The news is blocked...not able to open it....

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Manage to see it ady

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KNM MD may consider leading buyout

KNM Group Bhd managing director Lee Swee Eng said he will consider leading a management buyout of the Malaysian oil and gas services provider as long as banks can raise the funds.

Investment bankers have approached Lee, who owns 25 per cent of KNM, and suggested he buy the remaining shares, though none has made a proposal that includes financing, he said. KNM has lost 71 per cent in the past six months in Kuala Lumpur trading, cutting its market value to RM1.31 billion (US$354 million).

“We are very undervalued,” Lee, who set up Selangor-based KNM in 1990, said in an interview on March 13. “The opportunity for privatisation is a good opportunity, but it’s the source of funding. There’s no offer on the table.”

Lee, 53, has seen the value of his stake plummet as the global recession, tumbling oil prices and a selloff by foreign investors combined to make KNM the second-worst performer on Malaysia’s benchmark index in 2008. He said he probably needs between RM1 billion and RM2 billion to fund any takeover.

KNM MD may [B]consider leading buyout[/b]

KNM Group Bhd managing director Lee Swee Eng said he will consider leading a management buyout of the Malaysian oil and gas services provider as long as banks can raise the funds.

Investment bankers have approached Lee, who owns 25 per cent of KNM, and suggested he buy the remaining shares, though none has made a proposal that includes financing, he said. KNM has lost 71 per cent in the past six months in Kuala Lumpur trading, cutting its market value to RM1.31 billion (US$354 million).

“We are very undervalued,” Lee, who set up Selangor-based KNM in 1990, said in an interview on March 13. “The opportunity for privatisation is a good opportunity, but it’s the source of funding. There’s no offer on the table.”

Lee, 53, has seen the value of his stake plummet as the global recession, tumbling oil prices and a selloff by foreign investors combined to make KNM the second-worst performer on Malaysia’s benchmark index in 2008. He said he probably needs between RM1 billion and RM2 billion to fund any takeover.

KNM CEO kind of desperate to say things like privatisation to increase his share price.

Kinda have the same view with you, although we don't know the intention of this news, could be true as well.

It just said investment approach him to suggest the privatisation deal only, not from the CEO's word or intention.

Actually if I want to privatise, I won't tell anyone or tell the media, just let the share price sink, so that my privatisation cost is cheaper.

resort so tempting lea haha
knm dont privatize ahh later force me sell my share at lower price

If resort manage to get back 1.93, then selling pressure might end and mark of btm, else...still on the way to Holland 

i want to buy, but scared hand get burned..hahahah..

so confused la.. i think i better not log in online

I didn't really look at my KLCI shares for the past few days. Reason is I think KLCI will drop somemore. And since I'm not planning to sell my existing shares and not buying any shares, better don't look lar! Currently, looking at STI, my overall portfolio just turn green today. Don't know why all my counters shoot up today even STI is in red...

chyaw..what counter u hold in STI?...i got friend here already