High Court orders winding-up of TT International
The liquidation marks the end of a long and complex chapter involving the group and Big Box mall
[SINGAPORE] The High Court has ordered consumer electronics trader TT International to wind up its operations, following an application by OCBC in November 2025.
The order was granted on Jan 22, and announced by TT International in a bourse filing on Tuesday (Jan 27). The court has appointed accounting and business advisory Baker Tilly Advisory as the liquidator.
Bourse filings in November 2025 showed that TT International owed OCBC at least S$21.7 million. Of this, around S$21.5 million was in unsecured debt and about S$294,000 was in secured debt.
The liquidation marks the end of a long and complex chapter involving TT International and Big Box mall, an eight-storey warehouse mall in Jurong East in which the firm held a majority stake.
Big Box was put up for sale in May 2018 by its receivers and managers.
The unit of TT International that owned Big Box started voluntary liquidation proceedings in September 2018.
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That same year, TT International proposed a new scheme in which it would sell in full 10 wholly owned subsidiaries involved in furniture and consumer electronics sales to Celestial Palace, a Seychelles-incorporated firm.
Instead of buying the assets, Celestial Palace invested in TT International in July 2019. It proposed to grant the group a convertible loan of S$48 million, to fund the implementation of a new restructuring scheme.
In December 2023, TT International and Celestial Palace mutually agreed to terminate the loans, citing that they were unable to reach an agreement on the revised quantum of the proceeds from the convertible loan and a separate loan. TT International later sought a US$32 million loan from a non-banking financial company registered with the Reserve Bank of India.
For the six months ended Sep 30, 2025, the group reported a loss of S$2 million, reversing from the S$1.7 million profit for the same period a year earlier.
Shares of TT International have been voluntarily suspended since Aug 4, 2017.
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