Executive chairman Zulhasnan says KNM would not have slipped into PN17 had the proposed disposal of its stake in Germany's Borsig GmbH been completed before the company's financial audit deadline.
ONCE touted as the darling of investors, KNM Group Bhd
finds itself in the league of distressed companies after it slipped into the Practice Note 17 (PN17) category.
Its shares plunged to five sen each, current liabilities have exceeded current assets and the group foresees itself returning to profitability only in the next “two to three years”.
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