KLW independent director removed from CFO position at Datapulse Technology

SINGAPORE - Newly-elected KLW Holdings independent director Lim Jit Siew has been removed from his position of chief financial officer at Datapulse Technology.

Mainboard-listed Datapulse said Mr Lim had been removed from the post, with effect from Tuesday (Nov 24), for "breach of his employment contract" and "misconduct".

The company elaborated on the reasons for the dismissal in a filing with the Singapore Exchange (SGX) on Tuesday:

It said Mr Lim had assumed the position of an independent director of KLW Holdings on or about 12 October 2015 without obtaining the written consent of the company.

He had also "utilised wholly and/or a substantial portion of working hours", as well as the resources of Datapulse Technology, to "engage in matters outside of the employment with thecompany, including but not limited to, work for KLW Holdings".

Catalist-listed doormaker KLW has been in the news lately. Its former managing director Lee Boon Teck and its former group financial controller are being investigated by the the Commercial Affairs Department (CAD) for possible breaches of corporate law, according to an SGX announcement on Nov 23.

This was after a report by KLW's special auditor PricewaterhouseCoopers released earlier this month accused the firm of several financial and corporate breaches.

KLW shareholders voted in Mr Lim, along with two others, as new directors in an extraordinary general meeting held on Oct 12.

jkoh@sph.com.sg