KUALA LUMPUR: KNM Group Bhd
has received a written requisition to consider a proposed disposal involving its German subsidiary, Deutsche KNM GmbH (DKNM).
KNM said in a Bursa Malaysia filing today that the requisition was made by MAA Group, which holds not less than 10 per cent of the company’s paid-up capital carrying voting rights at general meetings.
The group said it will seek shareholders’ approval for a special resolution on the proposed disposal at an extraordinary general meeting (EGM).
The disposal involves KNM Process Systems Sdn Bhd, a wholly-owned subsidiary of KNM Group, selling one share in DKNM, representing 100 per cent equity interest, for a total consideration of €270 million (1€=RM4.91).
On Oct 3, 2025, the local bourse announced that KNM Group is facing potential delisting after Bursa Malaysia Securities Bhd rejected its proposed regularisation plan to exit its Practice Note 17 (PN17) status.
KNM said that upon its delisting, the company will continue to exist as an unlisted entity, noting that it had slipped into PN17 status in October 2022 after its auditors raised material uncertainties over its ability to continue as a going concern.
KNM’s regularisation plan announced in August 2025 included the proposed disposal of DKNM, which owns crown jewel Borsig GmbH, for €270 million to pare debts. - Bernama
