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KLW CEO Quek divest entire stake in company to Sunny Wealth

PC Lee Published on Fri, Jun 17, 2016 / 11:05 AM GMT+8

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SINGAPORE (June 17): Door manufacturer KLW Holdings says CEO and controlling shareholder Quek Chek Lan entered into an agreement on Wednesday to divest his entire holdings of 1.04 billion KLW shares, representing a 19.41% stake in the company, to Sunny Wealth.

Quek was appointed CEO last October in the wake of a boardroom tussle.

Sunny Wealth is incorporated in British Virgin Islands and Wong Ben Koon is the sole shareholder of the company.