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TT International Limited ( (SG:T09) ) has issued an update.
The High Court of Singapore has ordered TT International Limited to be wound up following a winding up application initiated by OCBC, marking a decisive escalation in the company’s long-running financial difficulties. The court appointed three professionals from Baker Tilly Advisory Pte. Ltd. as joint and several liquidators to take control of the company’s affairs, signalling the start of a formal liquidation process that will focus on realising assets and dealing with creditors’ claims. With trading in TT International’s shares already suspended since 2017, the move formalises the company’s insolvency position and places shareholders and potential investors on notice that their interests will now be determined through the liquidation rather than any ongoing business operations.
More about TT International Limited
TT International Limited is a Singapore-incorporated company whose securities have been voluntarily suspended from trading on the Singapore Exchange since August 2017, indicating prolonged financial or operational distress prior to the current court action.
Current Market Cap: S$14.68M
See more insights into T09 stock on TipRanks’ Stock Analysis page.