepted by the court.

Meanwhile, the company needs to carry on doing the real business and MAKE MONEY lar, don't just sit to lick the wounds or simply liquidating assets, for the next 3 quarters. If the board is serious enough to carry on with the business, book orders need to be piling up, to give hope as a going concern.

Hoping for the best...with a concrete, workable and detailed Corporate Restructuring Plan in place, the company will be much stronger and will lead the industry in the years to come.

Posted by OtisKL > 2023-11-03 16:35 | Report Abuse

A company's turnover strategy is not an easy task, it needs to go back to basics, look into the root cause of the issue and re-strategize and revamp to revive it. While some may "massage" the books to look good, that's not the real solution to it. Build back your revenue stream, cut your losses and unnecessary expenses (but don't prune until the tree dies off), find new markets, add value to your products, inject new revenue streams, and etc.

Yes, some will come forward and say, "easier said than done..." Well, if the challenge is taken up, then it's got to be done...if professional help is needed, there is plenty of experienced expertise in the market that can assist.

Posted by MacDee34 > 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.

Posted by StingRay > 2023-11-03 21:07 | Report Abuse

Use to be a good trading counter. Their infighting is killing the company. 😴

Posted by UpUpRocket > 2023-11-03 21:07 | Report Abuse

This clearly shows McD has a complete lack of respect and understanding of the law and the Companies Act, 1965. That Mr Ho's guy's removal is ultra vires, he is court-appointed and appointed chairman by the two main creditors. Tunku didn't cincai appoint him back.

Haha what else McD don't know? Maybe he don't know the crooks Flavio and Tan need to go to court to explain to the judge they didn't do CBT? McD keeps reading the wrong document, his favourite ES. He should read Companies Act instead.

Now he has to play that trolling record all over again. "Don't listen to this list of people..." Hey, did I say any fake news so far, all this while? It's in the announcement. https://www.klsescreener.com/v2/announcements/stock/7164

Posted by Adagold > 2023-11-03 21:38 | Report Abuse

OK, what did I miss? 😁

Yes, there is some drama about Tunku's team regarding the Mr Ho. Now the suspence is over and he is back tohelp Tunku fulfill hispromises. No big deal. Just a lot of hard work ahead. OtisKL is right - talk is easy, when it comes to doing it can be very difficult. But no matter how Tunku has to do what he said. Otherwise his credibility will take a blow. He will have to get his professional team together to execute.

So I believe that is good news for shareholders and myself the small investor for hanging on and not selling yet. Have to wait a longer time, maybe for Borsig to get listed finally.

Posted by MacDee34 > 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