Corporate digest

TT International

TT International sank deeper into the red in the third quarter ended Dec 31, 2016, with a net loss of S$9.63 million, after posting a net loss of S$6.71 million a year ago. This was due mainly to non-cash expenses such as depreciation and accretion of interests on liabilities under the scheme of arrangement.

Revenue slipped 18.3 per cent to S$88.5 million, mainly due to reduced sales to overseas customers as a result of lower customer spending due to weakened global economic conditions.