KNM settles debt with CGIF

KNM Group logo

PETALING JAYA: Cash-strapped KNM Group Bhd (pic) has fully repaid a trust fund managed by the Asian Development Bank, which had previously made repayment on behalf of the group to its bondholders in Thailand.

“The board of directors of KNM wishes to announce that the company had on Dec 29 paid to Credit Guarantee and Investment Facility (CGIF) US$1.46mil (RM6.1mil) being the full reimbursement of the coupon and interest related to the Thai Bonds and US$103,327.83 (RM432,130) being reimbursement of the cost and expenses incurred by CGIF,” it said in a filing with the stock exchange yesterday.