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Stocks to watch: KLW, Nico Steel
THE following companies saw new developments which may affect trading of their shares on Monday:
KLW Holdings: Catalist-listed KLW Holdings expects to recover an initial amount of S$1 million on Monday, in ongoing legal proceedings to recover commitment fees from unauthorised term sheets that were entered into by KLW's former managing director in 2014. It is claiming about S$7.8 million from Chan Ewe Teik Michael and his company Straitsworld Advisory Limited, for legal costs and the commitment fees paid under the term sheet for a property development project in Zhangye Gansu, China.
Nico Steel Holdings: Mainboard-listed Nico Steel Holdings announced on Monday new orders of about 22 tonnes per month of aluminium alloy materials for two customers. Of the new orders, 20 tonnes per month is from an existing customer – a major global brand of tablets. The other order of 1.8 tonnes monthly is for a new customer – a major printer solutions manufacturer.