KNM needs clean-up to exit liquidity crisis

Selling assets: KNM’s ethanol plant in Thailand. The group plans to sell its 72% equity interest in Impress Ethanol Co Ltd to fully settle the outstanding amount related to its Thai bonds.

FRESH from suffering a bond default, KNM Group Bhd has a lot of cleaning to do in order to put its business back on track.

The group is in the midst of a liquidity crisis with its current liabilities exceeding its current assets, a situation that has prolonged since 2020.