‘Invisible hand’ behind KNM boardroom tussle?

Tunku Yaacob welcomes the call for an EGM, saying that it will prove the confidence of majority shareholders in the current board of directors.

AS a German billionaire tries to wrest control of KNM Group Bhd, the chairman of the debt-laden group alleges that there is a “Malaysian syndicate” behind the tycoon.

Tunku Datuk Yaacob Khyra stopped short of naming the “market-maker”, but says the syndicate wants to take control of KNM and could reward the German tycoon, Andreas Heeschen, by selling off KNM’s crown jewel, Borsig GmbH, to him.