KNM Group saw some boardroom changes as MARC removed the company's sukuk programme from a negative ratings watch. This was done following the lapse of the SC's approval to extend the proposed implementation of the sukuk programme on 20 Apr as no issuance had taken place and the cancellation of the facility.
Separately, the company announced the re-designation of founder and major shareholder Lee Swee Eng as CEO. He was previously executive chairman and CEO. Datuk Ab Halim Mohyiddin was appointed the new chairman. Another appointee was Datuk Dr Khalid Ngah as independent non-executive director. (Edge Daily)