You are here

Stock to watch: KLW Holdings

Tuesday, November 24, 2015 - 08:27
klw.jpg
KLW Holdings has requested to lift its trading halt after it announced on Monday night that it is under investigation by the Commercial Affairs Department (CAD) for possible offence(s) under the Securities and Futures Act (SFA).

KLW Holdings has requested to lift its trading halt after it announced on Monday night that it is under investigation by the Commercial Affairs Department (CAD) for possible offence(s) under the Securities and Futures Act (SFA).

The CAD has interviewed Gaw Kuan Ching Jaslin, current head of operations and human resource of the company, in connection with possible offence(s). Ms Gaw was formerly the group financial controller of the company.

Lee Boon Teck, currently a consultant of the company, was also interviewed by the CAD in connection with possible offence(s). Mr Lee was formerly the managing director of the company.

KLW Holdings said the CAD has not disclosed any further details of its investigations. It added that business and operations of the group are not affected by the investigations and will continue as normal.