KNM Group’s high-profile EGM heats up
Reports say the battle intensified over the removal of nine directors, including Chairman Tunku Datuk Yaacob Khyra, from the cash-strapped KNM Group Bhd.
The KNM Group will hold its high-profile EGM but things are already heated up with the resurrection of a so-called 'banned' whistleblower report.
Reports say the battle intensified over the removal of nine directors, including Chairman Tunku Datuk Yaacob Khyra, from the cash-strapped KNM Group Bhd.
One tactic involves resurrecting a so-called 'banned' whistleblower report and critical documents linked to Tunku Yaacob, who is both the controlling shareholder of the oil & gas engineering outfit and a director of MAA Group Bhd.
According to a local portal, the whistleblower report has the potential to damage Tunku Yaacob's reputation and cast a shadow over the current KNM Group management and board.
THE EGM at KNM Group
An extraordinary general meeting (EGM) is scheduled for Oct 16 aims to remove Tunku Yaacob and eight other directors.
Despite the Malaysian Communications and Multimedia Commission (MCMC) responding to a complaint about a "libellous news report" by a questionable news portal, the damaging article remains accessible.
The German billionaire Andreas Heeschen, along with other shareholders, holds a significant stake in KNM Group and seeks the removal of all nine directors, advocating for Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar to replace Tunku Yaacob as director-cum-chairman.
The situation is complicated by the current CEO of Bursa Malaysia, Datuk Muhamad Umar Swift's past affiliation with MAA Group, raising concerns about a potential conflict of interest.
This ongoing corporate saga has put a spotlight on the whistleblower mechanisms of both MAA Group and KNM Group, emphasizing the need for transparency, ethical conduct, and corporate accountability in Malaysia's business landscape.