KLW suspends shares, must find new sponsor by March 31

Singapore

AS if a police investigation and potential listing-rule breaches were not challenging enough, investors in Catalist-listed KLW Holdings welcomed the new year with a trading suspension and the threat of delisting if a new continuing sponsor is not found by March 31.

KLW suspended its shares early Monday after the company failed to find a replacement for SAC Capital, which said in October that it would stop being KLW's sponsor after Dec 31 because its initial assessment of the door maker was rendered inapplicable by changes to the company and a special audit.