Bursa Malaysia Securities Berhad has initiated legal proceedings in the Kuala Lumpur High Court against MAA Group Berhad, KNM Group Berhad, and related parties to prevent the convening of an extraordinary general meeting concerning a proposed major asset disposal by KNM’s subsidiary.
According to filings by both MAA Group Berhad and KNM Group Berhad with Bursa Malaysia, the Originating Summons dated 27 October 2025 was served on the companies on 28 October 2025. The case has been fixed for hearing on 29 October 2025 at the Kuala Lumpur High Court.
Bursa is seeking a court order to restrain the first and second defendants — MAA Group Berhad and CIMSEC Nominees (Tempatan) Sdn Bhd — from convening KNM’s EGM to discuss or move a proposed special resolution related to the disposal of Deutsche KNM GmbH (DKNM).
The proposed transaction involves the sale by KNM Process Systems Sdn Bhd (KNMPS), a wholly-owned subsidiary of KNM, of its entire 100% equity interest in DKNM for a total cash consideration of EUR270 million (approximately RM1.38 billion).
Bursa’s application seeks to ensure that the requirements under the Main Market Listing Requirements are fully complied with before any shareholder vote or resolution is tabled on the proposed disposal.
Both MAAG and KNM confirmed in their respective announcements that they had received the court papers and would provide further updates in due course as the proceedings develop.
