No plans to sell Borsig, says KNM shareholders group

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

KUALA LUMPUR: A group of KNM Group Bhd shareholders planning to take over the company’s leadership, led by German billionaire and substantial shareholder Andreas Heeschen, has dismissed speculation that they would sell KNM’s crown jewel, the Borsig Group.

In a joint statement today, the group said instead, they plan to grow KNM to its fullest potential, with the new board’s plan being the turning point and would introduce sustainable growth over the next five years.