KNM chairman Tunku Yaacob Khyra, CEO Ravindrasingham Balasingham retains seat on the board by a narrow margin.
Tunku Yaacob Khyra successfully fended off the challenge of Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar to unseat him.
KNM’s largest shareholder Tunku Yaacob Khyra, with a 9.5% indirect stake, managed to prevail after 184 shareholders holding or 1.04 billion shares or 62.18% of the votes cast voted against his removal. CEO Ravindrasingham Balasingham also retained his seat on the board after 195 shareholders holding 1.05 billion shares or 52.38% of the votes rejected the resolution to remove him and replace him with Edwin Silvester Das, who failed in his bid to be appointed as director.
KNM’s prized asset Borsig, a German machinery and equipment company, is on track for an initial public offering by the second half of 2024 on the Singapore Exchange . “It became clear during the virtual voting that one resolution was not voted on with Mr Heeschen’s 323 million shares. The importance of that point is it proves that the physical proxy form as given by Mr Heeschen prior to the EGM was not recognised,” she claimed.
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