The company's previous announcements dated 18 November 2021 onwards in relation to default in payment of Thai Bonds and the loan facilities granted by TransAsia Private Capital Limited and Danos Limited (TA/Danos) and the loan facilities granted by Bank of China (Malaysia) Berhad (BOC). Reference is made to the previous announcements dated 18 November 2021, 22 November 2021, 6 December 2021, 10 December 2021, 16 December 2021, 21 December 2021, 29 December 2021, 28 January 2022, 1 March 2022, 1 April 2022, 29 April 2022, 1 June 2022, 1 July 2022, 1 August 2022, 1 September 2022, 30 September 2022, 1 November 2022, 1 December 2022 and 27 December 2022. The Board of Directors of KNM Group Berhad (the Company or KNMG”) announced that CGIF, TA/Danos and all other lenders (including BOC) are working in close cooperation with the Board of Directors and KNMG newly appointed GCEO, Mr. Ravi Balasingham towards achieving a mutually acceptable resolution of the settlement of the monies due to the respective lenders from the monetisatision of non-core assets and IPO/Sale of Borsig GmbH, as previously announced.

The company's stated plan to monetize the assets will be accelerated under a disposal process based on non-exclusive deal structure, which will also naturally lead to higher cash values on disposal. KNMG has been in continuous close discussion with the respective lenders on various measures to address the above-mentioned events of default. The repayments will be dealt with, addressed and/or restructured under the Proposed Scheme of Arrangement as announced on 16 December 2022.

The company will make the necessary announcement to Bursa Malaysia Securities Berhad as and when there is any material development in relation thereto.