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KLW Holdings

CATALIST-LISTED doormaker KLW Holdings on Thursday said it has withdrawn an earlier action filed against Michael Chan Ewe Teik for the repayment of S$7 million, in accordance with the legal advice it received.

KLW had on Sunday said that its board had been advised by Drew & Napier that it is unlikely to succeed in obtaining summary judgement against Mr Chan for the S$7 million repayment under the terms of the term sheet, as the time for payment arises only after Nov 21, 2015. KLW was advised...

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