nothing good coming from this company. Price dropped again today after a short buzz 2 weeks ago. It seems nobody will be able to help them as they declined and rejected helps from other people except from within the group. What the future holds we do not know sighhhh
The Company wishes to announce that an ad interim Restraining Order was granted by the Kuala Lumpur High Court on 25 June 2024 pending disposal of the Applicants application to the High Court for a 3 month Restraining Order and a Court Convened Creditors Meeting.
a) no order may be made, and no resolution may be passed, for the winding up of the Applicants;
(b) no receiver or receiver and manager may be appointed over any undertaking or property of the Applicants;
(c) no proceedings may be commenced or continued against the Applicants other than the proceedings under Sections 366, 368c, 368d, 369a or 370 of the Companies Act 2016 except with the leave of the Court and subject to any terms as the Court may impose;
(d) no execution, distress or other legal process may be commenced, continued or levied against any property of the Applicants except with the leave of the Court and subject to any terms as the Court may impose;
(e) no steps may be taken to enforce any security over any property of the Applicants, or to repossess any goods held by the Applicants under any chattels leasing agreement, hire purchase agreement or retention of title agreement, except with the leave of the Court and subject to any terms as the Court may impose; and
(f) no right of re‑entry or forfeiture under any lease in respect of any premises occupied by the Applicants may be enforced except with the leave of the Court and subject to any terms as the Court may impose.
The only good news for KNM is to get another extension for another 12 months. If KNM does not get it that's the end for KNM. By the looks of it, i think it will get that extension because Tengku is still buying into KNM.
KNM has obtained an interim or temporary restraining order from the Kuala Lumpur High Court that will shield it from legal actions by its creditors, until the disposal of its application for a three-month restraining order and a court convened creditors meeting.
the restraining order is part of the requirements to get subsidiary Borsig to be listed in SGX , getting closer to get it listed. long overdue ! SSH keep buying u know something good coming. Cheers !
KUALA LUMPUR (July 2): KNM Group Bhd (KL:KNM) said it is considering fresh options for selling its Italian subsidiary, FBM Hudson Italiana SpA (FBMHI), following a third failed attempt.
“The company has received offers of purchase from other interested parties and is currently evaluating its options," KNM informed Bursa Malaysia on Tuesday. "Further development in relation to the proposed disposal will be announced in due course.”
The announcement follows the collapse of KNM's deal to sell the loss-making FBMHI, a manufacturer of heat and high-pressure equipment, to Milan-based BM Carpenterie Oil & Gas Srl (BMC) and Verona-based Officine Piccol SpA for €16.5 million (RM83.54 million). KNM said the initial agreement with these buyers expired on June 30.
On June 6, the Italian government rejected the attempt by KNM, via wholly owned KNM Europa BV, to sell FBM Hudson to BMC and Officine as the transaction failed to obtain the required Golden Power clearance.
This marks the second time the Italian government has blocked such a sale. Last November, KNM Europa BV's proposal to sell FBM Hudson to United Arab Emirates’ Petro MAT FZCO for €22 million was rejected.
Petro MAT had also failed to obtain the same Golden Power clearance, which allows the Italian government to intervene in foreign direct investments and corporate transactions involving strategic assets, including defence, national security, transportation, energy, and communications.
Prior to Petro MAT, KNM had another deal to dispose of FBM Hudson to British Midland FZE for €12 million, which did not materialise. KNM did not disclose the reason for this.
KNM has applied for a further time extension from Bursa Malaysia to submit its plan to regularise its Practice Note 17 status. It is seeking a 12-month extension until April 30, 2025.
As of the end of March, KNM’s borrowings totaled RM1.286 billion, of which RM1.281 billion were short-term debts, including term loans of RM743.6 million and secured revolving credit of RM527.7 million. This compares with its equity of RM410.76 million, taking into account its accumulated losses of RM1.6 billion.
KNM’s share price closed half a sen or 6.25% higher at 8.5 sen on Tuesday, giving the group a market capitalisation of RM324.8 million.
