text: [{"text_idx": "#000004", "text": "KNM said it is disposing its indirect wholly owned subsidiary FBM Hudson Italiana SpA as it wants to exit the loss-making heat exchanger and high-pressure equipment business."}, {"text_idx": "#000006", "text": "The move comes as a surprise as KNM had previously announced a deal to dispose its interest in the oil and gas equipment maker unit to British Midland FZE for \u20ac12 million (RM60 million)."}, {"text_idx": "#000009", "text": "KNM, a Practice Note 17 (PN17) company, said it has decided to exit the loss-making segment in view of the continued loss-making operations of KNM Europa BV and uncertainty in business prospects."}, {"text_idx": "#000010", "text": "\u201cThe expected proceeds to be received from the proposed disposal of FBM Hudson, albeit in tranches, can be reallocated to other viable businesses and for the working requirements within the group,\u201d the group said in a filing with Bursa Malaysia today."}, {"text_idx": "#000011", "text": "KNM also said the expected loss arising from the proposed disposal is about RM95 million."}, {"text_idx": "#000012", "text": "The proposed disposal is subject to the approval of the company\u2019s shareholders at an extraordinary general meeting to be convened."}, {"text_idx": "#000013", "text": "\u201cThe board expects the proposed disposal to be completed on Oct 31, 2023, or at such other date as the seller and purchaser mutually agree on,\u201d KNM said."}]