KNM to appoint new external auditors

KUALA LUMPUR: KNM Group Bhd’s external auditors KPMG PLT has retired at the conclusion of the company’s AGM.

The company said in a filing with Bursa Malaysia yesterday that it would appoint a new external auditors in due course.

Earlier this month, the debt-laden KNM Group said it had defaulted on its loans totalling RM416.8mil which were borrowed through three of its indirect wholly owned subsidiaries following the failed sale of Borsig GmbH.