KLW explains appointments in response to SGX queries

Singapore

TROUBLED doormaker KLW Holdings on Sunday responded to a slew of queries from the Singapore Exchange (SGX), pertaining to its decision to appoint certain individuals - including former managing director Lee Boon Teck and financial controller Jaslin Gaw - to different positions at the Catalist-listed company despite their roles in apparent lapses in internal controls and potential breaches of disclosure rules.

On Nov 4, PricewaterhouseCoopers (PwC), as KLW's special auditor, highlighted issues surrounding a number of term sheets that Mr Lee had undertaken without the knowledge of other board members, as well as payments by the company to Mr Lee a…