KTL Global on Tuesday announced that it has applied for the trading halt in the company's counter to be converted into a voluntary suspension.

This comes after the branding, operations and procurement company announced on Sunday that it had been granted a two-day extension of the trading halt till 5pm on Aug 16 as it was preparing an announcement in relation to a report by its statutory auditors.

The trading halt has stayed in place since Aug 10, after which the company provided updates on its collaboration with business partners on Aug 11.

Shares of KTL last closed flat at S$0.116 on Aug 6, before it went into the trading halt.

In a separate announcement on Monday, KTL announced that Chin Teck Oon, who has been an executive director of the company since April this year, has been appointed as the chief executive officer of the company.

In its regulatory filing, KTL said that Mr Chin has been leading the management team in the interim period after the resignation of the company's former CEO Liu Changsheng as of July 31.

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Chua Thiam Chwee, has also been appointed as the chairman of the audit committee, replacing Tso Sze Wai as of Aug 16. Mr Chua is an existing member of the audit committee.

Following the change, Mr Tso's resignation will come into effect on Aug 31 this year.

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