KUALA LUMPUR: Tunku Datuk Yaacob Khyra, the non-executive chairman of KNM Group Bhd, has increased his ownership in the company to 11.75 per cent.
This came as a result of MAA Group Bhd acquiring a 2.25 per cent stake in KNM Group Bhd for RM15.04 million, it said in a filing with Bursa Malaysia.
Yaacob now owns 11.75 per cent of KNM, which equals to 475.2 million shares.
The action comes one month after KNM denied that a police raid was done on its premises, stating that the police were at the premises of the company secretary and share registrar to collect certain documents to assist them with an undisclosed investigation.
In October 2023, Tunku Yaacob and its current board of directors managed to thwart an attempt by billionaire investor Andreas Heeschen and eight other shareholders to remove them.
The Practive Note 17 (PN17) company has until April 30, 2024 to submit its financial regularisation plan.
KNM was classified as a PN17 company on Oct 31, 2022, following a default on Thai bonds worth 2.78 billion baht.
As of the time of writing, KNM Group Bhd's share price was unchanged at 8.5 sen, valuing it at RM343.9 million.