Read more: Italian govt rejects KNM’s proposed disposal of entire stake in FBM Hudson for the second time KNM signs agreement to sell Italian unit for 16.5 mil euros, of which 11.5 mil to be settled in annual instalments over 10 years
Go to moon by Elon Musk's SpaceX. TP 0.46, Tunku believe that 0.46 is achievable under his management team during last October interview (Borsig battle by Heeschen). Have faith in Tunku and his management team that can turnaround KNM and Make KNM great again. TP 0.46 Heng ah, Ong ah, Huat ah.
Thank you signn for sharing the article. Yes, time will tell whether this will turn out good or not. Finger-cross that everything will go well. Had Tunku ever consider to privatize KNM? and then relist after restructure the whole company?
I dun think he will privatise. Why spend so much money? Maybe sell borsig fully or maybe sell 60%. Then repay debts n fix the remaining issues like the UK waste plant n Thai ethanol plants. See how he goes about it lo
Borsig is very valuable now. The keyword is hydrogen. Borsig has a lot of hydrogen projects. Hydrogen is the future n EV. So if smart sell 60% n keep 40% to get in on the hydrogen future. Sure will get more n more better
U see our sarawak has a hydrogen plant, I think perak or pahang build 1 hydrogen plant soon. I am involve in electrical contracting so I know. Malaysia going into renewables fully like solar, hydrogen ev biomass biogas plants etc
If japanese mnc wanna buy borsig why not sell to them? Who's gonna argue if they give you cash? Lol As for hydrogen tech, you guys can Google. So many new hydrogen tech now
ya ka tapao ka.....you think TY will so easily loose his 140mil investment ka. lol
But also on a serious note. He does need to show proper agreements with his debtors if not knm share price will only stay stagnant.
Again , with public news from the star also knm share price no movement at all....this is weird. This is consider public material news tho still rumorsay only. Maybe thats why
this means if serious things do come, knm will bounce like crazy..... spring will only compress n compress until pecah or rebound like crazy. see how lo
btw i not promoter ah lol. i beli sikit knm aje and of course hope for it to rise ar.....buy at your own risk dun listen to me ar
Get out from PN17 first. Otherwise it is a time bomb. Invested millions and millions and this only can show you TY is rich. He is not waffen buffet, you thought he got golden finger 金手指? Bought wat also can win meh?
What is happening behind the door, no one knows.
This counter is suitable for gamblers, not investors
Sarawak is not using borsig's technology. Saraawak are doing joint venture with a south korean company.
Again piss off vhydro if you dunno anything. Low life uneducated promoter
Other than that, Borsig I think is mostly involved in Germany.
I am merely suggesting as to why why a jap mnc is interested in borsig is mainly because of hydrogen tech. Japan itself is going into renewable energy. They have no land, so solar is out. They maybe repurposing their coal n gas power plants to take hydrogen. So u can see the interest generated. They are also restarting nuclear. U can all Google this it's not a secret. Anyways I am just sharing info.
Again, I am not a promoter or a financial analyst, so I dunno knm will have positive cash flow or not or how they do business. All I know is Borsig is very valuable. I am just an electrical contractor. Up to you to buy or not.
And, simple common sense apply. If you have a valuable item that many people wants you can probably sell at a higher price. So TY and management will have to think about this carefully. As a businessman, i think sell 60% n keep 40% to ride the renewables wave. Look at malaysia, hydrogen, solar. There are lots of people going solar. I think solar companies will do well.
ok i am out of here. just sharing and in a good mood.
Good luck to all and take care. except those pissing off people low level promoters. They can go get whacked for all i care. lol
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
theboss9009
10 posts
Posted by theboss9009 > 2024-06-07 13:05 | Report Abuse
nothing good coming from this company. Price dropped again today after a short buzz 2 weeks ago. It seems nobody will be able to help them as they declined and rejected helps from other people except from within the group. What the future holds we do not know sighhhh