Company briefs : AEM Holdings

AEM Holdings

AEM Holdings, which provides solutions for equipment systems, has accepted a settlement with PBT, a private company, over a claim of an alleged loss and damage to equipment.

The two parties have agreed to withdraw their claims, said the firm yesterday .

AEM had previously announced the sale of its 57.7 per cent stake in unit Interconnect Technologies (ICT) - formerly Microcircuit Technology (S) - to PBT for about US$3 million (S$4.3 million).

PBT had claimed loss and damage to three pieces of equipment that were transferred in the sale.

PBT and ICT have agreed to repay ICT's loan of US$1 million from AEM in three tranches.

KLW Holdings

Furniture-maker KLW Holdings has filed a writ of summons and statement of claim in the High Court of Singapore against investor Michael Chan Ewe Teik.

KLW is asking for a payment of $7 million under certain terms undertaken by Mr Chan in a term sheet, served on Tuesday.

The company is also seeking damages to be assessed, which includes financing costs from July 15 last year to Aug 25 this year, interests and costs, and other relief that the court deems fit.

KLW said it will make further announcements on any material developments at the appropriate time.

It advised shareholders to exercise caution when dealing in the firm's securities.

International Healthway Corp

The Singapore Exchange (SGX) is advising investors to exercise caution when trading shares of International Healthway Corp (IHC).

A review by SGX of trading in IHC shares had indicated that 60 per cent of trading in its shares since April had been conducted by a handful of individuals "who seem to be connected to each other".

Details of the SGX warning were contained in a filing by IHC at the SGX website yesterday.

In June, IHC proposed to acquire Healthway Medical Corp by issuing new IHC shares.

A version of this article appeared in the print edition of The Straits Times on September 10, 2015, with the headline 'CompanyBriefs'. Print Edition | Subscribe