Latest news with #KNM
Malaysian Reserve
9 hours ago
- Business
- Malaysian Reserve
KNM proposes RM3.16b debt restructuring, sets creditors' meeting for Aug 11
DEBT-LADEN KNM Group Bhd has issued formal notice to its creditors to convene a court-sanctioned meeting on August 11, 2025, to vote on a proposed scheme of arrangement that forms a central component of the group's wider regularisation plan to exit Practice Note 17 (PN17) status. The scheme – which involves both KNM and its wholly owned unit KNM Process Systems Sdn Bhd (KNMPS) – aims to restructure a combined RM3.16 billion in liabilities as of the June 30, 2023 cut-off date. The Kuala Lumpur High Court has granted the company an order to hold the meeting and extended a restraining order until August 12 to shield the group from legal action by creditors while the restructuring process unfolds. Under the proposed arrangement, creditors will be repaid through a combination of immediate cash proceeds and deferred instruments. The bulk of the initial cash will be sourced from the proposed RM1.3 billion disposal of German-based Deutsche KNM GmbH to Japan's NGK Insulators Ltd. KNM expects RM983.5 million in net proceeds from the sale after deducting transaction costs, escrow requirements and working capital needs. Secured creditors of KNMPS are to be repaid in full in cash upon implementation of the scheme. Unsecured creditors will receive approximately 80.94% of their admitted claims in cash, with the remaining 19.06% to be settled through the issuance of five-year zero-coupon redeemable unsecured loan stocks (RULS). These bonds will not bear interest and will be repaid progressively over five years via a mix of escrowed funds, asset disposals, and internally generated cash. KNM has classified creditors into three groups: secured, unsecured, and intercompany. While secured and unsecured creditors are expected to receive settlements, intercompany balances will only be addressed after other classes are resolved. Some of these balances may ultimately be waived, according to the scheme's terms. The RULS will be listed on the Main Market of Bursa Malaysia under the Exempt Regime, which allows for over-the-counter transfers but not public trading. Redemption will follow a semi-annual waterfall mechanism, using excess cash generated by KNMPS after meeting its six-month working capital needs. Additional funding will come from the potential release of RM156.6 million held in escrow from the German asset sale, along with proposed disposals of other non-core assets in Italy, the UK and Thailand. As part of its restructuring, KNM proposes that the liabilities under the holding company – amounting to RM1.23 billion – be substantially settled via KNMPS. Only RM4.2 million in unsecured claims and RM10.8 million in intercompany dues will be directly addressed by KNMG under the scheme. The proposed arrangement remains subject to the approval of creditors at the August 11 meeting, sanction by the High Court, Bursa Malaysia's clearance for the regularisation plan and bond listing, and shareholders' endorsement of both the restructuring and asset disposal. The group fell into PN17 status in 2022 following severe liquidity challenges, operational delays and audit concerns. It said a comprehensive regularisation plan is in the final stages of formulation and will incorporate both the scheme of arrangement and the German asset disposal. The Court of Appeal is scheduled to hear KNM's appeal for a longer restraining order on September 18. The company's current ad-interim order will remain in place until then, providing a temporary buffer from enforcement actions. –TMR
Wales Online
02-06-2025
- Health
- Wales Online
Scary stats show two in five Brits believe doom-scrolling is self-care
Scary stats show two in five Brits believe doom-scrolling is self-care Scrolling through TikTok, Instagram, X (formerly known as Twitter), and other social media platforms is even considered a form of self-care by 38% of Brits, according to a new study Craig Revel Horwood is encouraging Brits to put themselves first for once, without the guilt (Image: KNM/MI/ Craig Revel Horwood ) Wellness has never been more popular, you would think. But new data shows that half of Brits (47%) are getting less 'me time' than they did five years ago. Scrolling through TikTok, Instagram, X (formerly known as Twitter), and other social media platforms is even considered a form of self-care by 38% of Brits, according to a new study. Brits have seemingly forgotten how to treat themselves, even though a massive 97% of people agree that taking time out is essential for their wellbeing, but very few are actually making space for it, according to the research commissioned by Fox's Fabulous Chocolatey, which spoke to 2000 adults. It also showed that more than one in 10 (14%) struggle to remember when the last time they did something indulgent just for themselves. Back-to-back meetings, endless to-do lists, and juggling the needs of others leaves Brits with very little time for themselves, with just 36% of people managing to take a moment for 'me time' themselves every day. Pets and digital distractions, as well as guilt, are also among the top reasons, alongside money, that people struggle to find time. Top 10 list of Brits biggest barriers to taking more 'me time': Work/ my job (25%) Lack of time (13%) Looking after my children (13%) Spending time with family (10%) Cleaning (7%) Digital distractions (4%) Looking after pets (4%) Financial reasons (4%) Spending time with friends (3%) Guilt (3%) Article continues below Fox's Fabulous Chocolatey has teamed up with king of fabulous himself, Craig Revel Horwood, to encourage Brits to put themselves first for once, without the guilt. 'Darling, if you're not treating yourself, then what are you doing! Life is far too short not to take time for yourself to unwind and indulge,' Revel Horwood said. "That's why I'm thrilled to partner with Fox's Fabulous Chocolatey because frankly, we all deserve a moment that's as rich, luxurious, and generous as these fabulous biscuits.' Article continues below To help inspire the nation, Fox's Fabulous Chocolatey is launching the Fabulous Me Time Moments competition, giving one lucky winner £1,000 of luxury spa vouchers. Isobel Farthing at Fox's Fabulous Chocolatey said: 'It's shocking how few of us give ourselves permission to properly unwind. We believe a little indulgence goes a long way. Fox's Chocolatey Rounds are baked with generosity in every bite, the perfect accompaniment to some much-deserved me time". To enter the competition and be in with a chance of winning, visit Fox's Biscuits.
The Hindu
25-05-2025
- Politics
- The Hindu
Markazu Dahwa takes out family rally against drugs
Kerala Nadvathul Mujahideen (KNM) Markazu Dahwa took out a mass family rally against drugs from Edavanna to Manjeri in the district on Saturday. Hundreds of women and children took part in the rally ignoring torrential rain. The rally was held as part of a larger campaign titled 'Nalla Keralam' by Markazu Dahwa and its subsidiaries. The rally raising the slogan 'anarchy must be corrected and intoxication must be eradicated' was given receptions at several places between Edavanna and Manjeri. The rally called upon the people to wage a battle against intoxicants, liberalism and terrorism. P.K. Basheer, MLA, inaugurated the rally. KNM district secretary K. Abdul Azeez presided over the function. Madya Nirodhana Samiti State president Iyyachery Kunhikrishnan, rally captain K.M. Husain, Edavanna panchayat president P. Abhilash, Shakir Babu Kuniyil and Fatima Manjeri spoke.
