KUALA LUMPUR (Dow Jones)--KNM Group Bhd. (7164.KU) said Thursday that it has received a buyout offer of 90 sen a share from a company controlled by its managing director and founding shareholder, Lee Swee Eng.

The offer is at a 20% premium to KNM shares' closing price of 75 sen.

The maker of process equipment for the oil and gas industry said in a stock exchange filing that BlueFire Capital Group Ltd., an entity controlled by Lee, plans to acquire KNM's entire business and undertakings.

KNM said the proposal is subject to "satisfactory completion of due diligence, receipt of firm financing commitments, and negotiation and execution of definitive documentation."

BlueFire has been granted a limited exclusivity period up to March 22 to complete its due diligence and satisfy the other conditions, the company said.

BlueFire is acting in collaboration with GS Capital Partners VI Fund L.P and Mettiz Capital Ltd. and the international adviser on the deal is Goldman Sachs (Singapore) Pte., KNM said

--------------------------------------

OMGOMGOMG~~ KNM BIG news !!!!!~~~ tomorrow KNM will hit 0.90 in no time!!!!!!  KNM's CNY ang pow ?

Congrats to anyone who bought KNM Below 0.90!!!!!  anyone bought today will auto untung 15cents... wahhhhh
No chance to goreng already... will probably open 0.895 cents tomorrow morning...

A lot ah? Oooh...i tot reasonable reaction by folks who kena scared by the market downturn particularly Mr. Jones dat drop till 10002.
Tanjong drop 2x more than PBBank drop....I think they are main contributor to the Bursa -15 today.

Edit - On another note, PBBank is about 18 sen down from its ex-price. I don't think it is very scary. Wait if it drop to 11, i'll take notice.

---

Added on February 5, 2010, 3:21 pm

More intense....

if goes below 3, we buy again 

zhulian 5 sens divvy ex tomolo.

tomolo 1.80 i wan to masuk lagi.

tomorrow can get 1.8x for sure

i dont dare to hold cw during bearish market.

After one day away, now you see all prices are so much different kan... PBB slipped below rm11.....

the bolded one - no comment

SAAG?
you kidding?

Did he really recommend SAAG?

haha... i DOUBTED SAAG !!!     

refer here for all the saag discussion SAAG SUKS

I think you better close eye on SAAG...
I got friend hold from last year to this year....Still kenot sell
Unless you had bought in Mar last year and sold by June....you will now be back at Mar prices....

@ Zack Styler....It seems the general "impression" and "experience" with SAAG is not a good one in LYN forum. Perhaps you can monitor it and if it does cheong, you can tell us all how wrong we were...

No comment but can read some in SAAG topic  http://forum.lowyat.net/topic/1021447/+1340

More and more shares being issued due to bond exchange.. 

Your remisier actually recommend SAAG? 

You sure you weren't talking to my Indian barber in Lucky Garden??