KTL Global, on Feb 9, received a query from the Singapore Exchange Regulation (SGX RegCo) after its shares spiked to 4.9 cents, 2.3 cents or 88.5% higher than the 2.6 cents at last close.

In its statement posted at 4.21pm, the market regulator asked the offshore services firm to announce any information that may have brought about the spike in share price.

SGX RegCo also asked KTL Global to confirm its compliance with the listing rules in the same statement.

KTL Global was last featured in the news when its former CEO, Wilson Tan Kheng Yeow, was charged for cheating the company’s own subsidiary of some $1.5 million in October 2020.

See: Former CEO of KTL Global charged for cheating own subsidiary and false trading

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In August 2018, the company’s executive chairman, Tan Kheng Kuan, received a letter from the Commercial Affairs Department (CAD) with regard to a possible criminal offence.

See also: KTL Global's executive chairman interviewed by CAD on possible criminal offence

Shares in KTL Global closed 2.1 cents higher or 80.8% up at 4.7 cents on Feb 9.