KNM denies reports of police raid, says it is only assisting in probe

KUALA LUMPUR: KNM Group Bhd has denied claims of a police raid on its premises on Dec 12, noting that the police were only seeking its assistance in an investigation.

In a filing with Bursa Malaysia today, the oil and gas engineering company clarified that the police had gone to the premises of the company secretary and share registrar to collect certain documents to assist them with their investigation.

"These facts have been confirmed by the Federal Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf.

"The news being circulated via social media and in the press that CCID had raided KNM’s offices is baseless and completely unfounded,” the Practice Note 17 (PN17)-classified company said.

KNM also said it had filed a police report in relation to the fake press reports and would be filing the same with the Malaysian Communications and Multimedia Commission.

In a press statement issued earlier in the day, the company said it could not get into the specifics of the probe but as a reputable and responsible organisation, KNM, via its board of directors under the leadership of Tunku Datuk Yaacob Khyra, would assist the police.

Moving forward, KNM said it would continue its efforts to monetise its assets earmarked for paring down of its debts.

"We have an ambitious timeline to catch up with despite disruptions from the hostile takeover extraordinary general meeting (EGM) in September this year, which had delayed and reversed earlier efforts up to that point.

"To overcome these delays, the company is moving with even greater urgency,” it said.

On its PN17 status, KNM said it was working with its investment bankers on a regularisation plan and would submit it to Bursa Malaysia Securities Bhd (Bursa Securities) soon.

KNM, which was classified as a PN17 company on Oct 31, 2022, is required to submit a plan to regularise its condition to Bursa Securities this year. - Bernama