Shareholders Shares their Future Plans for the Embattled KNM Group
The press conference preceding KNM Group Berhad’s Special Extraordinary General Meeting (EGM) on October 16, 2023, introduced a dynamic new leadership team. Led by Tunku Kamariah and a group of accomplished directors, their mission is to steer KNM out of its current challenges.
The new board has ambitious plans for KNM’s future, focusing on reorganization, visionary leadership, and strategic realignment. They are committed to not only repaying debt but also unlocking the company’s true potential. This involves capital injection, asset enhancement, cross-border collaborations, and partnerships with global giants.
One of their key priorities is to harness emerging opportunities in renewable energies and engineering, leveraging KNM’s existing assets and talent pool. The leadership intends to maintain continuity in decision-making until superior alternatives emerge.
Future plans for KNM
“As far as FBM Hudson is concerned, the new leadership will have to meet at first the announced potential Buyer and understand the next course of action; there is a diversity of opportunities to the very benefit of all interested parties.
“We look after the Thai assets merely as a matter of CAPEX with the aim to re-starting 200k lit./day production and re-financing. Phase 2: possible increase to 500k lit./day. A completely new high-level approach to Manage-to-perform, enhancing local content and connections.
“The ill-fated Peterborough Project deserves a saga conclusion too, with an option of disposing the Land and another option of disposing the land together with the Project. Offers are already available,” the group says in a media release.
Regarding BORSIG and other assets, the new board is dedicated to maximizing value and exploring diverse opportunities for the benefit of all stakeholders.
In the event of a new leadership at KNM, they are determined to reshape the company’s future, emphasizing financial stability, sustainable growth, and creating enduring value for investors, customers, and employees.
They plan to grow KNM over the next five years by injecting capital, assets, cross-border transactions, and partnerships with Fortune 500 companies.