SINGAPORE (Oct 3): The Singapore Exchange has reprimanded door manufacturer KLW Holdings over breaches of Catalist rules, as well as the company’s former managing director, Lee Boon Teck and group financial controller, Jaslin Gaw.

The regulator said KLW failed to announce a number of key developments, with Lee and Gaw facilitating the failure by not informing the board of directors of the facts.

Lee willfully made infractions against Catalist rules by failing to inform the board of significant amounts owed to KLW for development projects in Bali and Zhangye Gansu which were not recovered. He also did not announce the acquisition of shares in Key Bay Furniture immediately.

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