KUALA LUMPUR: Yang di-Pertua Negeri Tun Pehin Sri Abdul Taib Mahmud's son Datuk Seri Mahmud Abu Bekir Taib, has emerged as a substantial shareholder in KNM Group Bhd, amid a boardroom tussle.
Mahmud Abu Bekir is deputy group chairman of Cahya Mata Sarawak Bhd.
According to a filing with Bursa Malaysia Securities Bhd yesterday, notice of Mahmud Abu Bekir buying a 5.031 per cent interest in KNM Group was given last Friday, October 6, 2023.
German billionaire Andreas Heeschen and eight other shareholders have requisitioned an extraordinary general meeting (EGM) on October 16, 2023 to remove the entire board of KNM Group and replace them with seven new directors.
Among the board nembers Heeschen seeks to remove are KNM Group group chairman Tunku Datuk Yaacob Khyra and chief executive officer and managing director Ravindrasingham Balasingham.
In September, Ravindrasingham made a public appeal to shareholders to back the current board at the EGM.
Tunku Yaacob has been steadily acquiring shares in the open market ahead of the EGM and currently owns a 9.5 per cent interest in KNM Group.
MAA Group Bhd, which owns a 8.55 per cent interest in KNM Group recently stated its intent to vote in favour of retaining the current board of KNM Group.