Corporate digest

KLW Holdings

THE first of three legal settlement payments to Catalist-listed KLW Holdings has failed to go through after the cheque received for the S$1 million payment was dishonoured upon presentation, the company said on Wednesday.

KLW is claiming a total of S$7.8 million from investor Michael Chan Ewe Teik and his company Straitsworld Advisory Limited for legal costs and the commitment fees paid under an unauthorised term sheet for a property development project in Zhangye Gansu, China.